Announcing Our 2nd Round Longevity Fund Grantees
We are thrilled to announce our second round of Longevity Fund grant recipients! Thanks to you and your donations, we are able to grant 23 Chinatown small businesses with $5,000 grants in this second of three rounds. That's $115,000 back into Chinatown this round and $165,000 in total grant distribution to date. On Giving Tuesday alone, you helped us raise $6,544. With our match partner, who agreed to match up to $5,000, this allowed us to fulfill 2 grants in this round within 24 hours, plus continued fundraising for a third. We give you our most heartfelt thanks. These grants provide at-risk businesses with an opportunity to sustain their operations into the new year, but the recovery period is still far from over.
Of the businesses who applied, 75% of applicants believe they will not be able to remain open through 2020 without additional funding. This means your support now is essential to keep Chinatown’s doors open for business. We need your continued support to raise $35,000 to help fund 7 more small business grants for distribution before the end of the year.
The Longevity Fund was established to support one of Manhattan’s last remaining working class neighborhoods. In New York City, only 3.7% of small businesses received support from the Federal Paycheck Protection Program (PPP) program, and the Center for Responsible lending estimates 75% of Asian-owned restaurants stand close to no chance of receiving a PPP loan through a mainstream bank or credit union. Furthermore, significant sociocultural norms and linguistic barriers prevent first generation or non-English speaking businesses from applying for financial support.
Chinatown is one of the most historical and socio-culturally significant enclaves in the U.S. It is an institution that represents the spirit of being Asian in America, and these businesses are the microcosm of the neighborhood, providing culturally-relevant resources and services for local residents, such as fair-priced groceries, herbal medicine for Eastern Medicine practices, cultural and ancestral goods, Asian language-native healthcare and wellness practitioners and more. They are a necessity for our working class community, where the neighborhood median household income in Chinatown is $49,810. If these businesses shutter, the damage is irreversible and will further displace our Asian population who have long resided in a neighborhood of belonging and community.
Because of the Longevity Fund, we were able to reach applicants who are often left out of receiving information on funding due to language and cultural barriers. Nearly 1/4 of our applicants applied in Chinese and 1/10 of our applicants applied because of our door to door canvassing. Grants like The Longevity Fund give opportunity to often forgotten minority and immigrant populations such as Chinatown.
Without further ado, please join us in recognizing our next round of grant recipients*:
Grocer or Goods Store:
47 Division Street Trading (Meat market)
Ben Meat Market (Meat market and bakery)
Heng Yun Groceries (Grocery Store)
HKY Ginseng (Herbal Goods)
Lay Win Herbal (Herbal Goods)
Sam Wai Liquor Store (Wine and liquor store)
Shakya Trading (TIbetian/Nepali Goods)
Sun’s Organic Garden (Tea shop)
Services:
Albert Lam Bespoke (Bespoke, tailored suits)
Alison’s Pharmacy (Pharmacy)
Lee Ren Beauty Salon (Beauty salon)
Manhattan Podiatry (Medical services)
Pharmax (Pharmacy)
Shuang Wen Academy Network (Mandarin language school)
Retail:
NY 88 Mobile (Mobile phone store)
Food & Beverage:
Dreamers Coffee House (coffee shop)
Kopitiam (Malaysian restaurant)
Happy Garden Palace (Fujianese restaurant)
Pasteur Grill & Noodles (Vietnamese restaurant)
Silk Road Cafe (Coffee shop and community space)
Soft Swerve (Asian-inspired ice cream shop)
Thailicious (Thai restaurant)
Wok Wok Southeast Asian Kitchen (Malaysian and Pan-Asian restaurant)
(*Note: awaiting agreement contract for 1 business)
In the coming weeks, we’ll be sharing stories, history and more behind the businesses. Stay tuned by subscribing to our newsletter at the bottom of this page or follow us for updates on Instagram: @welcome.to.chinatown.
