Success Stories: Minority Small Business Owners Who Received Grants
Small businesses are a cornerstone of the American economy. As per the US Small Business Administration (SBA), small businesses accounted for 44 percent of US economic activity in 2021. However, the COVID-19 pandemic impacted small businesses’ revenues and operations. Minority-owned small businesses were particularly affected, and many faced significant financial challenges during the pandemic.
To help these businesses survive, federal grants were issued to support their operations. Here are a few stories of minority small business owners who received grants and how it impacted their ventures.
1. Jessica Stribling – Owner of Spotted Cow Coffeehouse
Jessica Stribling is the owner of Spotted Cow Coffeehouse, a woman-owned coffee shop in Mill Creek, Washington. The pandemic forced her to shut down her business temporarily due to customer safety concerns. However, Jessica received a grant from the SBA’s Paycheck Protection Program, which helped her rehire her laid-off employees and pay for business expenses. As a result, she was able to reopen her coffee shop and regained customer trust.
2. Maria Rios – CEO of Nation Waste Inc.
Maria Rios is the CEO of Nation Waste Inc., a Hispanic woman-owned waste management company. Maria’s business was severely impacted by COVID-19 as many commercial clients stopped their services due to financial difficulties. Thanks to the SBA’s Economic Injury Disaster Loan program, Maria received financial support, which helped her sustain her business’s operations and retain her employees’ jobs.
3. Frank Austin – Owner of Frank’s Cajun & Soul Kitchen
Frank Austin owns Frank’s Cajun & Soul Kitchen, which serves authentic Cajun and soul food dishes in Houston, Texas. COVID-19 caused Frank’s business to lose its customers, and he was unable to pay his business expenses. Fortunately, he received a grant from Save Small Business Fund, operated by the US Chamber of Commerce Foundation, which helped him pay for his rent, staffing expenses, and utilities.
Closing Thoughts
These are just three examples of how grants have helped minority small business owners impacted by the pandemic. These grants have proved crucial in providing financial help to small businesses to sustain their operations during these challenging times.
These examples show the importance of federal grants and support programs in providing financial aid to small businesses, especially those owned by minorities and women. Grants and support programs are necessary to help these businesses recover and thrive post-pandemic. If you’re a small business owner impacted by the pandemic, we encourage you to check out these support programs and apply for a grant today.
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