AAPI grants and resources: Opportunities for your business

May is Asian American Pacific Islander (AAPI) Heritage Month, and there’s no better way to celebrate than shining a spotlight on some organizations that provide grants, funding, and resources for AAPI business owners. 

MBDA

The Minority Business Development Agency, part of the US Department of Commerce, provides programs, services, and initiatives to minority business enterprises (MBEs) to help them grow today and meet industry needs tomorrow. A national network of business centers and specialty centers provides general business assistance, as well as specialized assistance on exporting, advanced manufacturing, and federal procurement. 

MBDA provided MBEs with access to over $1.6 billion in capital during the Biden-Harris administration. In addition, the agency helped minority businesses secure over $3.2 billion in contracts and helped create and retain over 23,000 jobs. In its first year, the agency reported its Capital Readiness Program served over 6,300 entrepreneurs, helping raise $263 million in capital, according to their 2024 year in review. 

National ACE

AAPISTRONG, powered by the National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), empowers AAPI and all small businesses and entrepreneurs by providing access to resources and opportunities for growth. 

The AAPISTRONG website lists funding opportunities for AAPI businesses, as well as other resources for AAPI businesses.

SBA

The US Small Business Administration guarantees loans, matches investors with businesses that need them, provides disaster assistance, guarantees surety bonds, and more. The SBA has several programs that focus on assisting businesses located in underrepresented communities and/or owned by minority owners, including Asian American Pacific Islander entrepreneurs. The SBA can also assist businesses with finding and winning contracts for government work, complementing opportunities created by AAPI grants and other funding. 

Asian Pacific Islander Small Business Program

The Asian Pacific Islander Small Business Program offers individual business counseling, an entrepreneur training program, workshops, and business resources to small and micro businesses in Los Angeles. They focus on the Chinese, Korean, Japanese, Cambodian, Thai, and Filipino business communities. API SBC is an SBA Women’s Business Center. 

Pacific Asian Consortium in Employment

The Pacific Asian Consortium in Employment (PACE) provides technical assistance, training, and access to capital for small business owners and entrepreneurs. PACE is a Minority Business Development Agency Business Center and recently received a $2.5 million, five-year grant to support minority small businesses in Southern California. PACE is currently accepting grant applications for small businesses in Los Angeles’ Council District 1. 

Verizon Small Business Digital Ready Grant

While not specific to AAPI Businesses, the Verizon Small Business Digital Ready Grant Program offers $10,000 grants throughout the year. This program is designed to help small businesses succeed in today’s digital world with expert coaching, peer networking, learning modules, and more. The online curriculum is free and open to any small business.

Like all businesses, AAPI-owned businesses should be sure to safeguard themselves against the risks they can’t see coming. Hiscox offers liability insurance to protect the dream you’ve worked so hard to build. Learn more about business insurance and get a free quote today. 

Frequently asked questions

Which national programs in this guide offer support for AAPI entrepreneurs?

Three pillars stand out: MBDA (a U.S. Department of Commerce agency) with a nationwide network of business and specialty centers for capital access, exporting, advanced manufacturing, and federal procurement; National ACE’s AAPISTRONG initiative; and the SBA, which provides loan guarantees, investor matching, disaster assistance, surety bonds, and help finding and winning government contracts.

Who can apply for the AAPISTRONG Proudly Unstoppable Fund, and how much is the grant?

U.S. businesses that are at least 51% AAPI-owned can apply for one of 27 grants of $5,000 each. The fund is offered by National ACE in partnership with UPS. Details and application information are available via the AAPISTRONG website.

How can the MBDA help my business, and what recent results has it achieved?

MBDA connects minority business enterprises to capital, contracts, and specialized assistance in areas like exporting, advanced manufacturing, and federal procurement through its national center network. During the Biden-Harris administration, MBDA facilitated over $1.6 billion in capital access, helped secure over $3.2 billion in contracts, and supported the creation and retention of over 23,000 jobs. Its Capital Readiness Program served 6,300+ entrepreneurs in its first year, helping raise $263 million in capital (per MBDA’s 2024 year in review).

Is Verizon’s Small Business Digital Ready program only for AAPI-owned companies?

No. While highlighted here as a resource for AAPI entrepreneurs through National ACE, the online curriculum is free and open to any small business. It provides expert coaching, peer networking, and learning modules to build digital capabilities.

I’m in Southern California—what local AAPI-focused resources should I contact?

Two standouts are the Asian Pacific Islander Small Business Program (an SBA Women’s Business Center in Los Angeles offering one-on-one counseling, entrepreneur training, workshops, and resources focused on Chinese, Korean, Japanese, Cambodian, Thai, and Filipino communities) and PACE (the Pacific Asian Consortium in Employment), an MBDA Business Center providing technical assistance, training, and access to capital. PACE recently received a $2.5 million, five-year grant to support minority small businesses in Southern California.