OLYMPIA, Wash. – Through a partnership with the BECU Foundation, a state program designed to help small business owners—especially historically-underserved organizations, such as minority-owned and rural businesses and nonprofits—has grown into a statewide initiative.
As part of its effort to promote an equitable economic recovery, the Washington State Department of Commerce established the Small Business Resiliency Network in April 2020 with a goal of ensuring all business owners could be informed about local, state and federal funding, as well as other important resources and programs available to them.
Through the partnership, the BECU Foundation is reporting the Small Business Resiliency network has now grown to 31 organizations serving communities in nearly 40 languages. According to the Foundation, some organizations provide services in their area, while others serve businesses statewide.
‘Vital to Ensuring Equity’
“Growing the reach and capacity of this trusted network is vital to ensuring equity in Washington’s economic recovery. We must provide all business owners with equal opportunities to get the help they need to safely reopen and succeed,” said Commerce Director Lisa Brown. “The BECU Foundation shares our commitment and we’re delighted to have their expertise on board.”
The state contracted with BECU Foundation to act as financial agent for the additional $2 million in CARES Act funding that enabled the Small Business Resiliency Network to expand, the Foundation reported.
“Many rural organizations and small businesses owned by women and people of color have been deeply and disproportionally impacted by the pandemic,” said Solynn McCurdy, executive director of the BECU Foundation. “We recognize the important role that local organizations play in the financial health of our communities. The BECU Foundation was honored to help these businesses receive this critical funding so they can continue serving individuals and families in the Puget Sound area.”
‘Trusted Messengers’
Added former State Representative Velma Veloria, Filipino Community of Seattle, “As immigrant and refugee communities, members are challenged by many cultural barriers such as language, fear of asking for help, which prevents them from accessing information needed for their small businesses to succeed. The idea of trusted messengers really resonated with us as well as those we helped.”
The most recent organizations added to the network include:
- African Community Housing Development (ACHD)
- CAFÉ (Community for the Advancement of Family Education)
- Cambodian American Community Council
- Carl Maxey Center
- Center for Inclusive Entrepreneurship
- El Centro de la Raza
- Ethiopian Community in Seattle
- Fourth Plain Forward
- Japan-America Society of the State of Washington
- Muslin Association of Puget Sound (MAPS)
- Odyssey World International Education Services
- William Factory Small Business Incubator