Raza Development Fund, Inc. has taken the opportunity to work collaboratively with El Centro de la Raza in Seattle including community leaders, small business owners, non-profit organizations, schools, religious groups and residents over the last few years to support not only the preservation of the community’s interests and culture but to ensure that community members thrive, and benefit from opportunities. We are proud to be a part of this initiative and believe that we are stronger because of it.
For the past few weeks, the coronavirus (COVID-19) has caused massive disruption to our communities. The pandemic has resulted in a global crisis with the United States now being the country with the most COVID-19 cases in the world. This crisis has caused millions of people to lose their jobs in the United States, and many of our small businesses are suffering loss of income and facing the risk of imminent closure. As always, and particularly at this time of crisis, RDF is committed to serving low income communities and is stepping up its assistance to those who will be disproportionately affected. We are launching the COVID-19 Hope Fund with the initial support of Wells Fargo Bank, to provide emergency grant funding to small businesses in Seattle so they can be sustained while funds from federal government and SBA arrive to the community.
The fund will be disbursed in the amounts of $2,000 for small businesses so they can continue to operate during this crisis by providing some working capital to support their current employees and operating costs.
In addition, the Hope Fund team will provide technical assistance to guide recipients through the applications for the SBA Economic Injury Loan and the SBA guaranteed loans from the paycheck protection program.
Qualifications and Priorities:
- Live in the Seattle, King County or South King County areas.
- They created their businesses through the Business Opportunity Center of El Centro de La Raza, and participated in the BOC’s 7 sessions Launch & Grow training.
- They are active or enrolled in other BOC’s programs, have participated in El Centro de La Raza’s Mercados and Plaza Roberto Maestas events,
- They have presence in the Latinx community and have their businesses established in the Seattle, King County area.
*Additional consideration and priority given to entrepreneurs that are not eligible for federal and state relief programs, specifically ITIN holders