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LTSCence: Asian Pacific Islander Small Business Program is designated as a new SBA Women's Business Center (January 2005)

The Asian Pacific Islander Small Business Program (API SBP) was recently designated by the Small Business Administration as an SBA Women's Business Center. Under this 5-year $150,000/year grant, API SBP will be able to continue operating core business assistance services in 5 Asian communities.

This major grant will allow API SBP to place special attention on the needs of women entrepreneurs, in addition to continuing to serve male clients.

Little Tokyo Service Center is the lead agency for the API SBP collaboration which also includes:

• Chinatown Service Center
• Koreatown Youth and Community Center
• Search to Involve Pilipino Americans
• Thai Community Development Center

API SBP's core services are provided by a team of highly experienced bi-lingual and bi-cultural business counselors. Assistance is targeted to low and moderate income immigrant entrepreneurs. Services include:

• Individual Business Consulting
• Entrepreneur Training Program
• ETP Extension Workshops

The API SBP Women's Business Center will offer two new exciting programs:

WNET Roundtables (Women's Network for Entrepreneurial Training) bring together new entrepreneurs with successful women business owners to facilitate business mentoring. Mentors are recruited from successful API SBP clients, National Association of Women Business Owners, Asian Business Association and ethnic business associations.

On January 22nd, Little Tokyo Business Counselor Nancy Kikuchi conducted a WNET, attended by graduates of her Entrepreneur Training Program. Attendees heard from the owners of Blue Hen Vietnamese Kitchen (www.eatatbluehen.com) who shared their experiences on starting and running a restaurant. The owners of Blue Hen are API SBP clients and graduates of the January 2004 Entrepreneur Training Program. Nancy has assisted them with business planning, licenses and permits, and loan packaging. They are now using their knowledge to mentor aspiring business owners.

Microenterprise Individual Development Accounts (IDA) enable very low-income clients to enroll in a savings program, receive financial literacy and business training, and have their savings matched 2 to 1 for use as microenterprise start-up or expansion capital. Clients who save $1,000 receive an additional $2,000 in matched funds. The IDA program also receives critical funding from United Way of Greater Los Angeles. Over the next year, API SBP will work with approximately 75 clients to complete the IDA program and use matched savings to start or expand microbusinesses.

Major funding support for API SBP is provided by SBA Women's Business Center and Small Business Development Center programs, Wells Fargo, Washington Mutual, California Community Foundation, California Consumer Protection Foundation, Union Bank of California, Sempra Energy, Southern California Edison, and other generous supporters.

Click here to view more details about API SBP Women's Business Center Services