This is Chinatown. But Why Is It Being Left Out of Government Aid Programs?
This is the Chinatown we know and love. But some parts are not treated that way.
Good intentions (aren’t always enough)
Many government aid programs for small businesses like grants and zero interest loans require that recipients are in low/middle income ZIP codes or census tracts
It’s with good intentions: programs are meant to assist small businesses in areas that need it most, and help save the livelihoods of business owners and their employees
How does that affect Chinatown?
Chinatown’s unique geography has left it out of several government small business aid programs
Chinatown is one of the last working class neighborhood south of Central Park in Manhattan
Yet Chinatown is also right next to wealthier neighborhoods like SoHo, Tribeca, and Little Italy, with far higher median incomes
ZIP code 10013 and Manhattan Census Tract 41 lump Chinatown in with those other neighborhoods, making median income high enough to disqualify parts of Chinatown from aid
What can the government do about this?
Approaches based on geography alone aren’t cutting it for Chinatown. Here’s what we suggest in addition to current relief programs:
Empower Community Development Financial Institutions (“CDFIs”), intimately familiar with where their neighborhoods’ needs are, with additional funding to support their communities
Provide additional funding to Minority/Women-Owned Businesses (“M/WBEs”) that show need with documentation of losses in their gross receipts
What is Welcome to Chinatown doing about this?
Our organization was created because we saw that small business relief and funding programs weren’t reaching those who need it most. We:
Will continue to advocate for change with city, state, and federal officials
Are committed to $1 million in small business grants by the end of 2021
Are partnering with other organizations for relief funding, prioritizing businesses in ZIP Code 10013 and Census Tract 41 excluded from other opportunities
