Pilot Program to Strengthen Regional Korean-Owned Small Businesses State of Washington Technical Assistance Report
The report lays out the full breadth of the data and findings from the study, as well as the recommendations and guidance for philanthropic foundations, donors and funders, which includes:
- Support expenditures that allow for maximum one-to-one, in-person services.
- Addressing rural-urban disparities is an urgent need.
- Invest in strategies and organizations that are led by members of the specific communities being served.
- Invest in language services offered by native language speakers.
- Digital equity issues and broadband coverage gaps must be addressed immediately.
- Develop financial products specifically designed for businesses farthest from opportunity, including: character based lending; lending circle programs; Sharia-compliant financial products; loans with a zero percent interest rate; services for small business owners using Individual Taxpayer Identification Numbers, such as Tribal members or non-documented immigrants; Local Investment Networks; credit repair and credit building programs and community led investment funds.