SAN DIEGO, CA (November 19, 2019) - Asian Business Association San Diego (ABASD) and locally-based impact investment firm Mission Driven Finance launch the region’s first Asian Pacific Islander (API) Impact Fund. The “AdvanceAPI Fund” will support economic security and advancement of San Diego’s API community through access to capital and workforce development for small businesses alongside Mission Driven Finance’s existing Advance strategy. The Fund seeks to provide financing for API-owned small businesses and nonprofits, funding that may not otherwise be available through traditional means.
“Mission Driven Finance is all about investing in overlooked communities and San Diego’s API community has long been underestimated for its economic strength and vitality. Through this partnership with Asian Business Association San Diego, we can support the businesses that are the backbone of our community. Growing companies with API leadership or serving APIs get access to capital in a size that's hard to come by—$100,000 up to $700,000—as well as hands-on support and increased local and national exposure,” noted Lauren Grattan, Co-Founder and Director of Community Engagement for Mission Driven Finance.
“As a small business owner in the San Diego region, I understand what a significant positive impact this brings to our community,” said Robert Ito, a local infill affordable and market-rate housing developer and a founder of ABASD, “I've seen how critical access to capital is for our community. I’m very excited for this opportunity to invest in my fellow API leaders.”
“For nearly 30 years, ABASD has helped local businesses grow and succeed through technical assistance, mentorship, advocacy and access to capital. The AdvanceAPI Fund furthers our mission of ensuring we’re supporting everyone in our community, especially those most in need and some traditionally seen as unbankable. We’re looking forward to helping grow our region’s small businesses with Mission Driven Finance,” Jason Paguio, President and CEO, Asian Business Association San Diego.
For more information about the AdvanceAPI Fund, contact Louie Nguyen, Chief Investment Officer, Mission Driven Finance: firstname.lastname@example.org
Mission Driven Finance is an impact investment firm and Certified B Corporation dedicated to building a financial system that ensures good businesses have access to sufficient, affordable capital. Built from the ground up with a single purpose—to make it easy to invest in your community—all its funds and structured products are designed to close financial gaps that will close opportunity gaps. The Advance family of funds at Mission Driven Finance invests in enterprises that prepare people for success, provide paths to quality jobs, and allow more people to participate in a growing economy. Learn more: www.missiondrivenfinance.com
Asian Business Association San Diego (ABASD) represents the interests of more than 30,000 Asian Pacific Islander owned businesses. ABASD believes in building sustainable communities through inclusive economic development and a qualified diverse workforce. As part of the Small Business Development Center (SBDC) Network, ABASD provides educational workshops, technical assistance, business mentorship, advocacy and access to capital. Learn more: www.abasd.org