New BIPOC Chamber to Act as Incubator and Safety Net
KING 5 reporter Eric Wilkinson interviewed Amalia for his story on the new BIPOC Chamber of Commerce in Snohomish County, to get her thoughts on how this will benefit women and minority owned businesses. Thank you to The Economic Alliance of Snohomish County for recommending TVA for the story.
A new countywide chamber of commerce is in the works after COVID relief funds failed to reach many minority-owned businesses. A 2016 Stanford University study found that Black-owned startups were denied loans more frequently than those of whites, regardless of their credit scores. A BIPOC chamber will act as a business incubator and safety net for the community.
Amalia spoke of the challenges she faced during the pandemic, specifically navigating the process of securing COVID relief funds, and how vital it was to have strong mentors to guide her through the process. The New BIPOC Chamber, created to serve women and people of color, will be an essential, resource to help other WMBE organizations with financial guidance, trainings, and networking support.