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Giving Back to the People: King's Dream Consulting Receives Grant From Washington State Community Reinvestment Project!

On May 9, 2024, the Washington State Department of Commerce announced its plan to deliver $9.8 million in grants to 28 local organizations and institutions. These grants prioritize financial programs serving Black, Latino, and tribal communities that were disproportionately impacted by the War on Drugs. Some programs offered include homebuyer education, business coaching, construction loans, and debt remediation.


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President Richard Nixon announced the federal War on Drugs in 1971, which established harsher penalties for drug possession and increased government spending on law enforcement. Primarily considered a policy failure, the War on Drugs caused a 500% increase in drug-related convictions across the country.


The Washington State Community Reinvestment Project now aims to reverse the negative effects of extreme policies on some of the most vulnerable communities by awarding funding to respected local organizations.


"We are excited to see the results of these financial wellness programs designed by and for the communities who have been most impacted by the historical design and enforcement of criminal laws and penalties for drug possession in our state," - Mike Fong, Washington State Department of Commerce Director
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The funded programs use recommendations outlined in the Community Reinvestment Plan to maximize the impact of their services. These guidelines include ways to help community members earn higher wages, cut debt, boost credit scores, and build up to three months of living expenses.


Over 120 applicants applied for approximately $51.1 million in funds from Washington’s Community Reinvestment Account. The Community Reinvestment Project expects the final grant amounts per successful applicant to range between $200,000.00 to $375,000.00 for a 15-month award period. The final funding amount will be determined upon contract execution with the Department of Commerce.


We are truly honored to be among the apparently successful applicants and deeply appreciate the opportunity to contribute to the objectives of the Community Reinvestment Project. This acknowledgment means a lot to our team, and we are excited about the prospect of making a greater and more meaningful impact in our community” - Ela G., Donations Coordinator at the Abundance of Hope Center in King County, Washington

The Department of Commerce expects Clark, King, Pierce, Snohomish, Spokane, and Yakima Counties to receive 62% of the funds awarded, as these areas house communities most affected by the War on Drugs. The remainder of the funds will be spread across Washington’s other 33 counties.


Click here to see the complete list of grant recipients.



 

About King's Dream Business Consulting: Founded in 2019, King's Dream Business Consulting is a small business consulting and management firm established initially in response to Seattle's gentrification and displacement of its minority business communities. To Date, King's Dream has served over 200 small businesses nationwide. King's Dream Business Consulting is a leading provider of business advisory services, offering strategic planning, marketing strategies, financial management, operational efficiency, and human resources consulting. Committed to the success of small businesses, King's Dream Business Consulting provides tailored guidance and support to drive sustainable growth.



 

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Samaria Johnson writes many things, hopefully none of which you consider boring. She loves taking complex information and breaking it down into engaging, understandable content. Samaria’s goal is to only use her words in ways that help make the world a better place.

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