In the heart of Tigard, OR, a fusion of flavors and community spirit thrives at Honey Spicy. This local restaurant is known for its tasty Korean fusion dishes, purple rice, and warm customer service. Honey Spicy is a beloved fixture in the Tigard community. They are proud to be the inaugural recipient of the Tigard Impact Fund. Thanks the recent support from the Tigard Impact Fund, in collaboration with the City of Tigard and Business Impact NW, Honey Spicy, is on the verge of experiencing even greater success.
Honey Spicy: The Taste of Resilience
Since opening in 2018, Honey Spicy has dealt with its fair share of challenges. From navigating the uncertainties of the Covid-19 pandemic, to dealing with construction challenges that proved detrimental, owner Timothy Cho looked toward the future. By pivoting to a take-out only model, and embracing change, Honey Spicy not only survived the Pandemic, but continued to thrive, proving itself as an adaptive and long-term staple in the city of Tigard. Through it all, Timothy and his team have shown resilience and dedication, continuing their commitment to providing great food and excellent customer service. Timothy states, “I really enjoy talking with my customers. They’ve become friends, and I enjoy all the conversations. “
Seeking to further expand his thriving small business, additional capital was necessary. Through a collaborative relationship, Timothy was encouraged to reach out about for additional funding options through the City of Tigard. The Tigard Impact Fund offers enhanced access to additional financial options, in turn, driving growth and innovation, without being held back by limitations of traditional funding methods. Beyond just providing financial assistance, the partnership with the City of Tigard and Business Impact NW, for this funding, offers additional comprehensive resources and support services tailored to the unique needs of businesses, like Honey Spicy. Timothy was able to utilize this support and his background of maneuvering through obstacles, to develop a successful and streamlined plan for the future of Honey Spicy, including updating equipment, marketing, and hiring new employees.
Empowering Small Businesses: The Tigard Impact Fund
The Tigard Impact Fund stands is a testament to support, community collaboration, and empowerment for the city of Tigard, Oregon. With the initial commitment of $400,000 from the City of Tigard, and lending facilitated by Business Impact NW, this fund was established to provide loans exclusively for existing Tigard, OR businesses, to help them grow. The loans borrowed from the Tigard Impact Fund are reinvested directly back into the fund via borrower’s payments, supporting and creating more opportunity for the Tigard area.
This innovative, revolving loan fund provides support for local small businesses. This aims to alleviate challenges that entrepreneurs often face in securing loans from traditional financial institutions. “The Tigard Impact Fund will improve access to lending capital for Tigard firms at a very opportune time, says Lloyd Purdy, Economic Development Manager, City of Tigard.
“Providing alternative lending options to entrepreneurs is one way we can help grow an entrepreneurial ecosystem in Tigard.”
Community Collaboration
With the support of the Tigard Impact Fund, facilitated by City of Tigard and Business Impact NW, Honey Spicy is ready to embark on its next chapter, enriching its own operations and contributing to the economic success and development of Tigard. “We are excited to see the positive impact this collaboration will have on Tigard’s business landscape”, says Lloyd Purdy, Economic Development Manager, City of Tigard. This investment highlights the collaborative efforts to stand behind local businesses and boost growth within the community, ensuring a brighter future for all.
The partnership of Business Impact NW, the City of Tigard, and Honey Spicy exemplifies the power of community through positive change. Along with financial assistance, it offers a range of resources and support services tailored to the unique needs of local businesses. By supporting entrepreneurship and small businesses, this partnership focuses on building a stronger, more vibrant business community in Tigard.
“This loan fund is inclusive. Any business can apply.”
A Vision For The Future
As Honey Spicy embarks on this new journey, the impact of the Tigard Impact Fund resonates throughout the community. Through partnerships and initiatives like this, Tigard is supporting businesses, nurturing dreams, driving development, and cultivating community. With the City of Tigard’s commitment to equity and advancing growth, and Business Impact NW’s dedication to empowering business owners, the future looks very bright.
In Tigard, OR, the spirit of collaboration, resilience, and entrepreneurship is embodied by Honey Spicy and initiatives like the Tigard Impact Fund. This collaboration is a testament to remember to support and uplift one another, ensuring that Tigard remains a place where dreams become reality and community thrives.
To learn more about the Tigard Impact Fund, click here.
To learn more about funding assistance, click here.
About the author
Emma Seymour is a Communications and Public Relations professional specializing in storytelling, relationship building, and content development. A military spouse and former small business owner, she advocates for veterans, transitioning service members, and their spouses, and has delivered keynote speeches on workforce development, military programs, and childhood trauma.