Cathay Bank, along with Belin Economic Justice Project (EJP) and Ropes & Gray LLP, will be hosting a free basic legal considerations workshop for small businesses at 621 Washington Street in Boston, MA on Thursday, September 23, from 6 to 8 PM. This workshop is the beginning of what the hosting organizations believe will be a vibrant, ongoing collaboration and of immense benefit to the Asian-American business community. The workshop will provide an overview of a number of important business legal topics, the understanding of which can help entrepreneurs and small business owners improve their business performance while protecting themselves, their businesses, and their personal assets as well. Co-sponsoring the workshop are Chinatown Main Street, a Boston Main Streets Initiative, Boston Chinatown Neighborhood Center, Asian American Civic Association (AACA), and Asian Community Development Corporation (ACDC). Workshop presenters will be bilingual in English and Chinese. Following the workshop will also be a legal clinic in which attorneys offer individual legal consultation; interpreters will also be available during the clinic.
In a press conference held on August 27, event hosts gave an overview of what the workshop would entail. Jessica Sommer of the Lawyers’ Committee for Civic Rights, said the goal of this program is to familiarize aspiring or current entrepreneurs with “the ABCs” of legal issues that come with starting a small business through a series of workshops. The workshop will walk through the various ways to protect small business owners when it comes to signing leases, contracts, and determining business entity.
Johnny Ip, the Regional Senior President & General Manager of Cathay Bank’s New England Region, said if the Asian-American community responded well to the first workshop on September 23, a series of workshops may be available in the future. Cathay Bank was founded in 1962 in Los Angeles as a small business. Today, it is a publicly listed company with branches around the world. According to Ip, Cathay Bank, across all regions, has set aside $1 billion for small business loans, which come in a variety of packages to meet different business needs. Those interested in getting a loan can contact Cathy Bank for application details.
Harvey J. Wolkoff, a litigation partner of Ropes & Gray LLP, a leading law firm in New England, said its lawyers and staff devoted 90,000 hours to pro bono clients, and have helped many small business clients in the past through this particular project. Wolkoff encourages all aspiring entrepreneurs to seek legal counsel before starting a small business to avoid running into issues down the road. For instance, when a business owner seeks to rent a space, it is a good idea to let a lawyer review the lease to make sure that particular zone in fact permits businesses.
For more questions about the workshop, please contact Mary DeAngelis of Cathay Bank at 617.338.4700 x101.
