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News and Announcements

  • Submitted on 29 December 2015

    To help minority-owned small businesses navigate the evolving lending landscape and secure the right financing they need to grow, Funding Circle, the world's leading marketplace for business financing, has partnered with the Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce.

    Through the partnership, Funding Circle's small business experts will deliver a range of original financial education programs to minority business owners through MBDA's national business center network. The materials will focus on access to alternative capital, business strategy and every business owner's right to fair and transparent financing, as outlined in the Small Business Borrowers' Bill of Rights.

  • Submitted on 10 December 2015

    U.S. Secretary of Commerce Penny Pritzker today delivered remarks and chaired a meeting of the Gulf Coast Ecosystem Restoration Council in Biloxi, Mississippi. During the meeting, the Council approved the Initial Funded Priorities List (FPL) totaling approximately $183 million of ecosystem restoration projects. Using funds from the settlement with Transocean Deepwater Inc., the Council is providing initial investments to address critical needs of 10 watersheds across the Gulf to help restore the region’s ecosystem and strengthen economic resilience. 

  • Submitted on 04 December 2015

    MBDA increasing push on policy development

    Agency welcomes new talent to senior leadership team

    The Department of Commerce, Minority Business Development Agency’s mission is to promote the growth of minority owned businesses through the advancement of public and private sector programs, policy, and research. In the upcoming year, the Agency will continue to build on its programs and services with an expanded focus on policy.

  • Submitted on 02 December 2015

    On Wednesday, December 9 at 10:00 a.m. CT, the Gulf Coast Ecosystem Restoration Council (Council) will meet to vote on the Initial Funded Priorities List (FPL) and the Spill Impact Component Rule pursuant to the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (RESTORE Act).

    An open house will begin at 9:00 a.m. CT. The public is invited to attend the open house and meeting. Today, the Council posted meeting materials on its website:

    December 9 Meeting Agenda

  • Submitted on 01 December 2015

    The U.S. is home to the world’s most innovated and forward thinking companies in the world, but in today’s global economy it is not enough to simply be the best—we must also let the world know that America is open for business.

    Commerce Secretary Penny Pritzker invites your business to attend Hannover Messe, the world’s largest trade show for industrial technology. Our team of commercial experts will provide insights into global industry trends, help you identify the best market opportunities for your products, and facilitate introductions to international buyers, distributers, and investors.

  • Submitted on 27 November 2015

    U.S. Commerce Deputy Secretary Bruce Andrews today announced the Department is seeking candidates to serve on a new Digital Economy Board of Advisors, which Commerce is establishing to give government a mechanism to obtain advice from leaders in industry and civil society. The board will provide recommendations on ways to ensure that the Internet continues to thrive as an engine of growth, innovation, and free expression.

  • Submitted on 25 November 2015

    Small Business SaturdaySaturday, November 28, 2015 is the sixth annual Small Business Saturday – a day to celebrate and support small businesses and all they do for our communities. Please join the Small Business Administration and organizations across the country in supporting your local small business by shopping and dining at small businesses.

    Learn more about Small Business Saturday.

  • Submitted on 19 November 2015

    BP, the United States, and the five Gulf states have agreed to a settlement resolving claims for federal civil penalties and natural resource damages related to the Deepwater Horizon BP Spill. This settlement is set forth in the proposed Consent Decree. The Department of Justice is seeking public comment on the proposed settlement until December 4, 2015.

    Minority business enterprises (MBEs) and organizations that serve the minority business community have an opportunity to submit comments on the proposed settlement.  MBEs can participate inthe economic and business opportunities associated with the distribution of funds under the Consent Decree.Under the proposed Decree, BP, among other things, will pay

  • Submitted on 19 November 2015

    The Minority Business Development Agency (MBDA) understands that minority businesses are an essential element in the economic engine of local communities.  MBDA remains the only federal agency solely dedicated to the growth and global competitiveness of our nation’s eight million minority business enterprises (MBEs).

    In response to the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act (RESTORE Act), MBDA has promoted inter-agency collaboration with other Department of Commerce bureaus to ensure that the federal response prioritizes long-term recovery efforts to help revitalize the minority business community in the region.  In partnership with National Oceanic and Atmospheric Administration (NOAA), this engagement will expand MBDA services and programs to the business communities that were most impacted by the BP Oil Spill.

  • Submitted on 13 November 2015

    Assistant Secretary Jay Williams Joins National Urban League (NUL) President & CEO Marc Morial and Mayor Stephanie Rawlings-Blake to announce an EDA investment will help to establish a new Entrepreneurship Center ProgramProblem solvers, game changers, dreamers, and doers – these are just a few descriptors commonly associated with entrepreneurs all across the U.S.  Today, more than ever, we see the power and impact new businesses have throughout developing communities as these startups create jobs, improve quality of life, and help define the characteristics that make communities alive and unique. 

    Last April, in the midst of the unrest taking place in the city of Baltimore, Maryland, we saw first-hand how important micro-business owners and entrepreneurs are to supporting economic opportunity and jobs locally.  However, too often people in underserved communities lack the opportunities and resources to put their dreams into action, and as a basic component of economic self-sufficiency, it is ever more important we strive to support entrepreneurship across every community in America.

    Last week, I was pleased to travel to Baltimore where I was joined by National Urban League (NUL) President & CEO Marc Morial and Mayor Stephanie Rawlings-Blake to announce a $300,000 U.S. Economic Development Administration (EDA) investment in the NUL that will help to establish a new Entrepreneurship Center Program. The program will provide critical training and technical assistance to those negatively impacted financially by the unrest.

    The NUL is uniquely positioned to help strengthen and grow the city’s small business and entrepreneur community. Baltimore will be the 13th city to host a NUL Entrepreneurship Center Program, which have helped 11,000 business owners across the nation to date.


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