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  • Submitted on 19 July 2010

    Wednesday, May 12, 2010:  MBDA and Asian Chamber of Commerce of Louisiana Host Town Hall for Minority-Owned Businesses Affected by Deep Water Horizon Incident

    WHAT:  
    The Minority Business Development Agency (MBDA) and the Asian Chamber of Commerce of Louisiana will host a town hall meeting with Vietnamese community-based organizations and local business development organizations, the Small Business Administration Disaster Relief Team, and others to share information with fishermen, shrimpers and crew members, and to discuss their rights and privileges as minority business owners in the aftermath of the DeepWater Horizon incident.                

  • Submitted on 19 July 2010

    Oakland, CA (March 1, 2010) MBDA National Director David A. Hinson will join Oakland, CA Mayor Ron Dellums, U.S. Representative Barbara Lee and officials from the White House, the U.S. Housing and Urban Development (HUD), the Department of Transportation (DOT) and the U.S. Small Business Administration to discuss the opportunities for minority-owned firms in the Bay area provided through the Recovery Act on Monday, March 1 at 9:30am. 

    “MBDA, along with our strategic partners, is committed to ensuring that minority-owned firms are able to secure contracts and grants made possible through the Recovery Act.  From modernizing inland ports to greening public housing here in Oakland, minority-owned firms are qualified and capable to work on these, and many other projects.  Minority-owned firms create jobs and build wealth in our communities.  The success of these firms directly affects the success of the U.S. economy,” said MBDA National Director David A. Hinson.

  • Submitted on 19 July 2010

    Washington (February 2, 2010) - President Barack Obama’s fiscal year (FY) 2011 budget submitted today to Congress for the U.S. Commerce Department’s Minority Business Development Agency (MBDA) includes $32.3 million for MBDA to promote the growth and global competitiveness of minority-owned businesses across the nation. President Obama’s 2011 Budget request compares to $31.5 million in MBDA’s 2010 budget.

    Having steered the economy back from the brink of a depression, the administration is committed to moving the nation from recession to recovery by sparking job creation to get millions of Americans back to work and building a new foundation for the long-term prosperity for all American families. To do this, MBDA’s 2011 budget makes critical investments in key areas that will help create jobs and strengthen the conditions for economic growth by promoting exports, clean energy and green industries. Minority-owned firms play a significant role creating job opportunities for all Americans and are twice as likely to generate sales through exports compared to non-minority firms.

  • Submitted on 15 July 2010

    Washington, D.C. (January 29, 2010) – Access to capital remains one of the most important factors limiting the success of minority-owned businesses, inhibiting their ability to grow and create new jobs, according to a new report released today by the U.S. Commerce Department’s Minority Business Development Agency (MBDA). But minority-owned businesses do continue to be the engine of employment in emerging and minority communities. “Disparities in Capital Access Between Minority and Non-Minority-Owned Businesses: The Troubling Reality of Capital Limitations Faced by MBEs” found that despite limited access to capital, total unemployment during the last recession in 2001 would have been even higher if not for the minority-business community. 

  • Submitted on 07 October 2009

    Seven Local Centers Receive Funds

    Washington, D.C. (October 6, 2009) – The U.S. Commerce Department’s Minority Business Development Agency (MBDA) today allocated a total of $900,000 to seven minority business centers across the country to increase minority business access to American Recovery and Reinvestment Act (ARRA) contracting opportunities.

    “Minority-owned firms play a significant role in the nation’s economic growth,” MBDA National Director David Hinson said. “President Obama and the entire Administration are committed to ensuring that minority businesses receive their fair share of contracts in rebuilding our economy. This effort is designed to put them into a position to do just that.”

  • Submitted on 25 August 2009

    U.S. Commerce Secretary Gary Locke, MBDA National Director David Hinson and Earvin “Magic” Johnson to discuss minority entrepreneurship and creating viable business growth

    WASHINGTON, Monday, August 24, 2009 – U.S. Commerce Secretary Gary Locke will address the 27th Annual National Minority Enterprise Development (MED) Week Conference on Thursday, August 27. The conference, hosted by the Commerce Department’s Minority Business Development Agency (MBDA), August 26-28, at the Omni Shoreham Hotel in Washington, D.C. The conference is part of the Commerce Department’s efforts to ensure minority businesses play a key role in the nation’s economic recovery. Participants will learn about strategies to foster innovation and competitiveness, and about opportunities for minority businesses to retool and rebuild America’s infrastructure.

  • Submitted on 20 August 2009

    Washington, D.C. (August 20, 2009) - The Minority Business Development Agency (MBDA), U.S. Department of Commerce, proudly announces the winner of the Ronald H. Brown Leadership Award for Minority Enterprise Development (MED) Week 2009. The recipient, Theresa Alvillar-Speake, will be honored at the Annual Awards Gala held August 28, 2009 from 7:00pm-10:00pm at the Omni Shoreham Hotel in Washington, D.C.

    The Ronald H. Brown Leadership Award recognizes individuals who are willing to take risks to achieve change and who have demonstrated exceptional leadership by significantly enhancing the development of diversity in the domestic and worldwide economies.

  • Submitted on 14 May 2009

    Washington, DC (April 30, 2009) – The Minority Business Development Agency (MBDA) is proud to announce that Heyward Davenport, its Northeast Regional Director, was inducted into the Minority Business Hall of Fame and Museum, Inc (MBHF&M).  The Minority Business Hall of Fame and Museum Inc. recognized four pioneers of minority business development on April 30th, at an awards dinner at the Frito-Lay Headquarters in Plano, Texas.

    “We are proud that Mr. Davenport has been recognized with this important honor. The award symbolizes his lifetime commitment to the growth and competitiveness of minority businesses.  MBDA congratulates him for his hard work and dedication and is proud that he represents MBDA,” said Edith McCloud, MBDA Associate Director.

  • Submitted on 29 April 2009

    WASHINGTON (April 29, 2009) -- The Minority Business Development Agency (MBDA), an agency of the U.S. Department of Commerce, will hold its 27th annual National Minority Enterprise Development (MED) Week Conference, August 26-28 at the Omni Shoreham Hotel in Washington, D.C. The Conference will focus on fostering innovation, competitiveness and opportunities for minority businesses to retool and rebuild America’s infrastructure under the the American Recovery and Reinvestment Act. 

    "In order to jumpstart our economy we need to continue to promote the growth and competitiveness of minority businesses," said MBDA’s Associate Director Edith McCloud. "Minority firms account for $661 billion in total annual receipts, employing close to 5 million in our country. The United States cannot afford to let these firms stagnate, or worse, fail. Minority entrepreneurs represent the future growth of our economy.” 

  • Submitted on 17 March 2009

    Los Angeles - The Minority Business Development Agency (MBDA), an agency of the U.S. Department of Commerce, and the U.S. Small Business Administration (SBA) have joined forces with the Asian Pacific Revolving Loan Fund of Los Angeles (APRLFLA) to sponsor the conference “Survival 101 - Accessing Stimulus Capital in Tough Times” for existing small business owners in the Los Angeles area.

    The purpose of the conference is to inform small business owners about how to secure the financing they need during a time when financial institutions are tightening their belts. Kicking off the conference will be Nancy Sidhu, Chief Economist for Los Angeles Economic Development Corporation (LAEDC) who presents observations about the state of the Southern California economy and what the near future looks like, followed by presentations from SBA, Bank of America and Wells Fargo, and Cisco Bros. about what the banks are looking for in a loan request. Finally, representatives of the Asian Pacific Revolving Loan Fund will explain how to access their organization to find the best financing available.

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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