View Fact Sheet WASHINGTON, D.C., – Today, Vice President Harris announced the recommended awardees for the MBDA Capital Readiness Program. The Capital Readiness Program is a $125 million technical assistance program to help underserved entrepreneurs grow and scale their businesses. Once final awards are made, the awardees will launch and operate business incubators or accelerators designed to...

WASHINGTON, D.C., May 8, 2023 — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is celebrating Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month by hosting the National AANHPI Business Summit on Wednesday, May 17, 2023, from 9:00am to 1:00pm ET in Washington D.C. During this business summit, MBDA and the National Asian/Pacific Islander...

WASHINGTON, D.C., April 24, 2023 – Today, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced the appointment of Jessica G. Cavazos as Deputy Under Secretary for Minority Business Development. Under Secretary Donald R. Cravins, Jr. released the following statement: “Ms. Cavazos’ appointment as the first-ever Deputy Under Secretary of Commerce for Minority...

WASHINGTON DC – Today, the U.S. Department of Commerce launched the Capital Readiness Program grant competition, which dedicates $93.5 million to help minority and other underserved entrepreneurs grow and scale their businesses. This program, administered by the Minority Business Development Agency, marks the largest program of its kind in the history of the Commerce Department. The Capital...

The U.S. Department of Commerce Minority Business Development Agency (MBDA) has extended awards for the Access to Capital Innovative Finance Grant to two projects that will address historical barriers faced by minority business enterprises (MBEs). Through potentially disruptive, scalable solutions, these projects will leverage non-traditional financial resources (such as non-bank lenders, minority...

Additional funding from Biden Administration brings total up to $37 million to bolster services that will help minority-owned businesses expand and prosper across 34 states Today, U.S. Secretary of Commerce Gina Raimondo announced that the U.S. Department of Commerce Minority Business Development Agency (MBDA) is extending an award for $4.72 million in federal funding to strengthen and expand its...

WASHINGTON (October 18, 2022) – The Minority Business Development Agency (MBDA) has announced $1.75 million in grants to seven minority educational institutions as part of an expanded pilot program to support entrepreneurship for undergraduate students. These grantees join a cohort of four other Minority Colleges and Universities awarded in 2021. The Minority Colleges and Universities pilot...

Bill’s passage assigns an Under Secretary to oversee the Agency, mandates services to rural areas, provides authorities for a new Minority Business Development Grant program and the creation of partnerships with HBCU’s and minority-serving institutions. [Washington, DC | November 15, 2021] - Today, U.S. Secretary of Commerce Gina M. Raimondo is pleased to announce that the U.S. Department of...

Federal funding will expand MBDA Business Centers to new locations in Alabama, Louisiana, Massachusetts, Mississippi, North Carolina, New Jersey, Ohio, Oklahoma and Virginia WASHINGTON (September 9, 2021) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is awarding $13.9 million in federal funding to 35 grant recipients as part of its MBDA Business Center Program...

Federal funding will support MBDA Specialty Centers with an emphasis on advanced manufacturing, exporting, and federal contracting. WASHINGTON (August 25, 2021) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) awarded $3.7 million in federal funding to nine (9) grant recipients to establish MBDA Advanced Manufacturing Centers, Export Centers, and a Federal...

WASHINGTON, JUNE 7, 2021 – The U.S Department of Commerce and the Minority Business Development Agency (MBDA) are pleased to announce the opening of major grant competitions in connection with its American Indian, Alaska Native, and Native Hawaiian Project. “The American Indian, Alaska Native and Native Hawaiian Tribal communities are an essential component of the American economy and pillars of...

WASHINGTON, JUNE 4, 2021 – The U.S Department of Commerce and the Minority Business Development Agency (MBDA) are pleased to announce the opening of a major grant competition in connection with its Minority Business Enterprise Equity Multiplier Project. “Systemic barriers to business capital and equity investments constitute the most significant hurdle to entrepreneurial equality,” said Edith Mc...

Minority Business Development Agency to present MED Week Honors in September. WASHINGTON, MAY 25, 2021 – The U.S. Department of Commerce, Minority Business Development Agency (MBDA) is currently accepting nominations for their 2021 National Minority Enterprise Development (MED) Week Awards. These prestigious honors are presented during MBDA’s National Minority Enterprise Development Week—September...

2020 National Minority Business Award Winners to be honored during Minority Enterprise Development (MED) Week WASHINGTON (September 13, 2020) — Today, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) proudly announced that it will host the 2020 National MED Week Conference virtually from September 14-18. Through a robust schedule of keynote remarks, plenary discussions...

WASHINGTON, D.C. -- Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed delivered prerecorded remarks today to more than 350 registrants of a webinar sponsored in partnership with the White House Initiative on Asian Americans and Pacific Islanders (link is external) (WHIAAPI), highlighting how Asian Americans and Pacific Islanders (AAPI) can utilize EXIM support...