Today, the Minority Business Development Agency (MBDA) announced that Under Secretary Donald “Don” Cravins will be stepping down from his role as MBDA Under Secretary. Under Secretary Cravins was the first-ever Under Secretary to lead the bureau, which operates within the Department of Commerce. During his tenure, the agency helped minority business enterprises secure more than $8.2 billion in capital and private and government contracts.
“Through his historic appointment and tenure here at the Department, Under Secretary Cravins paved the way for MBDA to launch its $125 million Capital Readiness Program—the largest investment to support underserved entrepreneurs and businesses in Commerce Department history,” said Commerce Secretary Gina Raimondo. “I thank Under Secretary Cravins for his dedication to this vital program, which will continue to impact and help Americans across the country for years to come. The Department is committed to continuing the urgent work needed to empower minority and other underserved entrepreneurs to launch and scale their businesses.”
“The road to America’s economic prosperity runs through our minority businesses. I want to thank Under Secretary Cravins for the passion that he brought to MBDA and for his service to the Department and our country,” said Deputy Secretary Don Graves. “Under his leadership, MBDA expanded its voice and outreach to meet the growing needs of minority business owners and their communities. I wish him the best in his next endeavors as we continue furthering the Department of Commerce’s mission to create an economy that works for all Americans.”
“It has been a transformative two years for the Minority Business Development Agency and the honor of a lifetime to have led this great team,” said Under Secretary Cravins. “I have all the faith and confidence in Secretary Raimondo and Deputy Secretary Graves’ dedication to serving the American people as they will continue to elevate MBDA as a leader for the nation’s nearly 10 million minority business enterprises.”
To help continue the great work of MBDA, Eric Morrissette, a member of the Department’s senior leadership team and Chief of Staff to Deputy Secretary Graves, will temporarily lead the bureau.
