Minority Business Development Agency - U.S. Department of Commerce

Today in NYC: The Nasdaq Entrepreneurial Center honored #MBDA's 43 Capital Readiness Program (CRP) awardees on the Nasdaq Tower in Times Square. After a little over a year since the program's inception, our #CRP awardees have: - Served 6,326 entrepreneurs - Helped raise $263 million in capital - Helped form 2,636 new businesses - Helped develop 1,726 business pitches - Helped host 2,486 networking events Thank you for empowering America's minority entrepreneurs. Your work and contributions are seen, acknowledged … celebrated. #DiversityInBusiness #PoweredByMBDA #TeamMBDA #NasdaqCenter

A $2.5 million price tag for a building and renovations couldn’t stop the founders of OurPlace Residential Services from turning their vision into reality. Focused on providing quality, person-centered care for adults with disabilities, their mission was clear, but funding was a hurdle. After banks turned them away, the Minneapolis MBDA Business Center, operated by MEDA - Metropolitan Economic Development Association, stepped in to secure funding and locate the perfect property. Now, this team of Somali-born nurses is running a successful 24-hour home care service. “Sometimes, we look at one another and say, ‘Is this really happening?’ It’s amazing, and we couldn’t have done it without Meda.” If you’re ready to scale your business, MBDA is here to champion your success. Read more: https://lnkd.in/eeu5SKGE #WeAreMBDA #Entrepreneurship

Our agency is deeply grateful for the opportunity to support MBEs across the nation every day. We extend our warm wishes for a happy Thanksgiving -- one filled with joy and countless reasons to be thankful.

Last week, Deputy Under Secretary Eric Morrissette appeared on ABC News to discuss how bipartisan support helped pass the Minority Business Development Act of 2021, an ironclad law that permanently codified MBDA and empowers minority businesses enterprises (MBEs) by expanding opportunities, creating jobs and generating wealth for our country. Access to capital is the biggest obstacle MBEs face across America. Thanks to the Biden-Harris Administration, the Capital Readiness Program (CRP) is changing that reality by helping minority and socially and economically disadvantaged businesses do just that —- access capital, networks, and resources. #PoweredByMBDA #WeAreMBDA #CRP https://lnkd.in/eys-cfJZ

This morning, Deputy Under Secretary Eric Morrissette visited the Manhattan and Brooklyn Business Center, and CRP awardee, the Business Outreach Center (BOC) Network. Both partners help MBEs by providing them with the resources, capital, technical assistance, and networking opportunities they need. Deputy Under Secretary Morrissette participated in a roundtable discussion with the business center to address the challenges MBEs face in the New York minority business development space. He also observed the day-to-day operations of the BOC network. Together, MBDA's business centers and CRP awardees are helping MBEs compete and thrive in competitive business ecosystems. #PoweredByMBDA #TeamMBDA

$140K in contracts and counting—that’s just the beginning for Carl Williams. As the founder of Royal Men Solutions, Mr. Williams has turned his love of carpentry into a thriving business serving Chicagoland and Northwest Indiana with custom office furnishings and unmatched service. In his business’s early days, Mr. Williams connected with Defy Ventures through MBDA’s Entrepreneurship Education for Formerly Incarcerated Persons Center in Los Angeles. With guidance from the program, Mr. Williams learned to refine his pitch, outshine competitors, and build a brand that’s all his own. Now Mr. Williams is on a mission to give back. When he’s not working on his business, he’s mentoring local youth in carpentry and entrepreneurship, with plans to launch a 501(c)(3) to expand his impact. Carl’s story is proof that resilience and ambition can transform dreams into reality. Learn more about his inspiring journey here: https://lnkd.in/eh986ySc

Today, MBDA hosted its 2024 Federal Procurement Summit at the White House where federal commitments to advancing equity and supporting underserved communities were addressed with attendees. Thank you to our distinguished panel of senior federal officials and representatives from across federal agencies that attended. Together, we can advance meaningful collaboration among federal agencies, MBEs, trade associations, and advocacy organizations, working to reduce barriers and expand equitable access to federal contracting opportunities. #PoweredMBDA #WeAreMBDA

MBDA and the Department of Defense recently signed a memorandum of understating (MOU) formalizing their collaboration to enhance opportunities for minority business enterprises (MBEs). This commitment will help increase the participation of MBEs in contracts and foster diversity and new pathways for MBEs to receive technical assistance and guidance in navigating the complex defense procurement landscape. Yesterday’s ceremonial signing showcased both MBDA and DOD’s alignment on policy goals and equitable economic development. #WeAreMBDA #PoweredByMBDA

ICYMI: Deputy Secretary Eric Morrissette attended the MBDA’s Ohio Business Center's 3rd Annual Stronger Together convening that brought together minority business enterprises, stakeholders and partners to uplift the success of the Center's MAP Lab Program. The Program --- an initiative that helps MBEs scale through mergers, acquisitions, partnerships --- celebrated its one year anniversary this month. Congratulations to the Ohio Business Center for the MAP Lab program's success and for promoting equity and inclusion in Cleveland. #WeAreMBDA #TeamMBDAICYMI:

Did you know there’s a $10 billion fund dedicated to supporting small businesses and driving economic stability across the U.S.? The State Small Business Credit Initiative (SSBCI) is here to help entrepreneurs thrive—providing capital and technical assistance to promote growth and success in underserved communities. But many wonder how to access it. That’s where the Capital Readiness Program (CRP) comes in. With $125 million from the U.S. Department of Treasury, MBDA created the CRP to ensure socially and economically disadvantaged entrepreneurs, including entrepreneurs of color, can tap into SSBCI funding. The program offers technical assistance, business development resources, and access to federal and private funding opportunities, all tailored to help you secure the resources you need to grow. This partnership between The U.S. Department of the Treasury and MBDA underscores a shared commitment to advancing economic equity and opportunity. Learn how the CRP can help you scale your business: https://lnkd.in/dyik8Cw4