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Find similar grantsMBDA Capital Readiness Program (MBDA-OBD-2023-2007775) is sponsored by U.S. Department of Commerce, Minority Business Development Agency (MBDA). This opportunity supports mission-aligned projects and measurable outcomes.
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MBDA seeks to make lasting changes for America’s entrepreneurs through this MBDA Capital Readiness Program (hereinafter referred to as this “Program”) by seeking applicants who will help close the gaps in entrepreneurial opportunities for socially and economically disadvantaged individual (SEDI) entrepreneurs and help unleash a new era of business growth, hiring, and wealth.
The spirit of entrepreneurship, where every individual with the desire and drive to build a business could have the opportunity to do so, is an important American value. Unfortunately, historic, and systemic barriers continue to make success more difficult to reach for SEDI entrepreneurs. In addition, the COVID-19 pandemic disproportionately impacted SEDI entrepreneurs and their businesses.
The American Rescue Plan Act of 2021 re-authorized the Department of Treasury’s State Small Business Credit Initiative (SSBCI) program to help revive entrepreneurship in America after the devastation of the COVID-19 pandemic. SSBCI provides a combined $10 billion to empower small businesses to access capital.
SSBCI provides jurisdictions (states, the District of Columbia, territories, and Tribal governments) funding for: (1) credit and investment programs for existing small businesses and start-ups and (2) technical assistance to small businesses applying for SSBCI funding and other government small business programs. This $93.
5 million Program funded by MBDA aims to fund applicants who provide SEDI entrepreneurs with the resources and technical assistance necessary to launch and scale investable businesses that may successfully access capital through SSBCI, other government programs, or other sources of capital.
MBDA expects participants in technical assistance funded by this Program to be SEDI-owned businesses2 that are applying, have previously applied, or plan to apply to an SSBCI capital program or other government program that supports small businesses. For this Program, “Capital” is defined as equity investments, debt, or grants.
For this Program, a SEDI-owned firm is: a) a business that is owned and controlled by individuals or whose current majority founders are individuals who have had their access to credit on reasonable terms diminished compared to others in comparable economic circumstances, due to their: (1) membership in a group that has been subjected to racial or ethnic prejudice or cultural bias within American society; (4) limited English proficiency; (6) long-term residence in an environment isolated from the mainstream of American society; (7) membership in a federally or state-recognized Indian Tribe; (8) long-term residence in a rural community; (9) residence in a U.S. territory; (10) residence in a community undergoing economic transitions (including communities impacted by the shift towards a net-zero economy or deindustrialization); or (11) membership in an underserved community.
3 b) a business enterprise that certifies that it is owned and controlled by individuals whose residences are in Community Development Financial Institution (CDFI) Investment Areas, as defined in 12 C. F. R.
§ 1805. 201(b)(3)(ii); c) a business enterprise that certifies that it will build, open, or operate a location in a CDFI Investment Area, as defined in 12 C. F.
R. § 1805. 201(b)(3)(ii); or d) a business enterprise that certifies that it is located in a CDFI Investment Area, as defined in 12 C.
F. R. § 1805.
201(b)(3)(ii). Applicants may target their proposal to the needs of one or more specific groups within the SEDI definition (hereinafter referred to as “SEDI groups”).
The Program will fund and build a geographically dispersed network of MBDA Capital Readiness technical assistance providers that help SEDI entrepreneurs launch or scale existing businesses and to access SSBCI Capital, participate in other governmental programs that support small businesses, and secure other forms of Capitital.
According to the current listing, eligibility includes: Applicants may include for-profit entities, non-profit organizations, institutions of higher education, commercial organizations, state and local government entities, Tribal governmental entities, and quasi-government e…. Confirm the full requirements in the official notice before applying.
MBDA Capital Readiness Program (MBDA-OBD-2023-2007775) is funded by U.S. Department of Commerce, Minority Business Development Agency (MBDA). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
Minority Business Development Agency (MBDA) Capital Access Grants is sponsored by U.S. Department of Commerce, Minority Business Development Agency (MBDA). The MBDA provides targeted grants to minority-owned businesses to help them access growth capital, including for technology innovation. These grants are often provided to organizations that operate MBDA Business Centers, which then offer services and resources to minority entrepreneurs.
MBDA Business Center Program is sponsored by U.S. Department of Commerce, Minority Business Development Agency (MBDA). The MBDA Business Center Program aims to foster the full participation and entrepreneurial parity of minority business enterprises (MBEs) in the U.S. economy. It offers strategic deal-making and business consulting services through a nationwide network of MBDA Business Centers. While not direct grants to individual businesses, this program funds organizations that provide crucial support to minority-owned firms, focusing on securing contracts, financing, stimulating job creation, and facilitating entry to global markets. The services provided assist MBEs in creating and retaining jobs.
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