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...

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...

Thank you, Under Secretary Cravins, for that introduction. I’m thrilled to welcome you all to the Minority Business Development Agency’s National Minority Enterprise Development Week Conference. As a descendant of one of America’s first Black patent-holders, I know firsthand how important it is to support minority entrepreneurs, innovators, and businesses. America has nearly 10 million minority...

DOT Will Host Business Forum to Improve Access to Capital and Resources in the Bipartisan Infrastructure Law Today, the USDOT Office of Small and Disadvantaged Business Utilization (OSDBU), the U.S. Small Business Administration (SBA), and the U.S. Department of Commerce Minority Business Development Agency (MBDA) announced partnerships to help small and disadvantaged businesses access the...

Cravins will lead the Minority Business Development Agency in its mission to support minority business enterprises across the country Today, U.S. Secretary of Commerce Gina Raimondo announced that Donald R. Cravins, Jr. will be the first-ever Under Secretary of Commerce for Minority Business Development for the U.S. Department of Commerce’s Minority Business Development Agency (MBDA). Under...

Good morning and thank you all for joining us today. I am so excited to be back in Detroit! Thank you, Mayor Duggan for welcoming us again to your beautiful city and thank you to Representative Lawrence and Senators Stabenow and Peters for all the work you do in Washington to deliver for the people of Michigan. I’d also like to thank Lt. Gov Gilchrist and Gov. Whitmer for working tirelessly with...

Deputy Secretary of Commerce Don Graves traveled to Detroit, Michigan, today to support swift passage of the Bipartisan Innovation Act currently under negotiation between the House and Senate, which will make transformational investments in U.S. innovation and job growth. The bill will also advance the competitiveness of the U.S. manufacturing industry, support Michigan’s workers, and help grow...

Thank you, Miguel, for that introduction and for your leadership at MBDA. And thank you to Cedric Richmond for joining us from the White House. And thanks to all our attendees for joining, and for your work to support minority business enterprises, which are crucial to our nation’s economic well-being, global competitiveness, and closing the wealth gap. At our previous MBDA stakeholder meeting, we...

The $300 million of technical assistance includes $100 million for the U.S. Department of Commerce’s Minority Business Development Agency to provide technical assistance to underserved entrepreneurs seeking greater access to capital, including venture capital financing. Today, the U.S. Department of the Treasury (Treasury) announced plans to deploy $300 million of State Small Business Credit...

Thank you, Peter, for that introduction, and thank you to Dr. Frederick and Howard University for hosting us today. And thank you, Vice President Harris and Administrator Guzman, for joining us. I’m excited to join all of you for today’s announcement. It builds on the Biden-Harris administration’s laser-focus on creating good-paying jobs for American workers. A very wise person, an inventor, once...