As of June 22nd, 2020:
Today, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced the deployment of $10 million in CARES Act funding to the network of MBDA Business Centers and national minority chambers of commerce. The grants will be used for education, training, and advising small and minority business enterprises in their recovery from the effects of the COVID-19 crisis.
“The Trump Administration is committed to helping minority businesses access the resources they need to rebound from unexpected challenges and allow distressed communities to thrive through private investment and federal support,” said Secretary of Commerce Wilbur Ross. “These CARES Act grants, in addition to the nearly 9,000 Opportunity Zones across the country, ensure that minority-owned businesses have focused support in addressing critical funding, contracting, and operational needs in the unique circumstances resulting from COVID-19.”
“MBDA recognizes that minority communities and businesses have been particularly hurt and continue to face enormous challenges due to COVID-19,” said David J. Byrd, MBDA National Director. “Many of these small businesses now, more than ever, need access to the available resources from the federal government. Our network of MBDA Business Centers and national minority chambers of commerce have been on the front lines. The CARES Act funding will help them implement programs that will assist more minority businesses in preventing, preparing for, and responding to the COVID-19 pandemic.”
The CARES Act funding was distributed to existing MBDA Business Centers and national minority chambers of commerce who have the infrastructure to provide national coverage and the capacity to implement nationwide programs that reach large quantities of minority business enterprises.
Funding is provided for a 12-month period from June 1, 2020 through May 31, 2021. For additional information on MBDA and CARES Act funding, visit www.mbda.gov.