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Minority Business Development Agency Awards $10M in Federal Funding under the CARES Act

Business

Minority Businesses CARES Act
Special from U.S. Department of Commerce

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.

CARES Act minority businesses