Minority Business Development Agency (MBDA), under the U.S. Department of Commerce, announced a historic $100 million funding opportunity known as the MBDA Capital Readiness Program

Written By:

Exton Region Chamber of Commerce

Published On:

January 10, 2023

The purpose and mission of this program is to empower underserved entrepreneurs to grow and scale their businesses by becoming capital ready. MBDA’s Capital Readiness Program (CRP) is funded by the U.S. Department of Treasury’s State Small Business Credit Initiative (SSBCI), which was reauthorized under the American Rescue Plan Act of 2021. Eligible applicants include (1) non-profit organizations, (2) private sector entities, (3) institutions of higher education, and (4) a consortium of two or more of any of the above-mentioned eligible applicants. To aid potential applicants, MBDA will conduct a series of pre-application technical assistance webinars on January 10^th, 17^th, and 24^th. For more information on this Notice of Funding Opportunity (NOFO) and the upcoming webinars, below, please find the official press release, website link, grant link, and an attached press kit, among other helpful materials

CRP Press Release: https://www.commerce.gov/news/press-releases/2022/12/commerce-departments-minority-business-development-agency-announces
CNN Exclusive Interview w/Sec. Raimondo: https://www.cnn.com/2022/12/21/politics/commerce-department-women-minority-entrepreneurs/index.html
CRP Website Link: https://www.mbda.gov/mbda-capital-readiness-program-grant-competition

Link to Apply for Grant:https://www.grants.gov/web/grants/view-opportunity.html?oppId=345054

For the MBDA Capital Readiness Program (CRP), MBDA has planned a series of webinars on January 10th, 17th, and 24th from 2:00 – 3:00 pm EST intended to help potential applicants understand the program requirements and application processes.

To register and for more information on the MBDA CRP, please visit the MBDA webpage: https://www.mbda.gov/mbda-capital-readiness-program-grant-competition