Minority Business Loans and Grants

Minority Business Loans and Grants!

The Minority Business Development Agency is the Government Agency created specifically to foster the creation, growth and expansion of minority-owned small businesses in America.

Assistance is provided to socially or economically disadvantage individuals who own a small business or wish to start a small business.

Eligible small business minority groups include: Asian Pacific Americans, Asian Indians, Black Americans, Eskimos/Aleuts, Hasidic Jews, Native Americans, Spanish Speaking Americans, and Puerto Ricans.

Click here for information on minority business loans and grants!

How Does Minority Business Development Agency Help Minority Owned Small Businesses?

The Minority Business Development Agency (MBDA) provides funding for Minority Business Development Centers, Native American Business Development Centers, Business Resource Centers, and Minority Business Opportunity Committees located throughout the U.S.. These Centers offer a wide range of small business services to minority owned small businesses.

The Minority Business Development Agency (MBDA) was established in 1969 by Executive Order, and its role was expanded in 1971. MBDA was originally called the Office of Minority Business Enterprise (OMBE). The name was changed in 1979 to the Minority Business Development Agency (MBDA) .

What are Minority Business Development Centers, Native American Business Development Centers, Business Resource Centers, and Minority Business Opportunity Committees?

Minority Business Development Centers (MBDC), Native American Business Development Centers (NABDC), Business Resource Centers (BRC) and Minority Business Opportunity Committees (MBOC) are centers operated by private firms, state and local government agencies, Native American tribes and educational institutions.

The centers provide minority owned small businesses with one-on-one assistance in writing business plans, marketing, management & technical assistance and financial planning to assure adequate financing for small business ventures. The centers are staffed by small business specialists who have the knowledge and practical experience needed to run successful and profitable small businesses.

What About Small Business Loans and Grants?

The MBDA network offers assistance in identifying Government and private sources of small business loans and grants and in the preparation of small business loan and grant proposals. The Agency and its network, however, have no authority to make grant, loans or loan guarantees to any individual or organization wishing to purchase, start or expand a small business. For information on minority business loans and grants click here.

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