New Government Programs = Big Opportunities for Minority Businesses

Louisiana Economic Development highlights big opportunities for Minority Businesses on GBEF HQ Stage

Recently, Vice President Harris and the Minority Business Development Agency announced a $125 million technical assistance program to help underserved entrepreneurs grow and scale their businesses. The Capital Readiness Program represents the largest investment from the U.S. Department of Commerce in support of underserved entrepreneurs. The Capital Readiness Program is a companion technical assistance program designed to help prepare underserved entrepreneurs to secure capital from the historic $10 billion State Small Business Credit Initiative (SSBCI) and other sources of capital. This marks two historic programs and investments from the Biden-Harris Administration that are strategically geared towards supporting small businesses and underserved entrepreneurs. During Essence Festival of Culture™ 2023, on the Global Black Economic Forum HQ stage, Assistant Secretary Brenda Guess and Government Affairs Director Makesha Judson from Louisiana Economic Development, a state recipient of the SSBCI Program, highlighted its efforts to support small businesses and empower them to gain access to the capital needed to invest in job-creating opportunities to grow their business. The SSBCI program provided funds to states, the District of Columbia, territories, and Tribal governments to promote American entrepreneurship, support small business ownership, and provide equitable access to capital across the country.

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