Vice President Kamala Harris has revealed the recommended awardees for a Minority Business Development Agency-led program that seeks to help underserved entrepreneurs expand their businesses.
Funded by the State Small Business Credit Initiative, the Capital Readiness Program is a $125 million technical assistance initiative of the Department of Commerce’s MBDA that was reauthorized through the American Rescue Plan Act of 2021, MBDA said Thursday.
SSBCI is a $10 billion fund managed by the Department of the Treasury meant to drive investments in small enterprises in various states, territories and tribal governments.
“The Capital Readiness Program will provide the resources and tools to prepare businesses to access capital and funding, and ensure prosperity is within reach for all American entrepreneurs,” said Commerce Secretary Gina Raimondo.
The 43 awardees under the program will join MBDA’s National Network of 88 business centers and initiatives that offer technical and business support services to minority business enterprises.
Winning organizations include the Arizona Hispanic Chamber of Commerce Foundation, Bridgeway Capital, CIC Innovation Services, Eastern Shore Entrepreneurship Center, Impact Hub Houston and numerous others.