Every year, the MBDA organizes various angel investors with the primary objective of supporting minority businesses with mezzanine and second round financing.
The Minority Business Development Agency (MBDA) was originally established as the Office of Minority Business Enterprise by President Richard M. Nixon on March 5, 1969. He recognized the impact of minority businesses on the nation's economy and on the general welfare of the country, and wanted to protect them.
Today, the agency does just that via many grant funding programs that are designed to help keep minority businesses afloat. In 2011, the agency supported the creation of 5,787 new jobs by assisting minority-owned businesses in obtaining nearly $4 billion in contracts and capital. Even more, MBDA's return on taxpayer investment (ROI) reached the highest level in the 43-year history of the Agency.
That same year, MBDA also successfully launched a newly redesigned MBDA Business Center program that combines the traditional Minority Business Enterprise Center (MBEC) and Minority Business Opportunity Center (MBOC) programs into one program. Via these center, grant funding is distributed every year with applications usually being accepted in the spring or summer.
Award Amount:
Varies
Deadline:
Varies
Website:
www.MBDA.gov/main/grantcompetitions
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