A recent executive order aimed at reducing government functions has significantly cut staffing and funding for key federal programs like the Minority Business Development Agency (MBDA) and the Community Development Financial Institutions (CDFI) Fund, despite their proven success in fostering minority-owned businesses and revitalizing underserved communities. Critics, including bipartisan senators and Rep. Maxine Waters, argue these cuts undermine economic equity and squander public-private models that yield substantial returns and job creation.
Tag: Department of Commerce
Posted inBUSINESS
Eric Morrissette speaks on what’s next for the Minority Business Development Agency
The Minority Business Development Agency has made adjustments to help all socially or economically disadvantaged businesses obtain financing and government contracts, despite a federal judge ruling that the agency must serve people regardless of race.
Posted inHBCU
Biden-Harris administration propels HBCUs with record $16B investment
The Biden-Harris administration has committed over $16 billion in federal funding and investments to historically Black colleges and universities, including $11.4 billion in grants, contracting awards, and debt relief, to support their role in advancing intergenerational economic mobility.
Posted inAfro Briefs, BUSINESS, National News, NEWS, News, Uncategorized
PRESS ROOM: The Minority Business Development Agency to announce historic collaboration with Divine Nine Sororities and national women’s leadership organizations
By Black PR Wire (Black PR Wire) WASHINGTON, D.C. – Recently, the U.S. Department of Commerce Minority Business Development Agency (MBDA) hosted the Divine Nine Sororities, The National Council of Negro Women, The Links Incorporated, The Black Women’s Agenda and The National Coalition of 100 Black Women at the White House. During this event, MBDA […]