U.S. Department of Commerce: Minority Business Development Agency Exporting Project
The Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, leads Federal Government efforts to promote the growth and global competiveness of America’s growing minority business enterprise community. The MBDA Exporting Project provides technical assistance and business development services to minority business enterprises (MBEs). The technical assistance and business development services are provided through federal financial awards to generate increased financing, contract opportunities, and greater access to new and global markets for MBEs. The project also identifies screens, promotes, and refers MBEs to exporting resources. In addition, the services provided will assist MBEs in creating and retaining jobs.
The primary drivers of this project are: (i) capacity building, and (ii) job creation/retention resulting from facilitating global contracts and trade financing for medium-sized minority owned businesses. Project services include (but are not limited to):
- The development of a pool of global contract and trade finance opportunities; direct matching of opportunities with qualified/vetted MBEs
- Relationship management and deal sourcing initiatives (such as but not limited to industry clusters)
- Facilitating MBE growth through exports (identifying global markets and financing)
- Identifying, matching and securing alternative sources of capital and trade financing
- Educating MBEs on the benefits of strategic growth alternatives (e.g., joint ventures, teaming arrangements, and others vehicles to enhance business capacity)
- Developing business to-business matching forums;
- Creating trade promotion opportunities for MBEs in the target markets
- MBE advocacy
- Providing service referrals to MBEs of all sizes
The project is required to work collaboratively with MBDA Business Centers and other MBDA sponsored projects. The Project will engage the network and offer its services to assisting MBE clients and customers through network collaboration.
Organizations that are owned or controlled by the following persons or groups of persons are eligible to receive business assistance services under the Project: African American, Hispanic American, American Asian and Pacific Islander, Native American (including Alaska Natives, Alaska Native Corporations and Tribal entities), Asian Indian American, and Hasidic Jewish Americans.
Amount: $1,000,000 is available to fund four awards of up to $250,000 each in the first year of the project. Pending appropriations, project periods may be extended for an additional four years.
Eligibility: For-profit entities (including but not limited to sole-proprietorships, partnerships, limited liability companies and corporations), non-profit organizations, state and local government entities, Native American Tribes, and educational institutions.
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