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Business Grants For Minority Women

Minority Business Enterprise Centers For Minority-Owned Businesses

The Minority Business Development Agency, also referred to as MBDA, is an agency operating within the United States Department of Commerce that's primarily in charge of the promotion of growth and competitiveness of the country's minority-owned businesses.

The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to back up minority-owned businesses through providing them with electronic and one-on-one business development services for a reasonably nominal fee.

The program is likewise created to offer a vast range of services to its clients, including initial consultations, and identification and resolution of specific business concerns that could somehow lead them at the right direction, which in their case is towards the improvement and growth of their business in the marketplace.

In addition, the Minority Business Enterprise Centers must provide clients with advice and counseling in the fields of business assessment, strategic business consultancy, access to capital and markets, preparation of monetary packages, business planning, information and management, marketing, assistance, engineering, production, identification of probable career advancement and construction assistance.

The Minority Business Development Agency has designed the Minority Business Enterprise Centers to provide clients with management and technical assistance, and at the same time prohibit them from providing the clients with loans and financial assistance.

The MBDA will get into cooperative agreements with eligible applicants and will eventually provide funds ranging from $155, 000 to $400, 375.

Institutions or organizations will be considered eligible to run a Minority Business Enterprise Center if they are of the following:

a) Nonprofit organizations

b) For-profit firms

c) State and Local governments

d) Native American tribes

e) Educational institutions

The Catalog of Federal Assistance has outlined that the beneficiaries of the Minority Business Enterprise Centers include Americans, Native Americans, Aleuts, Asian Indians, Asian Pacific Americans, Eskimos, Hasidic Jews, Puerto Rican, and Spanish-Speaking Americans who owns minority businesses.

The Department of Commerce, the main agency funding the MBEC program, is the country's principal agency responsible for ensuring the expansion and advancement of the economy and technological advancements through vigilance in international and domestic trade policies.

In the fiscal years 2006 and 2007, the Minority Business Enterprise Centers was able to assist 4, 254 clients and obtained a minimum of $614, 269, 965 in combined financings and contracts.

The TopGovernmentGrants Editorial Staff maintains one the most comprehensive Websites offering information on small business grants and federal government programs. The staff also provides resources to other Websites with information on community grants and grants for youth programs.

Original article published on amazines.com

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