MINORITY BUSINESS DEVELOPMENT AGENCY

The Minority Business Development Agency (MBDA) is the only Federal agency specifically created to encourage the growth of minority- owned businesses in the United States. MBDA increases opportunities for racial and ethnic minorities to participate in the free enterprise system through the formation and development of competitive minority-owned and managed firms. Established in 1969 by Executive Order 11458, the agency's mission is to:

• Coordinate Federal Government plans, programs, and operations which affect minority business enterprise.

• Promote and coordinate the activities of government and private organizations which help minority businesses grow.

• Collect and disseminate information that will help those interested in establishing or expanding a successful minority-owned firm.

• Fund organizations to provide management and technical assistance to minority entrepreneurs.

Activities and Services

• Eligibility for MBDA Assistance: The agency provides management and technical assistance, information and advice on starting, managing and expanding a business enterprise to socially or economically disadvantaged individuals including: Hispanic Americans, Asian and Pacific Island Americans, Alaska Natives and Native Americans, African Americans and Hasidic Jews. MBDA also assists public and private sector organizations to increase purchases from minority vendors. MBDA does not provide any grants, loans or loan guarantees to purchase, start. or run a business.

• Business Development Center Program: Minority and Indian Business Development Centers (MBDC and IBDC) increase the number of minority-owned businesses, help existing minority-owned firms to expand, and minimize minority business failures. Centers assist with business and financial planning, management and marketing, bid estimating and construction bonding, loan packaging and other business services. MBDCs and IBDCs are located throughout the country in areas with the largest concentrations of minority populations and the largest number of minority-owned businesses.

• Minority Enterprise Development Week: MED Week is an annual celebration held in the last week of September or the first week in October. MED Week recognizes and promotes the achievements of minority business enterprises and their supporters. At the national MED Week conference in Washington, D.C., more than 1,000 minority business owners, corporate officials and elected representatives convene for business seminars, award ceremonies, networking sessions, events for minority youth entrepreneurs, a Congressional reception and a minority vendor trade fair. Participants learn about new business opportunities and issues affecting commerce and industry in the United States.

Contact:

     Michael O'Hara Garcia, Chief
     Public Affairs Division, Room H6707
     Minority Business Development Agency
     U.S. Department of Commerce
     Washington, DC 20230
     PH: (202) 482-4547
     FX: (202) 501-1689
     email: MGarcia2@doc.gov