SBA Funding Expands Small Business Outreach Via Minority Serving Institutions

$1.5 million has been made available for 10 new grant opportunities for established Minority Serving Institutions aspiring to host a Women’s Business Center.

SBA Funding Expands Small Business Outreach

The grants were announced by Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, who works on behalf of the 32.5 million small businesses in America. The funds will provide local outcome-oriented business services for women entrepreneurs.

New Opportunities for Women Entrepreneurs

The new funds were made available as Black History Month continues, further demonstrating the intention of the Small Business Administration to make more financial resources available for historically underserved Black-owned small businesses.

Administrator Guzman has made creating funding opportunities that increase equity for small business owners a priority since her appointment to President Biden’s Cabinet. The new focus on Women’s Business Centers will help entrepreneurs ‘pivot, grow and navigate’ the new opportunities created by the Bipartisan Infrastructure Law recently introduced by the Biden-Harris Administration.

Connecting Women Entrepreneurs with Valuable Resources

Administrator Guzman said of the new funding: “Our efforts to help establish more Women’s Business Centers at Minority Serving Institutions across America will not only deliver on the Biden-Harris administration’s priority to invest in equity but also will help more women entrepreneurs – one of the most energetic, innovative and fastest-growing segments of our small business economy – drive America’s strong recovery and Build a Better America.

“Our Women’s Business Centers provide vital support, connecting women entrepreneurs with many of the SBA’s most valuable resources including access to capital, professional networks, skills training for business growth and resilience, and much more. My hope is that leaders of every qualifying institution will seize this opportunity to establish a Women’s Business Center and start building bridges to opportunity for our nation’s women business owners.”

How to Apply for SBA Funding

Eligible applicants include private or non-profit organizations with 501(c) tax-exempt status from the U.S. Treasury’s Internal Revenue Service. They must also be affiliated with a Minority Serving Institution.

All applications are required to be submitted through the Grants website, with the window for submitting an application closing at 11:59pm on February 14.

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This article, "SBA Funding Expands Small Business Outreach Via Minority Serving Institutions" was first published on Small Business Trends