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Minority Business Support: New Programs and Grants

This act aims to strengthen minority-owned businesses, which often face greater challenges in accessing financing and growth opportunities. Through new support programs, grants, and business centers, these businesses will have a better chance to grow, create jobs, and contribute to economic growth, which can indirectly impact local communities and service availability.
Key points
Strengthening the Minority Business Development Agency (MBDA) within the Department of Commerce to better support minority-owned businesses.
Establishing new MBDA business centers nationwide, including specialized centers for rural areas, offering consulting, training, and assistance with access to capital and contracts.
Introducing new grant programs for minority businesses and non-profit organizations supporting them, aimed at their development and market sustainability.
Organizing annual business forums and studies on alternative financing solutions to help minority businesses secure capital.
Developing educational and training programs in business administration and entrepreneurship for socially and economically disadvantaged individuals.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_1255
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-04-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Minority Business Resiliency Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1255.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-20.

What are the main provisions?

Key points include:

  • Strengthening the Minority Business Development Agency (MBDA) within the Department of Commerce to better support minority-owned businesses.
  • Establishing new MBDA business centers nationwide, including specialized centers for rural areas, offering consulting, training, and assistance with access to capital and contracts.
  • Introducing new grant programs for minority businesses and non-profit organizations supporting them, aimed at their development and market sustainability.
  • Organizing annual business forums and studies on alternative financing solutions to help minority businesses secure capital.
  • Developing educational and training programs in business administration and entrepreneurship for socially and economically disadvantaged individuals.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cardin, Benjamin L. [D-MD].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy