Expanding Business Support Centers for Diverse Entrepreneurs Near Colleges.
This law expands access to federal business support centers for minority entrepreneurs. These centers will now be specifically located in or near Historically Black Colleges and Universities (HBCUs) and other minority-serving institutions. This provides more advice, training, and financial resources for individuals in these communities looking to start or grow their own businesses, while securing long-term program funding.
Key points
Federal business support centers (MBDA) must now be established in areas near minority-serving institutions, including HBCUs.
Secures $125 million in annual funding for these support centers starting in fiscal year 2025.
Increases access to business advice and resources for diverse students and graduates starting entrepreneurial ventures.
Status:
Expired
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