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MBDA Capital Readiness Program Notice of Funding Opportunity

On December 21, 2022, the Minority Business Development Agency (MBDA), under the U.S.
Department of Commerce, announced a historic $100 million funding opportunity known as the
MBDA Capital Readiness Program. The purpose and mission of this program is to empower
underserved entrepreneurs to grow and scale their businesses by becoming capital ready. MBDA’s Capital Readiness Program (CRP) is funded by the U.S. Department of Treasury’s State Small Business Credit Initiative (SSBCI), which was reauthorized under the American Rescue Plan Act of 2021.

Eligible applicants include (1) non-profit organizations, (2) private sector entities, (3) institutions of higher education, and (4) a consortium of two or more of any of the above-mentioned eligible applicants. To aid potential applicants, MBDA will conduct a series of pre-application technical assistance webinars on January 10th, 17th, and 24th . For more information on this Notice of Funding Opportunity (NOFO) and the upcoming webinars, below, please find the official press release, grant link, and press kit, among other helpful materials.