Minority Business Development Agency (MBDA) -- Fiscal Year 2022 Broad Agency Announcement - Access to Capital: Innovative Finance

Funding Agency:
Department of Commerce

This notice requests applications from qualified organizations for projects addressing historical barriers to capital minority business enterprises (MBEs) face by leveraging non-traditional financial resources. The projects can utilize technical assistance models, pilot innovative solutions, leverage technology, advance research and data, or provide education to non-traditional lenders. MBDA seeks market solutions to the barriers of access to capital that acknowledge lack of traditional collateral/assets as an impediment for MBEs. The projects align with the Minority Business Development Agency (MBDA) strategic mission to support the growth and global competitiveness of minority business enterprises (MBEs) and the Administration’s strategic priority to advance racial equity and support underserved communities through the Federal government.

Deadline: June 5, 2022

Agency Website

Eligibility Requirements

Eligible applicants include for-profit entities (including but not limited to partnerships, limited liability companies, and corporations), non-profit organizations, institutions of higher education, or commercial organizations. Government or quasi-governmental organizations are not eligible. The successful applicant and program partners should have knowledge and experience working in the core areas listed under Program Objectives and should expect to work on behalf of MBEs. It is also anticipated that the mission of the successful project applicant will align with both the mission of MBDA and the BAA objectives.

Amount Description

MBDA expects to expend approximately $884,559 in fiscal year (FY) 2022 funds for one (1) financial assistance award under this BAA to cover the first budget period of the selected project. The award will be for a two-year term but funded one year at a time. MBDA anticipates that up to $884,559 will be available in FY 2023 to support continuation funding for the second year of the selected project.

Funding Type

Grant

Eligibility

Faculty

Category

Community Outreach and Engagement
Social Sciences

External Deadline

June 5, 2022