Viewpoint

From the desk of Edith McCloud, Associate Director for Management, MBDA.

In March, MBDA celebrated more than four decades promoting competitive business growth for minority entrepreneurs. While March 5, 2009 marked the 40th anniversary whereby former President Nixon signed the Executive Order, our celebration will continue throughout the year. MBDA's newsletter, 40th anniversary website and newly launched blog will highlight businesses that have benefited from MDBA programs and positive impact on their local communities. Read More

MBDA Focusing on Access to Capital During Tough Economic Times

Minority firms have been hit hard by the economic crisis. This is due to the fact that minority entrepreneurs are more likely to rely on short term debt to finance their businesses. As financial institutions pull back on the number of loans provided it becomes harder and harder for minority entrepreneurs to start and grow their firms. This leads to minority firms being disproportionately hit by the economic downturn. As a result, there is a heightened focus to find ways to finance the growth of minority firms. Read More

MBDA Grant Saves Moore Street Retail Market in Brooklyn

The Moore St. Retail Market, on the edge of the Williamsburg neighborhood in Brooklyn, NY is home to 13 minority-owned retail businesses and a focal point for the the local Hispanic community. Just one of four surviving public markets built during the depression and run by the city's Economic Development Corporation, the City of New York proposed to demolish the building and replace it with housing.

But thanks to an MBDA grant to the Project for Public Spaces (PPS), the Moore St. Retail Market will continue to operate. Read More

Government Contracts, ARRA and Minority Businesses

The ARRA makes a long-overdue and historic investment in our national infrastructure- including roads, bridges, public transit, housing and broadband - to save or create nearly 400,000 jobs for American workers today and power enhanced economic growth for decades to come.

The Act includes $150 billion in new federal infrastructure funding that reflects President Obama's belief that we can only strengthen our economy by investing in local economies. Read More

Building the Fresno Community, One House at a Time

In December, Allright Diversified's CEO, Olga Martinez was home sick with the flu and like any entrepreneur, she was in bed with her laptop "not working" when she saw on the news that ABC's Extreme Makeover: Home Edition would be coming to Fresno, CA. Since Allright is a construction company, Ms. Martinez immediately decided to become a sponsor and partner for the project. What's most unique about this project is the build must be completed in seven days and all products and services must be donated. Read More

Chicago Area Minority Businesses "Road Trip" to Federal Military Facilities

MBDA's Chicago Minority Business Opportunity Center (Chicago MBOC) recently arranged a series of "road trips" to federal military facilities in Illinois for its clients. These facilities were Scott Air Force Base (located 20 miles east of St. Louis, MO); Rock Island Arsenal (Rock Island, IL 180 miles west of Chicago); and Great Lakes Naval Station (Great Lakes, IL). Each of these facilities are host to military and civilian "commands and headquarters", responsible for purchasing billions of dollars in products and services for the US military and civilian agencies. The Rock Island Arsenal, alone, purchases more than $25 billion in goods and services, annually. Read More