Press Releases

U.S. Commerce Secretary Gary Locke, MBDA National Director David Hinson and Earvin “Magic” Johnson to discuss minority entrepreneurship and creating viable business growth

WASHINGTON, Monday, August 24, 2009 – U.S. Commerce Secretary Gary Locke will address the 27th Annual National Minority Enterprise Development (MED) Week Conference on Thursday, August 27. The conference, hosted by the Commerce Department’s Minority Business Development Agency (MBDA), August 26-28, at the Omni Shoreham Hotel in Washington, D.C. The conference is part of the Commerce Department’s efforts to ensure minority businesses play a key role in the nation’s economic recovery. Participants will learn about strategies to foster innovation and competitiveness, and about opportunities for minority businesses to retool and rebuild America’s infrastructure.

Washington, DC (April 30, 2009) – The Minority Business Development Agency (MBDA) is proud to announce that Heyward Davenport, its Northeast Regional Director, was inducted into the Minority Business Hall of Fame and Museum, Inc (MBHF&M).  The Minority Business Hall of Fame and Museum Inc. recognized four pioneers of minority business development on April 30th, at an awards dinner at the Frito-Lay Headquarters in Plano, Texas.

“We are proud that Mr. Davenport has been recognized with this important honor. The award symbolizes his lifetime commitment to the growth and competitiveness of minority businesses.  MBDA congratulates him for his hard work and dedication and is proud that he represents MBDA,” said Edith McCloud, MBDA Associate Director.

Los Angeles - The Minority Business Development Agency (MBDA), an agency of the U.S. Department of Commerce, and the U.S. Small Business Administration (SBA) have joined forces with the Asian Pacific Revolving Loan Fund of Los Angeles (APRLFLA) to sponsor the conference “Survival 101 - Accessing Stimulus Capital in Tough Times” for existing small business owners in the Los Angeles area.

The purpose of the conference is to inform small business owners about how to secure the financing they need during a time when financial institutions are tightening their belts. Kicking off the conference will be Nancy Sidhu, Chief Economist for Los Angeles Economic Development Corporation (LAEDC) who presents observations about the state of the Southern California economy and what the near future looks like, followed by presentations from SBA, Bank of America and Wells Fargo, and Cisco Bros. about what the banks are looking for in a loan request. Finally, representatives of the Asian Pacific Revolving Loan Fund will explain how to access their organization to find the best financing available.

MBDA and BIS Team Up to Assist Minority Entrepreneurs With Export Rules of the Road

Washington, D.C. – The Minority Business Development Agency (MBDA) and the Bureau of Industry and Security (BIS), both bureaus of the U.S. Department of Commerce, have teamed up to provide information to the more than 4.1 million minority business owners in the United States. Through both MBDA’s and BIS’s network of centers and online, the agencies plan to provide information about export control policies, regulations and procedures in order to help minority businesses grow globally.

A recent MBDA report, Characteristics of Minority Businesses and Entrepreneurs: An Analysis of the 2002 Survey of Business Owners, shows America’s competitiveness and economic growth in the global market will increasingly depend on the growth and expansion of minority-owned businesses. According to the report, minority-owned firms were twice as likely to export (2.5 percent of firms) compared to non-minority owned firms (1.2 percent of firms).