Minority Business Enterprises Offered PPP Assistance
June 8, 2020
Collaboration between NMSDC Business Consortium Fund and Midwest BankCentre could help Minority-Owned Business Enterprises navigate the SBA funding application process.
June 8, 2020—The National Minority Supplier Development Council, Inc. (NMSDC) recently announced the establishment of a new partnership between their Business Consortium Fund and Midwest BankCentre to assist certified Minority Business Enterprises (MBEs) with funding access through the Paycheck Protection Program, according to a press release.
On May 28, the U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 PPP funding to be lent exclusively by Community Development Financial Institutions (CDFIs), according to the release. CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses.
If you are a minority business still in need of PPP funding, you're encouraged to visit www.bcfcapital.com/ppp-disclosure to begin your application process. The SBA recently confirmed there is more than $90B remaining in available funding.
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