(Businessweek) — The Small Business Administration recently announced two new programs that will increase lending to businesses in disadvantaged areas and to those headed by minorities and women. Beginning in mid-March, Small Business Advantage and Community Advantage will allow mission-based financial institutions to issue SBA-guaranteed loans of up to $250,000. “These new ‘Advantage’ initiatives are aimed […]
(Chicago Sun Times) — Mayoral candidate Carol Moseley Braun has unveiled her plans to improve the process of allocating contracts to minority- and women-owned businesses. Calling the issue one of “grave importance,” Braun said: “It goes to the heart of defining our community as one of inclusion and diversity or exclusion and cabals.” If elected, […]
(Chicago Sun Times) — Mayoral challenger James Meeks scrambled Thursday to put out a political fire touched off by his suggestion that only African Americans should be eligible for city contracts set aside for minorities and women. Meeks made the statement on Wednesday during an interview on WVON-AM (1690). It happened during a discussion of […]
(Bizjournals.com) — The Small Business Administration rolled out two new programs aimed at increasing the flow of credit to businesses in low-income areas, as well as minorities and women. The SBA also announced that Radio One founder and chairperson Catherine Hughes will chair the agency’s new Advisory Council on Underserved Communities. The agency’s two new loan […]
(Philly.com) — Supporters of Superintendent Arlene Ackerman crowded inside the school district’s auditorium yesterday to commend her efforts to increase minority business in the district and condemn the Inquirer‘s coverage of her decision to switch contractors for security-related work at dangerous city schools. Dozens of elected officials, community activists, retired school personnel and others praised her […]
(Gazette) — The Prince George’s County Council is expected to vote Tuesday on whether to request specific goals for minority-based participation in developments that receive special tax incentives. Under County Resolution 98, any company that applies for Tax Increment Financing — a special arrangement where the county helps finance a development project and defers some […]
Faith and tenacity were key to her success, says Drake by Tarice L.S. Gray In March of 2002, Stephanie Drake had an epiphany. The long time commercial real estate finance professional would take the leap of faith into construction. She launched Drake Inc., headquartered in Washington D.C. and hasn’t regretted it since. The company has […]
Southeast Michigan’s minority- and women-owned auto suppliers are benefiting from Ford Motor Co.’s increased spending goals. The Dearborn-based automaker purchased $2.7 billion in goods and services from tier-one minority- or women-owned suppliers last year, including $150 million in new business. Minority-owned suppliers that secured contracts with Ford last year includes African-American-owned and Canton-based Grupo Antolin-Wayne […]
(allgov.com) — David A. Hinson was appointed National Director of the Minority Business Development Agency on July 15, 2009. He oversees the agency’s five regional branches and 48 business bureaus, which offer support services to minority businesses. In 2009, the agency executed almost $3 billion in contracts and financing.Born and raised in St. Louis, Missouri, […]
(NYT) — Businesses owned by women and members of minorities still struggle to secure city contracts, despite nearly five years of legal mandates and targeted goals set by the city, says a new City Council report [pdf – see also below]. City agencies handed out more than $5.3 billion in contracts between July and December 2009, […]
(Read Media) — Governor David A. Paterson today signed four ground-breaking bills into law, including legislation that will establish a level playing field for Minority and Women-Owned Business Enterprises (MWBEs) in New York State. Three of bills were Governor’s Program Bills. “With these pieces of legislation, our State is building on its proud history of […]
(Washington Post) — Emogene Mitchell spent two decades in the cocoon of a multinational research institute, rising to vice president in charge of events planning. Then the economy tanked, and the workload shriveled. In the heart of the Great Recession, Mitchell was ready to join the soaring number of minorities and women who are starting their […]