New Grant for MBDA Business Center

Release date: 20-Jul-2016

New Grant Delivers Support for Minority Business Growth in Chicago 

CHICAGO (July 20, 2016) —The Chicago Minority Supplier Development Council, Inc, one of 23 affiliates of the National Minority Supplier Development Council, has received a federal grant from the U.S. Department of Commerce Minority Business Development Agency (MBDA) to continue operating the MBDA Business Center in Chicago.  

The MBDA Business Center Network grant program is designed to help minority-owned firms across the nation create jobs, develop their business, and compete in the global economy. 

For nearly 50 years, ChicagoMSDC has championed minority business development using programs, initiatives, events and technical training to: • Assist with supplier contracts and financial transactions; • Create access to corporate supply chains; • Facilitate joint ventures, teaming arrangements, mergers and acquisitions; • Consult on export transactions; and • Advocate for public policy improvements along with government and private sector compliance. 

As a grant recipient the ChicagoMSDC agrees to manage the MBDA Business Center in Chicago and provide business development services that will increase public and private sector contracting opportunities, financing, and capital investments for minority-owned firms. The ChicagoMSDC and the MBDA Business Center in Chicago have reported great success collaborating to serve more than 1,200 local area minority business enterprises in past years. For fiscal years 2014-2015, business development services resulted in $687 million procurement contracts, $208 million in financing and more than 3,500 jobs created or retained. 

The MBDA federal grant funding begins the 2nd Quarter of 2016 with $312,750 per year awarded for a five-year period. 

About ChicagoMSDC
The Chicago Minority Supplier Development Council is a 501(c)3 organization, one of twenty-four affiliates of the National Minority Supplier Development Council. Our mission is to certify, develop, connect, and advocate for certified minority business enterprises while creating sustainable and profitable relationships between MBEs and major buying organizations.

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