Minority Business Enterprises Offered PPP Assistance
June 4, 2020
Collaboration between NMSDC Business Consortium Fund and Midwest BankCentre could help Minority-Owned Business Enterprises navigate the SBA funding application process.
June 4, 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.
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). 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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