January 18, 2023

Congressman Al Green, Congresswoman Garcia Welcome Under Secretary Donald Cravins Jr. of the Minority Business Development Agency

(Houston, TX) – On Wednesday, January 18, 2022, Congressman Al Green released the following statement:

“First and foremost, I thank my colleagues for their support of my bill, the Minority Business Resiliency Act, which permanently codified the Minority Business Development Agency (MBDA) into law within the Infrastructure Investment and Jobs Act when it became law. Ensuring that minority businesses across the Greater Houston area have access to the tools they need to succeed is of paramount importance to me. Minority and women entrepreneurs often face systemic barriers to access as well as to secure the information, networks, and capital that is essential to their growth. This is why I worked so hard to pass my Minority Business Resiliency Act which permanently established the MBDA at the U.S. Department of Commerce,” Congressman Al Green said. “I thank Under Secretary Cravins for his leadership and dedication to the economic development of minority owned businesses. His presence in Houston today to announce the MBDA’s Capital Readiness Program was invaluable. I enthusiastically supported this program as it is designed to help close the entrepreneurship gap confronting socially and economically disadvantaged individuals. Under the Capital Readiness Program, the MBDA will partner with certain organizations to aid entrepreneurs to establish and grow their enterprises. I thank Congresswoman Garcia for being a partner in the expansion of opportunities for minority entrepreneurs in Houston.”

“The Capital Readiness Program will give small businesses equal access to resources and capital to reach their full economic potential," said Congresswoman Sylvia Garcia. "This program wouldn't happen without the American Rescue Plan – which I proudly supported in Congress. Small businesses are the backbone of our country's economy. To foster innovation and create a more robust economy that represents all Americans, it is crucial to boost the next generation of entrepreneurs and increase diversity in small businesses."

“Addressing economic inequity was a key aspect of Dr. Martin Luther King, Jr.’s dream for America,” said Donald R. Cravins, Jr., Under Secretary of the Minority Business Development Agency. “It is the mission of the MBDA and the Biden-Harris Administration to make economic equity a reality for every American entrepreneur. To get that done, we must tackle the greatest obstacle facing minority and other underserved entrepreneurs, which is access to capital. Through the MBDA’s Capital Readiness Program, we are investing nearly $100 million to create a national network of business incubators and accelerators to help socially and economically disadvantaged entrepreneurs and founders launch and grow their businesses. Thanks to leaders like Congressman Al Green, this historic program, along with Houston’s MBDA Business Center and it’s MBDA Export Center, will continue to help Houstonian entrepreneurs get the assistance and access they need to succeed.”

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