MBDA Rural Business Center Program
ID: 358220Type: Posted
Overview

Buyer

Minority Business Development Agency (DOC-MBDA)

Eligible Applicants

Others

Funding Category

Science and Technology and other Research and Development

Funding Instrument

Cooperative Agreement

Opportunity Category

Discretionary

Cost Sharing or Matching Requirement

Yes

Original Source

https://grants.gov/search-results-detail/358220
Timeline
    Description

    The Minority Business Development Agency (MBDA) is offering funding through the Rural Business Center Program to support Rural Minority Business Enterprises (RMBEs) with technical assistance and entrepreneurial development services. This initiative aims to enhance the capacity and sustainability of RMBEs at all stages of business development, from ideation to maturity, particularly in rural areas. The MBDA plans to award approximately $4 million through five-year cooperative agreements, primarily to minority-serving institutions or consortia led by such institutions, with applications due by March 17, 2025. Interested applicants can reach out to Nakita Chambers at nchambers2@mbda.gov for further information and are encouraged to submit optional Emails of Intent by February 12, 2025.

    Point(s) of Contact
    nchambers2@mbda.gov
    Files
    Title
    Posted
    MBDA.pdf
    The Minority Business Development Agency (MBDA) announces the FY 2025 Notice of Funding Opportunity (NOFO) for the Rural Business Center Program, aiming to support Rural Minority Business Enterprises (RMBEs) through technical assistance and entrepreneurial development services. This program seeks to award $4 million through five-year cooperative agreements to eligible applicants, primarily minority-serving institutions or consortia led by such institutions. Applications are encouraged to focus on enhancing businesses in rural areas and should demonstrate a 20% non-federal cost share. Key dates include optional Emails of Intent by February 12, 2025, and final applications due by March 17, 2025, via grants.gov. The program emphasizes the importance of community-based partnerships, performance measurement, and adherence to federal grant requirements. MBDA will conduct pre-application webinars and provide additional support through a FAQ document to assist applicants. Success in the program will be measured by various outcomes, including client engagement and capital infusion. The MBDA aims to foster economic growth while addressing distinct challenges faced by RMBEs in rural locales, thus contributing to sustainable business development in these communities. This funding opportunity reflects the MBDA's commitment to building a diverse and equitable economy.
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