Commerce Department Launches Capital Readiness Program

Awardees receive competitive technical assistance through support networks.

Vice President Kamala Harris recently announced the first awardees of the Capital Readiness Program under the American Rescue Plan Act of 2021. The program invests in business incubators and accelerators meant specifically for underserved communities. The recipients join a national network of “business centers and other projects that provide technical assistance and business support services to minority business enterprises.“ The Department of Commerce will manage the distribution of these awards, dispersing the program’s $125 million through the Minority Business Development Agency (MBDA).

“The purpose of the Capital Readiness Program is to provide every American entrepreneur an equitable shot at building a successful business,” said Under Secretary of Commerce for Minority Business Development Donald Cravins. “Through the Capital Readiness Program, MBDA will prepare socially and economically disadvantaged entrepreneurs to take advantage of this historic funding opportunity.”

As the Lord Leads, Pray with Us…

  • For the president and vice president as the administration promotes equity and supports minority business development.
  • For Secretary Gina Raimondo to seek God’s direction as she heads the Commerce Department.
  • For wisdom for Under Secretary Cravins as he oversees the Minority Business Development Agency.

Sources: Department of Commerce


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