The minority business development agency will use the coronavirus response and relief funding to serve and provide a more comprehensive relief to minority business enterprises to prevent, prepare for,…

The Minority Business Development Agency (MBDA) awarded $458,247 under the MBDA Business Center cooperative agreement to the City of Albuquerque, New Mexico to deliver technical assistance, training, education, and advisory services to minority business enterprises affected by COVID-19 from July 1, 2022 through June 30, 2023. The award supports the MBDA's mission to promote the growth of minority-owned firms and is funded through the Department of Commerce's MBDA Business Center Federal Financial Assistance Program (CFDA #11.805). Performance metrics include the number of minority businesses assisted, informed of COVID relief programs, and awarded funds through applications submitted with the Business Center's help. The funding will allow the City of Albuquerque to provide a comprehensive COVID-19 response for minority businesses in their local area through various outreach and support services.

The minority business development agency will use the coronavirus response and relief funding to serve and provide a more comprehensive relief to minority business enterprises to prevent, prepare for, and respond to effects of covid-19. Such assistance will include technical assistance, training, education, and advisory services to minority business enterprises. The performance goals and metrics include: number of minority business enterprises affected by covid-19 that are assisted by the business center; number of minority business enterprises informed and/or referred by the business center to covid-related local, state, and federal government assistance programs; number of MBE applications submitted to local, state, and federal government assistance programs as a result of business center assistance; number of awards issued by local, state, and federal programs to minority business enterprises assisted by the business center; and number and type (small, medium, large, ) of minority