National institute of minority economic development (RICHMOND)

The National Institute of Minority Economic Development (NIMED) received a $150,000 Project Grant from the U.S. Small Business Administration's Office of Entrepreneurial Development under the Small Business Development Centers (SBDC) program (CFDA 59.037) with an award date of September 30, 2025, and a completion date of September 29, 2026. Through this funding, NIMED will deliver management counseling, training, and technical assistance to small businesses, with a particular focus on serving minority-owned and women-owned enterprises across North Carolina and Virginia from its Durham, North Carolina headquarters.

As an experienced SBDC service provider, NIMED will leverage this grant to provide comprehensive entrepreneurial development services, including business training, one-on-one counseling, and specialized technical assistance designed to address systemic barriers faced by socially and economically disadvantaged business owners. These services are intended to enhance client access to capital, markets, management expertise, and other critical business resources. NIMED is required to maintain detailed client activity records documenting the nature and variety of services provided and to contribute matching funds to supplement the federal investment.