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Minority Business Enterprise (MBE) Equity Multiplier Project

Cooperative Agreement to a USA Nonprofit, For-Profit,
IHE, or Agency to Promote MBE Business Growth

Agency Type:

Federal

Funding Source:

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U.S. Department of Commerce - Minority Business Development Agency (MBDA)

Conf. Date:

06/04/21

Deadline Date:

06/30/21 11:59 PM EST Receipt

Description:

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Cooperative agreement to a USA and territories nonprofit organization, for-profit, IHE, or state, local, or tribal government entity for innovative projects that promote business growth for Minority Business Enterprises (MBEs). Applicants are advised that required registrations must be completed prior to applying. The project aims to create a more diverse economy and drive economic prosperity for minority business leaders through capacity building, venture capital readiness, access to equity and venture investment and investors, and job creation.

The Minority Business Development Agency (MBDA) Minority Business Enterprise (MBE) Equity Multiplier Project will facilitate technical assistance to MBEs related to accessing capital. MBDA is authorized pursuant to Executive Order 11625 to provide financial assistance to public and private organizations so that they may render technical and management assistance to minority business enterprises and defray all or part of the costs of pilot or demonstration projects conducted by public or private agencies or organizations that are designed to overcome the special challenges of minority business enterprises.

Program Priorities

MBDA leads Federal Government efforts to promote the growth and global competitiveness of MBEs. MBDA has established key priorities designed to overcome the unique challenges faced by MBEs. The primary drivers of this project are (i) capacity building and venture capital readiness, (ii) increasing access to equity and venture investment and investors, (iii) technical business services; and (iv) job creation. This program supports competitive proposals that seek to support entrepreneurship and accelerate MBE growth nationally via technical assistance for equity investment. Competitive proposals will outline how the project will strengthen economic competitiveness through increasing the flow of equity capital to minority communities and leverage the strengths of partnerships to help create new enterprises, commercialize technology, and create jobs. 

This program is intended to provide direct technical assistance to MBEs that receive or are seeking equity investment or a hybrid model of investment; applicants to this BAA will provide technical assistance to MBEs, including, for example: evaluation of companies with high growth as a central factor of their investment strategy; technical business services and investor engagement activities; Form D filings; investment materials, such as CIM (Confidential Information Memorandums), pitch decks, financial models, company profiles, financial related legal support, financial/equity agreements, term sheets and closing documents, due diligence, market analyses, valuations; customer acquisitions; business acquisitions; merger assistance; technology and location identification; e-commerce; and other investor readiness tools. This program leverages community resources and investment and maximizes opportunities for the development of emerging, high growth minority entrepreneurs in a myriad of industries.

GrantWatch ID#:

GrantWatch ID#: 196670

Estimated Total Program Funding:

$300,000

Number of Grants:

MBDA anticipates awarding approximately one (1) individual cooperative agreement.

Estimated Size of Grant:

$300,000

Term of Contract:

MBDA will issue an award for a two-year term, to be funded one year at a time, from September 1, 2021 through August 31, 2023. Funding for the second year is contingent upon satisfactory performance in the prior year (Year 1) based on proposed goals and maintenance of program priorities.

Additional Eligibility Criteria:

Eligible applicants include: For-profit entities (including but not limited to sole-proprietorships, partnerships, limited liability companies, and corporations), non-profit organizations, institutions of higher education, commercial organizations, state and local government entities, Tribal governmental entities, and quasi-government entities.

MBE Service Recipients - Organizations that are owned or controlled by the following persons or groups of persons are considered MBEs for the purpose of this BAA: African-American, Hispanic-American, Asian American and Pacific Islander, Native American (including Alaska Natives, Alaska Native Corporations and Tribal entities), Asian Indian American, and Hasidic Jewish American.

Note: Project must be located in the U.S. or any U.S. territory, including Guam, Puerto Rico, and the Virgin Islands. MBDA is not authorized to provide awards to individuals under this BAA, and applications from individuals will not be considered under this request. Award funds cannot be used to make investments in individual businesses.

Pre-proposal Conference:

The MBDA Business Center Program pre-application conference will be held on June 4th, 2021 at 2:00 – 3:00 p.m. E.D.T. Participants must register at least 24 hours in advance of the teleconference.

Register here: https://www.mbda.gov/mbe-equity-multiplier-project-registration

Pre-Application Information:

Applications must be submitted to Grants.gov no later than June 30th, 2021 at 11:59 PM EST.

Anticipated time for processing awards is approximately ninety (90) days from the receipt of applications. MBDA anticipates that the awards under this NOFO will be made with start dates of September 1, 2021. Successful applicants may be eligible for pre-award costs.

Applicants have a 33% cost share requirement. Applicants must demonstrate at the time of application, a matching share of 33% of the total project.

View the webinar recording: https://youtu.be/uqq7vjEuup8

Each applicant (unless the applicant is eligible for an exemption under 2 CFR § 25.110(b) or (c), or an exception approved under 2 CFR § 25.110(d)) is required to register in SAM before submitting an application. Applicants must create a new SAM user account to renew or update registration. To obtain additional information and to verify that all required registrations are current, please visit
www.sam.gov/portal/public/SAM.

Obtain a DUNS Number. Access the Dun & Bradstreet website: http://fedgov.dnb.com/webform (1-2 business days).

Grants.gov Registration - To submit an application through www.grants.gov, you must register for a user ID and password. This process can take between three to five business days and up to four weeks if all steps are not completed correctly. Information about the registration process can be found at http://www.grants.gov/applicants/get_registered.jsp.

Confirmation of successful submission requires 48 hours. Applicants are advised to review the Grants.gov tutorial to minimize risk of an unsuccessful submission. Please visit http://www.grants.gov/web/grants/applicants/applicant-tools-and-tips.html.

For information about mandatory post-award conferences and workshops, see pages 25-26 of the NOFO (see Attached Files).

View this opportunity on Grants.gov: https://www.grants.gov/web/grants/view-opportunity.html?oppId=333856

For a list of application documents, see the Package tab (press Preview) on the Grants.gov page above.

View Pre-Application Conference Recording: https://www.youtube.com/watch?v=WY0MSdk3ORA

Videos and Resources: https://www.mbda.gov/grants

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Prospective applicants may contact:
Ms. Nakita Chambers
MBDA Program Manager
U.S. Department of Commerce
Email: nchambers@mbda.gov
Tel: 202-482-0065
**Due to the Agency’s maximum telework posture, applicants should notify the Agency Contact via telephone or email (not mail).

CFDA Number:

11.802

Funding or Pin Number:

MBDA-OBD-2021-2006868

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

USA Territories: American Samoa (USA)   Guam (USA)   Puerto Rico (USA)   Virgin Islands (USA)   Northern Mariana Islands (USA)

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