Rep. McNerney Secures Funds for Minority Business Development Agency
Stockton, CA – As a new study predicts that over 40% of minority-owned businesses are not expected to survive the COVID-19 pandemic, Congressman Jerry McNerney (CA-09) is continuing to push for support for these business owners, including securing $52 million in critical funds for the Minority Business Development Agency (MBDA) within the House-passed H.R. 7617 – a spending package that would provide funding for the majority of the federal government for the next fiscal year. The MBDA is the only federal agency tasked with promoting and aiding in the success of minority-owned businesses, and its programs and services have helped secure more than $40 billion in contracts and capital over the past 10 years.
“Minority-owned businesses face unique challenges, which are only being amplified by the ongoing pandemic,” said Congressman McNerney. “The COVID-19 crisis has placed overwhelming financial strain on entrepreneurs – particularly within communities of color. I’ve long supported and led efforts to secure funding for this crucial program and am pleased these funds were included in this package. As we combat the virus and work to recover from its significant impact on our economy, the MBDA must have the resources it needs to succeed in their mission to help minority-owned businesses thrive and grow.”
Since 2017, when President Trump proposed defunding the MBDA, Congressman McNerney has advocated for fully funding the only minority-focused federal agency. The Congressman also led the charge to permanently authorize the MBDA.
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Rep. Jerry McNerney proudly serves the constituents of California’s 9th Congressional District that includes portions of San Joaquin, Contra Costa, and Sacramento Counties. For more information on Rep. McNerney’s work, follow him on Facebook and on Twitter @RepMcNerney.