Vice President Harris Announces Slate of Actions to Help Black and Minority-owned Small Businesses

Vice President Kamala Harris used her time at Freedman’s Bank Forum to announce new public and private-sector efforts to advance racial equity.
Harris said the administration recognizes the continued difficulty that Black-owned businesses have in finding funding.
She acknowledged that they routinely are the first to suffer during an economic downturn.
Among a slate of new actions by the Biden-Harris administration, the vice president announced that the Small Business Administration (SBA) would propose a rule this fall to expand its lender base by lifting the moratorium on new Small Business Lending Companies.
The action would allow new lenders to apply for a license to offer SBA-backed 7(a) small business loans.
Also, the Minority Business Development Agency (MDBA) will issue a $100 million notice of funding opportunity to provide technical assistance grants for entrepreneurship technical assistance providers to help businesses owned by socially and economically disadvantaged individuals launch, scale, and connect with growth capital.
Harris said to facilitate greater availability of small-balance mortgages, and HUD would issue requests to solicit specific and actionable feedback on the barriers that prevent the origination of these mortgages and recommendations for increasing the volume of small-mortgage loans in federal programs.
The White House said these and a host of other new policy steps follow two recent announcements by the administration of billions of dollars in investments for Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs).
The actions aim to deliver capital and resources to underserved small businesses and the community lenders who serve them, Harris stated.
“Small businesses are the engines of our economy and the path to economic prosperity for countless Americans in underserved communities,” the vice president asserted.
“Community lenders – including CDFIs, MDIs, and others – are vital to unlocking the full economic potential of these communities, turning previously sidelined talent into a source of economic growth and shared prosperity for all.”
Earlier, Janet Yellen, the U.S. Department of Treasury secretary, said the White House sought to use the Freedman’s Bank Forum to shine a spotlight on how the administration’s pandemic relief efforts supported Black – and minority-owned businesses.
The forum, launched in 2015, seeks to develop strategies to help stamp out and overcome systemic racism in the financial industry.
“Unfortunately, for too long, the small business ecosystem in underserved communities has struggled to keep up with better-funded businesses and entrepreneurs in more prosperous communities,” Harris stated.
“Entrepreneurs of color regularly report being turned away by traditional financial institutions for loans at higher rates than their white counterparts. And the community lenders committed to filling that gap similarly report that shortfalls in capital and technical capacity limit their ability to invest in the communities that need them the most.”
Click here to view a White House Fact Sheet on the Biden-Harris initiatives to help Black-owned and minority businesses.

October 16, 2023, HOUSTON, TX – Congressional Candidate Amanda Edwards has raised over $1 million in less than 4 months, a substantial sum that helps bolster the frontrunner status of the former At-Large Houston City Council Member in her bid for U.S. Congress. Edwards raised over $433,000 in Q3 of 2023. This strong Q3 report expands on a successful Q2 where Edwards announced just 11 days after declaring her candidacy that she had raised over $600,000. With over $829,000 in cash-on-hand at the end of the September 30th financial reporting period, Edwards proves again that she is the clear frontrunner in the race. “I am beyond grateful for the strong outpouring of support that will help me to win this race and serve the incredible people of the 18th Congressional District,” said Edwards. “We are at a critical juncture in our nation’s trajectory, and we need to send servant leaders to Congress who can deliver the results the community deserves. The strong support from our supporters will help us to cultivate an 18th Congressional District where everyone in it can thrive.” Edwards said. “Amanda understands the challenges that the hard-working folks of the 18th Congressional District face because she has never lost sight of who she is or where she comes from; she was born and raised right here in the 18th Congressional District of Houston,” said Kathryn McNiel, spokesperson for Edwards’ campaign. Edwards has been endorsed by Higher Heights PAC, Collective PAC, Krimson PAC, and the Brady PAC. She has also been supported by Beto O’Rourke, among many others. About Amanda: Amanda is a native Houstonian, attorney and former At-Large Houston City Council Member. Amanda is a graduate of Eisenhower High School in Aldine ISD. Edwards earned a B.A. from Emory University and a J.D. from Harvard Law School. Edwards practiced law at Vinson & Elkins LLP and Bracewell LLP before entering public service. Edwards is a life-long member of St. Monica Catholic Church in Acres Homes. For more information, please visit www.edwardsforhouston.com

As September 13th rolls around, we extend our warmest birthday wishes to the creative powerhouse, Tyler Perry, a man whose indomitable spirit and groundbreaking work have left an indelible mark on the world of entertainment. With his multifaceted talents as an actor, playwright, screenwriter, producer, and director, Tyler Perry has not only entertained but also inspired audiences worldwide, particularly within the African-American community, where his influence and role have been nothing short of powerful. Born in New Orleans, Louisiana, in 1969, Tyler Perry’s journey to stardom was a path riddled with adversity. Raised in a turbulent household, he found refuge in writing, using it as a therapeutic outlet. This period of introspection gave rise to one of his most iconic creations, Madea, a vivacious, no-nonsense grandmother who would later become a beloved figure in Perry’s works, offering a unique blend of humor and profound life lessons. Despite facing numerous challenges, including rejection and financial struggles, Perry’s determination and unwavering belief in his abilities propelled him forward. In 1992, he staged his first play, “I Know I’ve Been Changed,” which, although met with limited success, was a pivotal moment in his career. Unfazed by initial setbacks, Perry continued to hone his craft, and by 1998, he had successfully produced a string of stage plays that showcased his storytelling prowess.

Calling all teenage student-athletes! If you have dreams of playing college soccer and wish to represent an HBCU, the HBCU ID Camp is your golden opportunity. From 8 am to 5 pm on November 11-12, Houston Sports Park will transform into a hub for aspiring male and female soccer players. Coaches from HBCUs across the nation will be present to evaluate, scout, and offer valuable feedback. Moreover, they might even spot the next soccer prodigy to join their collegiate soccer programs. This camp is not just about honing your soccer skills but also a chance to connect with the HBCU soccer community. You’ll learn the ins and outs of what it takes to excel on the field and in the classroom, which is crucial for a college athlete. The HBCU ID Camp is an excellent platform to network with coaches, learn from experienced athletes, and take the first steps toward your college soccer journey. To secure your spot at this incredible event, don’t forget to register [here](insert registration link). Space is limited to 120 participants, so make sure to reserve your place before it’s too late. It’s time to turn your dreams of playing college soccer into a reality.

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