The National Urban League’s Entrepreneurship Center in St. Louis is accepting applications for the U.S. Minority Business Development Agency’s Small Business Capital Reserve Program.
St. Louis was selected as one of three chapters nationwide, joining Cincinnati and Los Angeles in an initiative launched by the Biden-Harris Administration to increase access to capital for underserved entrepreneurs.
The Commerce Department’s investment will help businesses access financing with financial support from the $10 billion State Small Business Credit Initiative.
Key highlights include:
Access to capital: Technical assistance to facilitate applications for funding programs and connecting with investors.
Access to networks: Connect entrepreneurs with mentors, coaches and peers to help them overcome challenges.
Capacity building: We provide technical support to develop scalable businesses with a focus on the underprivileged.
The program goals are to:
Serving minority, female and underserved populations in St. Louis.
We help entrepreneurs improve their business capabilities.
It provides access to capital opportunities and networks.
Michael McMillan, president of the Urban League of Metropolitan St. Louis, said the program will help support local entrepreneurs and spur economic growth.
Entrepreneurship Center Director Aleta Grimes Mitchell emphasized that the program will help small business owners expand and innovate.
To apply, visit the Urban League’s website at www.ulstl.com or contact the Center for Entrepreneurship at entrepreneurship@urbanleague-stl.org. Applications are open to businesses that have been established in Missouri for at least one year.
