# 2023 MBDA Capital Readiness Program

Source: https://welltoldgrants.com/grants/mbda-obd-2023-2007775-2023-mbda-capital-readiness-program/  
Official notice: https://www.grants.gov/search-results-detail/346458

> Department of Commerce offered grants of up to $3.0 million (at least $200,000) to nonprofits. It expected to make about 231 awards worth $93.5 million in total. Applications closed on March 10, 2023.

| Field | Value |
|---|---|
| Opportunity number | MBDA-OBD-2023-2007775 |
| Agency | Department of Commerce |
| Status | Forecast |
| Deadline | March 10, 2023 |
| Award ceiling | $3.0 million |
| Award floor | $200,000 |
| Expected awards | 231 |
| Total funding | $93.5 million |
| Cost sharing | required |
| Assistance Listings | 11.034 |

## Who can apply

- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Others (see text field entitled "Additional Information on Eligibility" for clarification)

Non-profit organizations,• Private sector entities (defined as entities that are not public sector entities). This includes, for example, for-profit entities of any type, including sole-proprietorships, partnerships, limited liability companies, and corporations, but does not include public sector entities, such as Federal, State, Local, or Tribal Governments, agencies, or any of their instrumentalities,• Institutions of higher education, and• A consortium of two or more of any of the above-mentioned eligible applicants. In a consortium application, there must be a designated lead applicant; the lead applicant would enter into the award agreement with MBDA and assume primary operational and financial responsibility for completing the project should an award be made.

## What the grant funds

MBDA seeks to make lasting changes for America’s entrepreneurs through this MBDA Capital Readiness Program (hereinafter referred to as this “Program”) by seeking applicants who will help close the gaps in entrepreneurial opportunities for socially and economically disadvantaged individual (SEDI) entrepreneurs and help unleash a new era of business growth, hiring, and wealth. The spirit of entrepreneurship, where every individual with the desire and drive to build a business could have the opportunity to do so, is an important American value. Unfortunately, historic, and systemic barriers continue to make success more difficult to reach for SEDI entrepreneurs. In addition, the COVID-19 pandemic disproportionately impacted SEDI entrepreneurs and their businesses. The American Rescue Plan Act of 2021 re-authorized the Department of Treasury’s State Small Business Credit Initiative (SSBCI) program to help revive entrepreneurship in America after the devastation of the COVID-19 pandemic. SSBCI provides a combined $10 billion to empower small businesses to access capital. SSBCI provides jurisdictions (states, the District of Columbia, territories, and Tribal governments) funding for: (1) credit and investment programs for existing small businesses and start-ups and (2) technical assistance to small businesses applying for SSBCI funding and other government small business programs. This $93.5 million Program funded by MBDA aims to fund applicants who provide SEDI entrepreneurs with the resources and technical assistance necessary to launch and scale investable businesses that may successfully access capital through SSBCI, other government programs, or other sources of capital. MBDA expects participants in technical assistance funded by this Program to be SEDI-owned businesses2 that are applying, have previously applied, or plan to apply to an SSBCI capital program or other government program that supports small businesses. For this Program, “Capital” is defined as equity investments, debt, or grants.

## Questions people ask

### Is MBDA-OBD-2023-2007775 still open?

No. It closed on March 10, 2023.

### Who can apply for 2023 MBDA Capital Readiness Program?

Department of Commerce accepted applications from nonprofits. The notice adds further conditions, so read its eligibility section.

### What is the deadline for 2023 MBDA Capital Readiness Program?

Closed March 10, 2023. Applications are no longer accepted; the program's newer notices are on this page when there are any.

### How much funding is available?

Awards of up to $3.0 million each. About $93.5 million in total across about 231 awards.

### Who has won MBDA Capital Readiness Program grants before?

The largest recipients over five fiscal years were Young Women's Christian Association of Oahu, The Community Development Venture Capital Alliance, Idaho Hispanic Foundation, Inc. The program made 38 awards worth $103 million in that time.