Grants / Department of Commerce / Department of Commerce

MBDA-OBD-2023-2007775: 2023 MBDA Capital Readiness Program

Closed Closed March 10, 2023 Opportunity MBDA-OBD-2023-2007775 ☆ Save

This grant is closed. Who won this program's grants before is below, and similar open grants are at the end of the page. It is in our archive of Department of Commerce notices from 2023.

• Award ceiling$3.0 million
• Award floor$200,000
• Total funding$93.5 million
• Expected awards231
• Cost sharingRequired
• Funding typeCooperative Agreement

Key dates

Who can apply

This opportunity was open to nonprofits.

• 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.

More grants for nonprofits.

Is this a realistic fit?

• Past MBDA Capital Readiness Program awards averaged $2.7 million; this notice allows up to $3.0 million per award.
• Most of the program's money (75% over five years) went to nonprofits.
• The notice requires cost sharing or matching funds, so you must contribute part of the project cost.

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.

Category: Other.

Applying now

This notice no longer takes applications. Agencies often post the same opportunity again under a new number, so check the program's notices on Grants.gov and the similar open grants below.

The notice on Grants.gov keeps its full text and attachments, which is useful for planning a resubmission.