Minority Entrepreneurship Grant Program Act of 2025

Summary

Creates an SBA grant program and an advisory board to help minority-serving institutions and historically Black colleges and universities build or expand entrepreneurship programs for minority students and aspiring minority business owners. The SBA must set up the grant program and the Minority Entrepreneurship Advisory Board within 180 days, award grants of at least $250,000 for business development and access-to-capital activities, require program and grantee reporting, and the law authorizes $50 million to carry out the program.

• Creates an SBA grant program to expand entrepreneurship programs at MSIs and HBCUs, with grants of at least $250,000 each.
• Authorizes $50 million to implement the program (authorization of funds, not an appropriation line item).
• Grantee funds may be used for business-development services and access-to-capital costs, including forming new enterprises.
• Grantees must submit mid-year and year-end reports with counts of students served and businesses created; SBA must report to Congress starting 18 months after the first grant.
• Establishes a Minority Entrepreneurship Advisory Board to make recommendations to Congress; the board is exempt from the Federal Advisory Committee Act.
• SBA must create both the program and the advisory board within 180 days of enactment; the board must deliver recommendations within 18 months.
• Definitions in the law explicitly include HBCUs and multiple categories of MSIs and define 'minority' by statute and cross-reference to MBDA rules.
• Focuses support directly on minority students and prospective minority business owners connected to MSIs/HBCUs, aiming to increase minority business ownership and access to capital.