Sponsors (6)
Last progress June 5, 2025 (8 months ago)
Introduced on June 5, 2025 by Nikema Williams
Creates an SBA grant program to help historically Black colleges and universities (HBCUs) and other minority-serving institutions launch or expand programs that promote minority business ownership and support student entrepreneurs, and authorizes $50 million to operate the program. Requires grant applications and reporting by grantees, authorizes permitted uses of funds for education, training, technical assistance, and startup support, and directs the SBA to form a Minority Entrepreneurship Advisory Board to produce recommendations within 18 months (Board established within 180 days).
Administrator: means the Administrator of the Small Business Administration.
Board: means the Minority Entrepreneurship Advisory Board established under section 4(a) of the Act.
Historically Black college or university: means a part B institution as defined in section 322 of the Higher Education Act of 1965 (20 U.S.C. 1061).
Minority: includes individuals who are Black or African American; Hispanic or Latino; Native or Indigenous American; Asian; Native Hawaiian or other Pacific Islander; Native Alaskan; or members of a group determined by the Minority Business Development Agency (under part 1400 of title 15, CFR, as in effect on November 23, 1984) to be socially disadvantaged and eligible for assistance.
Minority-serving institution (overall): means any of the listed specific institution types (see subitems A–G).
Primary beneficiaries will be minority-serving institutions (including HBCUs), their students (especially student entrepreneurs), and minority-owned small businesses and startups that gain access to campus-based services and supports. Institutions will receive grants to create or expand entrepreneurship curricula, incubators, mentorship, and technical assistance, which can increase the pipeline of minority founders and strengthen local small-business ecosystems. The SBA will take on program administration, grant oversight, and reporting duties, which requires staffing and monitoring resources but uses existing SBA grant-management authorities. The Advisory Board will provide policy and program recommendations intended to improve institutional practices and alignment with minority small-business needs; exempting the Board from FACA may speed formation and deliberations but reduces formal public meeting and transparency requirements. Fiscal impact is limited to the authorized $50 million; appropriation and actual spending will depend on future budget actions. The law does not change tax rules or impose mandates on state or local governments, but institutions must comply with application, reporting, and grant terms to receive funds.
Referred to the House Committee on Small Business.
