Access Community Capital Celebrates Historic $125 Million Investment to Empower Underserved Entrepreneurs

LAS VEGAS, August 11, 2023 (Newswire.com) - Access Community Capital, as part of the newly formed Silver State Capital Readiness Consortium, celebrates the Biden-Harris Administration's historic $125 million investment in the Minority Business Development Agency's (MBDA) Capital Readiness Program. This unprecedented initiative will equip underserved entrepreneurs nationwide with the knowledge, resources, and connections to access capital and spur economic growth.

The Consortium, comprised of Access Community Capital, the College of Southern Nevada, and the Urban Chamber of Commerce, is one of 43 awardees tasked with preparing underserved entrepreneurs to secure capital, in part through operating robust business incubator and accelerator services. 

Programming will build entrepreneurial skills, peer networks, and access to critical funding — with an emphasis on serving communities in Southern Nevada, rural areas, and tribal regions where systemic barriers to securing loans and investments have been especially challenging.

"With poverty rates for underserved groups in Nevada up to twice the national average, this initiative is critical, and recognizes Nevada as a uniquely qualified location for our Consortium to maximize its impact," said Nic Steele, Executive Director of Access Community Capital. "The Consortium will provide Nevada entrepreneurs with the essential tools, education, and opportunities to successfully launch and grow thriving businesses." 

Offerings will include peer support groups, customized curriculum teaching financial management and business operations, technical assistance regarding public and private procurement processes, guidance with expanding into global markets, future-focused content on sustainability and innovation, and introductions to capital providers. To maximize accessibility, programming will be delivered through in-person workshops as well as virtual courses in seven different languages. 

"This is a pivotal moment for our community," stated CH Miller, President of the Urban Chamber of Commerce. "Being selected for the MBDA's Capital Readiness Program not only validates our dedication but also amplifies our efforts to cultivate a diverse and inclusive economy in Nevada." 

"I'm proud to see that the application submitted by Access Community Capital, the College of Southern Nevada, and the Urban Chamber of Commerce was one of the 43 awardees of MBDA's Capital Readiness Program, from over a thousand applications," said Congressman Steven Horsford. "As always, my office was eager to help with their application, and I'm confident that the program will amplify the voices and potentials of underserved entrepreneurs in Nevada, allowing them to build on their success and contribute to a more inclusive economy that works for everyone."

With the right resources and support, underserved small businesses can thrive, create jobs, build wealth, and drive economic growth. This transformative investment will not only uplift individual entrepreneurs, but entire communities. Access Community Capital commends the Biden-Harris Administration and appreciates the support of Congressman Horsford for enabling the bold dreams of diverse entrepreneurs across the country.

For more information, visit https://www.mbda.gov/CRP.

Source: Access Community Capital