Detroit Contractor Opportunity Fair to be held Friday
Thanks to the $42 million in new blight removal funds coming to Detroit, there will be increasing opportunity in Detroit’s demolition and home rehab industries. This Friday, contractors in these areas will be able to meet and hear from a range of City officials to find out how to access those opportunities. To help meet the growing demand for production, the City will host a
Contractor Opportunity Fair to connect more Detroit-based and minority-owned Detroit contractors with this increase in opportunity. 150 individuals representing over 100 companies have already registered to attend the Fair.
The event will be held from 1:00 – 4:00 p.m. on May 13, 2016 at the Northwest Activities Center, located at 18100 Meyers. Registration begins at noon. The goals of the fair are to:
•Increase the number of Detroit contractors certified with the City of Detroit. Detroit companies that have been in business for two years or less can get certified with the City of Detroit for just $150, a steep discount from the usual rate of $600. Detroit certified contractors will have their business listed on www.detroitmi.gov, www.buildingdetroit.org, and provided to Detroit Land Bank auction home buyers. Registered contractors will also be eligible for work with the City of Detroit and the Detroit 0% Home Loan program.
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Minority Business Development Agency announce project to help fund businesses
WASHINGTON —The U.S. Department of Commerce Minority Business Development Agency (MBDA) has announced a competitive solicitation for candidates interested in operating a new MBDA Capital Project. MBDA will award one cooperative agreement totaling $2.5 million over a fiveyear period – from fiscal year 2016 to fiscal year 2021 – to operate the project in any of the 50 states or Puerto Rico. The Capital Project, the first of its kind in the Agency’s history, is designed to serve as a hub for minority business enterprises (MBEs)
across the country seeking financing solutions to grow and expand their businesses. It is a key component of the Agency’s overall portfolio of business development services that will result in MBE clients securing debt, equity, mezzanine financing and alternative sources of capital. “Access to capital remains one of the most prevalent barriers for the creation, expansion and growth of minority-owned firms,” said MBDA National Director Alejandra Y. Castillo. “The new MBDA Capital Project is an important investment that will help minority-owned firms secure financing to grow their businesses, create jobs, and continue to contribute to a stronger U.S. economy. According to data fromthe U.S. Census Bureau’s 2012 Survey of Business Owners, minorityowned firms in the U.S. rose from 5.8 million in 2007 to 8.0 million in 2012, a 38 percent increase. However, considerable disparities remain between their revenue and the revenue of nonminority-owned companies. The Capital Project is part of the Agency’s commitment to addressing these disparities by increasing financing opportunities for MBEs. *continued in this week's edition