U.S. Minority Business Development Agency and Urban Strategies, Inc. Announce New Partnership to Strengthen Opportunities and Access for Minority Businesses

BALTIMORE, July 29, 2024 /PRNewswire/ -- Acting Under Secretary of Commerce for Minority Business Development at the Minority Business Development Agency (MBDA) Eric Morrissette and Esther Shin, president of Urban Strategies, Inc. (USI), celebrated a partnership with the signing of a memorandum of understanding to strengthen opportunities and access for emergent enterprises of color throughout the country.

As a federally designated Community Development Financial Institution, Urban Strategies' CDFI focuses on helping underserved businesses and communities prosper with training and expertise in accessing necessary resources.

"The ability for Black, Latinx, Indigenous, and other marginalized communities to dream and actualize their economic goals is oftentimes a hard-fought battle. These entrepreneurial dreamers, in partnership with USI and the USI CDFI, are building a pathway to access resources with thoughtful funders and strategic partners who understand the systemic challenges that call for meaningful and equitable strategies. USI is proud to solidify this partnership with the Minority Business Development Agency to create pathways for families with enterprising aspirations to achieve stability, prosperity, and liberation." - Esther Shin, USI, President

The mission of the MBDA is to foster, promote and develop minority enterprises, including promoting their growth and global competitiveness, by providing technical assistance and highlighting business development opportunities. Financial assistance provided by the agency is designed to help deliver a range of services.

Through the partnership, USI and the MBDA will work as strategic partners to scale access to services and capital for emergent businesses of color, leveraging the capabilities of each organization to expand public awareness of their priorities, initiatives and resources. They will also identify opportunities to support each other's work, with efforts to recognize USI as a collaborator with MBDA grantees nationwide, including sharing information about USI activities through MBDA networks.

USI will provide opportunities for MBDA officials to speak at and become engaged in USI-hosted events and share information about the agency's programs through its network.

About the U.S. Minority Business Development Agency (MBDA): 

The U.S. Department of Commerce, Minority Business Development Agency is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority business enterprises (MBEs). For more than 50 years, MBDA's programs and services have better equipped MBEs to create jobs, build scale and capacity, increase revenues, and expand regionally, nationally, and internationally.                                                      

About USI CDFI
The USI Community Development Financial Institution (CDFI) Certification is a designation given by the CDFI Fund to specialized organizations that provide financial services in low wealth communities and to people who lack access to financing. The USI CDFI provides equitable access to affordable financial products and services. For information www.usi-cdfi.org

About Urban Strategies Inc.
Founded in 1978, Urban Strategies, Inc. is a national nonprofit leader with extensive experience in implementing results-based human capital development strategies in communities that are undergoing physical revitalization. USI supports communities while working with partners to develop economic opportunities, cradle-to-college/career success, high quality health services and a range of comprehensive service supports. The organization is leading people efforts and neighborhood transformation in 32 cities and 48 communities across the nation. USI's mission is to help ensure that all families will be stable and thriving. For more information www.usi-inc.org.

Contact:
Cindy Wallach 
1-314-922-8060 
[email protected]

SOURCE Urban Strategies, Inc