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Rhode Island makes funding commitment to MBEs

During his recent State of the State address, Rhode Island Governor Dan McKee announced that his administration will oversee the funding of a new Minority Business Support Initiative in the amount of $10 million.

The initiative will make use of a variety of methods in service of the goal of fostering minority business enterprise (MBE) growth in the state, including: making more grants and low-interest loans available to MBEs; providing technical assistance to MBEs on various operational challenges; providing support to the various advocacy and networking organizations that seek to benefit MBEs; and more.

"[MBEs have] had more hurdles to jump to get over that finish line. That is why my budget proposal includes the Minority Business Support Initiative, to help reduce those hurdles," said Governor McKee in a press release.

Read the press release from the Governor's Office at https://governor.ri.gov/press-releases/governor-mckee-include-small-business-article-fy2023-budget-utilize-10m-arpa-dollars.