The Supporting Diverse Entrepreneurs Act amends an existing federal law to expand the Minority Business Development Agency (MBDA) Business Centers program by allowing these centers to be located in or near historically Black colleges and universities and other minority-serving institutions. This change makes it easier for entrepreneurs at these educational institutions to access business development resources and support services. The bill accelerates the program's start date from 2025 to 2024 and provides $125 million in annual funding beginning in fiscal year 2025 and continuing in subsequent years. The legislation is designed to help minority entrepreneurs gain better access to business counseling, training, and other assistance needed to start and grow their companies. The bill was introduced in July 2024 and referred to both the House Committee on Financial Services and the Committee on Small Business.
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