Currently, SBA has 10 centers affiliated with HBCUs in North Carolina, Virginia, Mississippi and Maryland.
“Not only do they have a history of educating African Americans, they have a history of service to their communities. And so we figured that we would invest in those who have always invested in underserved communities,” said Donald Smith, deputy assistant administrator for These centers offer guidance, counseling and help women entrepreneurs gain access to capital.
In Baltimore, the center at Morgan State works with more than 500 women. Now, Frank says they need even more federal funding to keep up with demand. “It’s hard to keep up with! We need more resources, we need [more] money, so we can hire more people to help more people,” said Frank. SBA officials say they’re also working to increase the number of women business owners who receive contracts with the federal government. There are also similar hubs located at Hispanic-serving institutions.
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