Establishes the Small Business Growth and Empowerment Fund to support minority-owned and women-owned businesses in underserved areas.
The Small Business Growth and Empowerment Act establishes a fund to support economic development activities for minority-owned and women-owned businesses in underserved areas. The fund can be used for site development, infrastructure, tourism, planning, training, entrepreneurship, and technological improvements. Grants can be made to local governments, political subdivisions, state government subdivisions, or non-profit organizations. The fund is composed of appropriations and donations.
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