Maryland Receives $10 Million for Small Businesses
Maryland Receives $10 Million for Small Businesses
Maryland Receives $10 Million for Small Businesses
News summary

Billionaire philanthropist MacKenzie Scott has made a surprise $10 million donation to Georgia-based nonprofit Access to Capital for Entrepreneurs (ACE), marking the largest contribution in the organization's history. ACE, which focuses on helping small businesses, will utilize the funds to further support entrepreneurs, particularly women and people of color. Concurrently, the U.S. Department of Housing and Urban Development awarded $10 million in grants aimed at enhancing tenant education and strengthening tenant organizations across the nation. In Maryland, Governor Wes Moore announced a similar $10 million grant from the U.S. Department of the Treasury to support small businesses through the Business Resource Information, Development, and Guidance Ecosystem (BRIDGE) program. This initiative aims to provide vital resources to underserved small businesses and facilitate their growth and competitiveness. Collectively, these funding efforts reflect a broader commitment to empowering communities and fostering economic growth at various levels.

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