Sinema-Backed Bill Empowers Minority-Owned Arizona Businesses During Pandemic

Apr 23, 2021

Senator’s Minority Business Resiliency Act supports key agency within Commerce Department that supports minority-owned small businesses

WASHINGTON – Arizona senior Senator Kyrsten Sinema cosponsored the Minority Business Resiliency Act, which solidifies the Minority Business Development Agency as a subagency of the U.S. Department of Commerce, expanding its operations and providing more opportunities for minority-owned businesses to access additional support from the federal government.
“Empowering minority-owned businesses through resources and investments fuels jobs and keeps our economy moving towards recovery,” said Sinema.
Sinema’s Minority Business Resiliency Act solidifies the Minority Business Development Agency, expands the network of business centers, and includes additional fraud protections through regular reporting and internal controls. This legislation will ensure that Arizona’s minority-owned businesses have greater access to capital, contracts, and markets.
The Minority Business Development Agency is the only federal agency solely dedicated to the growth and global competitiveness of minority-owned businesses. Phoenix is home to a Minority Business Development Agency Business Center.
Minority-owned businesses have seen higher rates of closure and bankruptcy during the coronavirus pandemic. Limited access to capital and difficulty participating in Small Business Administration rescue programs—such as Economic Injury Disaster Loans and the Paycheck Protection Program—led to worse outcomes for minority-owned businesses.
In March, Sinema held a roundtable with Arizona small businesses on how they can access new coronavirus relief. Sinema successfully passed into law her bipartisan Restaurant Rescue Plan, which established $28.6 billion in direct coronavirus-relief for independent restaurants to keep Arizonans employed. Sinema also secured an extension of the Employee Retention Tax Credit to help more workers stay connected to the workforce and help more small businesses and nonprofits across the country.