CONGRESSIONAL HISPANIC CAUCUS INITIATIVE | Representative Yadira Caraveo, Representative Nanette Barragán, and Don Graves, Deputy Secretary of Commerce of the United States, conversed with Hispanic entrepreneurs in Colorado. (Photo/El Comercio de Colorado)
YADIRA CARAVEO PRESIDES MEETING WITH ENTREPRENEURS
Newsroom El Comercio de Colorado
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The Deputy Secretary of Commerce of the United States, Don Graves, visited Colorado and met with local entrepreneurs. Graves was joined by Representatives Yadira Caraveo, representing Colorado’s 8th District, and Nanette Barragán, from California’s 44th District, in a roundtable discussion in Commerce City, Adams County, Colorado, with small minority-owned business owners.
Representative Caraveo emphasized the importance of this meeting by highlighting the value of minority-owned businesses, especially in communities like Commerce City, which have a significant presence of Latino-owned enterprises. Caraveo stressed that supporting these businesses is a priority for the Biden administration overall, and for the Department of Commerce in particular.
“Graves’ presence reflects the government’s commitment to the growth and development of minority-owned businesses in the United States,” said Caraveo. She also explained the significance of her colleague’s presence in the House of Representatives. “Representative Barragán, chair of the Congressional Hispanic Caucus (CHC), along with all of us in that group, aims to ensure that the population we represent utilizes these business support programs,” she said.
Agency for Minority-Owned Enterprises
Representative Barragán shared the importance of passing the Minority Business Development Agency Act. She explained that it is a provision included in the bipartisan infrastructure law with significant impact. This law provides permanence to the Minority Business Development Agency (MBDA) and doubles the funds allocated to this agency, allowing for greater expansion of its services.
Barragán highlighted that with more resources, rural areas and diverse communities can be better served. “Here in Commerce City, you can now access a greater number of grant programs, various types of credits, or training and counseling programs. Our concern is to inform and disseminate among other minority entrepreneurs about these opportunities,” Barragán added.
Support for Wealth Generation
Graves reiterated the government’s commitment to the economic growth of Latino and minority communities. He emphasized diversity as one of the greatest strengths of the United States. The Deputy Secretary pointed out that investing in minority-owned businesses, including those led by women, is essential for economic progress and wealth generation in all communities.
Furthermore, Graves highlighted the government’s efforts to strengthen the capital access ecosystem, with a $100 million investment aimed at providing specific resources for businesses owned by minorities and socially disadvantaged owners. This official expressed satisfaction at meeting with the owners of Mi Pueblo Marque, of Salvadoran origin. “They are an example of resilience and success,” Graves noted.
ENTREPRENEUR | Manuel Luna participated in a dialogue about programs of the Minority Business Development Agency.
A local entrepreneur’s message
The roundtable discussion with Caraveo, Barragán, and Graves took place at Salón Madrid, an important event venue located on Monaco Street in Commerce City. Manuel Luna, owner of Salón Madrid, along with fifteen other minority entrepreneurs, shared their concerns with these officials and explained the needs to grow their businesses.
“I went through a tough time during the pandemic. My sector of activity came to a complete halt. It took us a long time to recover. But we have succeeded, and we have a completely renovated establishment, incorporating new materials and technology that all customers now request. We have projects and ideas to continue growing and consolidating. These programs announced can help us,” Luna said.
Visit the Minority Business Development Agency (MBDA) website
Watch the presentation of the officials
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