The Small Business Administration (SBA), the Federal Depository Insurance Corporation (FDIC), and the U.S. Department of Agriculture (USDA) are working together to give small companies, such as farmers and ranchers, the funding and equipment they need to expand. These organizations will host free events in Mississippi, Kentucky, and Georgia, providing professional advice on starting a business, getting access to capital, and conducting business with the government as part of a series of regional economic development workshops on the “Path to Prosperity.”
Government contracts are one method by which the USDA may assist small companies in getting access to funding. In addition, they may encourage unbanked and underbanked small company owners and people to build a lasting connection with an insured financial institution thanks to their procurement portfolio, worth over $9 billion yearly. To improve the bankability of small business owners and individuals, USDA also aims to increase the number of SBA-certified lenders, increase the availability of capital for small, minority, and underserved businesses, and establish working relationships with partners in the public and private sectors.
Participants in the workshop will include local, state, and federal agencies, small enterprises, financial institutions, community development financial institutions (CDFIs), trade groups, nonprofits, community leaders, and community-based personnel from organizations. These events will occur in Albany, Georgia; Lexington, Kentucky; and Jackson, Mississippi, to reach residents and companies.
George A. Sears, director of the USDA’s Office of Small and Disadvantaged Business Utilization, claims these areas were picked because local companies utilized USDA procurement opportunities less frequently than other firms. All participants must register to participate either “In In-Person” or “Virtually.”
The third and final southern state competition will occur at Student Center Ballroom C266 at Albany State University – West Campus, 2400 Gillionville Road, Albany, Georgia 31707, on Tuesday, May 2, 2023, from 8:00 am to 5:00 pm EST. Small companies will have a great chance to network with other company owners, learn about the most recent possibilities and trends in their sector, and have access to essential tools and resources that will support their growth and success.