The Center by Lendistry, a technical assistance organization, has announced the launch of a new Contractors Accelerator program designed to help women- and diverse-owned Southern California small businesses gain the knowledge and skills to pursue millions in public contracts. The four-part virtual series will provide resources and hands-on learning to better understand the public contract research, pitching, and bidding process. Participants will also receive guidance in post-award preparation and project management. The application is open and businesses are invited to apply until Feb. 17.
Public contracting is a powerful economic development strategy, yet diverse small business owners only get a fraction of these awarded contracts. The Contractors Accelerator program will help diverse entrepreneurs overcome barriers and prepare them to compete for these lucrative opportunities. Furthermore, the COVID-19 pandemic had disproportionate impacts on diverse small businesses, underscoring the critical need to identify new sources of income.
In partnership with The Center's technical assistance provider, CMG Alliance, this unique cohort experience, will provide world-class training and individualized support to help entrepreneurs confidently navigate the bidding process. The inaugural cohort - which commences in March - is expected to serve up to 25 BIPOC, woman, veteran, and LGBTQ-owned small businesses.
"Contracting dollars have the enormous potential to help create wealth in communities of color. We are excited to launch this program to help businesses and local communities thrive in an ever-changing economy," said Tunua Thrash-Ntuk, CEO and President of The Center by Lendistry.
"CMG Alliance is proud to partner with The Center on this important initiative. We look forward to working with diverse entrepreneurs and helping them to pursue opportunities that they might not have pursued on their own," said Rene Cota, President of CMG Alliance.
The Contractors Accelerator program is made possible with generous support from Wells Fargo, First Citizen's Bank, and Silicon Valley Bank.
Learn more at https://thecenterbylendistry.org/contractors-accelerator/.
About The Center by Lendistry
The Center by Lendistry is a nonprofit organization that supports diverse small businesses through education, technical assistance, and access to competitive financing. They are committed to closing the racial wealth gap and accelerating economic development by anchoring small businesses and the communities where they do business. Learn more at www.thecenterbylendistry.org.
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Original Source: The Center by Lendistry Launches Accelerator to Prepare Southern California Diverse Entrepreneurs to Win Millions in Public Contracts