The U.S. Small Business Administration (SBA) has announced the formation of a pioneering pilot program: the Tribal College Small Business Achievement (TCSBA) grant. This initiative seeks to bridge gaps in financial accessibility for Native American entrepreneurs, many of whom face social and economic disadvantages.
Administrator Isabella Casillas Guzman, representing the SBA and President Biden’s Cabinet on behalf of the 33 million small businesses in the U.S., unveiled the initiative. The central goal of the TCSBA grant is to offer holistic and result-driven business services to both emerging and established Native American entrepreneurs.
Administrator Guzman highlighted the Biden-Harris administration’s commitment to fortifying tribal communities and said, “By partnering with Tribal Colleges and Universities, SBA aims to provide Native American and Indigenous entrepreneurs with more tools and resources to help them start and grow their businesses, create local jobs, and deliver for our economy.”
The program delineates financial support for Tribal Colleges and Universities as set out in the Higher Education Act HEA 316 (U.S.C. 1059c). This aid intends to supercharge students’ entrepreneurial spirits and invigorate local small businesses to generate tangible economic impacts, as gauged by successful business launches, job sustainability, and heightened company revenues.
For small business owners, particularly those from Native American communities, this presents an unprecedented chance to leverage the benefits of the pilot partnership. The TCSBA program will offer grants of up to $250,000 annually to tribal colleges and universities for a period of up to five years. Notably, this is the first collaboration of its nature with Tribal Colleges and Universities to aid student entrepreneurs and ongoing businesses within the community simultaneously.
The recipients of the four new TCSBA grants are:
- Haskell Indian Nations University, Lawrence, KS
- Nebraska Indian College, Macy, NE
- Salish and Kootenai College, Pablo, MT
- Institute of American Indian Art, Santa Fe, NM
In its mission to broaden its reach to Native American entrepreneurs, the SBA has extended its existing efforts through the Community Navigators program, introducing two new partners:
Small Business Deals
- Black Hills Community Loan Fund
- Indian Dispute Resolution Services, Inc.
These new collaborations, especially in regions like the Great Plains and the Southwest, reinforce the SBA’s dedication to propelling entrepreneurship within Native American territories. The SBA’s Office of Native American Affairs plays a pivotal role in channeling federal government initiatives to amplify entrepreneurial undertakings within these communities. Future applicants will be assessed on their ability to enhance the capacity of Native American businesspersons to secure capital, spawn new ventures, elevate business longevity, create employment opportunities, and more.
The launch of these programs brings to the forefront the necessity of inclusivity and diversity in the entrepreneurial landscape. Small business owners, especially those hailing from Native American backgrounds, can now look forward to a brighter horizon, filled with opportunities and substantial growth prospects.
For a comprehensive understanding of the SBA’s support mechanisms for Native American small businesses and to get acquainted with the Office of Native American Affairs, individuals and businesses can explore SBA’s official website.