Minority Entrepreneurship Grant Program Act of 2025

The "Minority Entrepreneurship Grant Program Act of 2025" requires the Small Business Administration (SBA), in consultation with the Under Secretary of Commerce for Minority Business Development, to establish a grant program. This program's core purpose is to foster, promote, and increase opportunities for minority business ownership and entrepreneurship at minority-serving institutions (MSIs) and historically Black colleges and universities (HBCUs) . Grants awarded under this program will be a minimum of $250,000 and are specifically designed to support student entrepreneurs. Institutions seeking these grants must submit applications detailing the need for funds, how they will be utilized, and how new or expanded programs will support student entrepreneurs, whether they are establishing new businesses or seeking support for existing ones. Grant funds can be used to provide a range of business development resources, including free legal, accounting, human resources, marketing, and technical assistance, as well as facilitating access to capital. Grantees are required to submit mid-year and year-end reports to the Administrator, detailing the number of student entrepreneurs trained, businesses created, and referrals made to other SBA resources. Additionally, the Act mandates the establishment of a Minority Entrepreneurship Advisory Board within 180 days of enactment. This Board will develop recommendations on how MSIs and HBCUs can more effectively serve minority businesses and entrepreneurs. The Administrator must submit these recommendations to Congress, along with annual reports detailing the overall program's outcomes, including the number of students assisted and businesses created. The bill authorizes an appropriation of $50,000,000 to carry out this program.