Biden plans boost for Native biz

      President-elect Joe Biden on the campaign trail pledged to assist Native Americans, including Native-owned small business federal contractors. A step in that direction was his naming of Native American leader Rep. Deb Haaland, D-NM, as his choice for Interior Secretary.

      Whether he achieves those plans will depend in large part on whether the U.S. Senate is controlled by Republicans or Democrats, which will be determined in the Jan. 5 Senate Runoff Election in Georgia.

      The Biden-Harris campaign’s “Build Back Better Plan” and their “Plan for Tribal Nations” included:

• Triple the government’s goal to 15% for procurements with small disadvantaged businesses (SDBs), including Native-owned, by 2025;
• Expand and improve 8(a) Business Development services and reporting;
• Require prime contractors to develop and fully execute plans to increase subcontracting opportunities for SDBs, including Native-owned.
• Increase use of the Buy Indian Act;
• Create a “restart package” for small firms owned by Native Americans and other small businesses to restart after the pandemic crisis;
• Create a $150 billion Small Business Opportunity Fund of new capital for Native and other small businesses.
• Expand access to $100 billion in low-interest business loans to small businesses, including those owned by Native entrepreneurs, with $20 billion in new capital;
• Capitalize Community Development Financial Institutions (CDFIs) with increased resources to the Native American CDFI Assistance Program (NACA Program);
• Promote prosecutions by the Justice Dept. under the Indian Arts and Crafts Act to protect Native artisan small business owners.

More Information:
Main Street Statement: https://joebiden.com/main-street/
Tribal Nations Statement: https://joebiden.com/tribalnations/

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