Benefits of Certification
SLMBC focuses on:
- Increasing the overall number of contracts given to minority businesses.
- Improving capacity and capabilities so that MBEs can grow and retain larger projects over a longer period of time.
- Involving minority businesses in national contracts.
To achieve this, we offer a variety of workshops, resources, and tools that complement our three core focus areas:
- Opportunity Creation
We encourage major corporations to include minority vendors in their contract selection process, to increase the number of national contracts given to minority businesses, and to increase capacity and capabilities so that MBEs continue to grow and perform at the highest levels possible.
- Financial Stability
We provide project funding up to $1 million and other financial services to certified MBEs through the Business Consortium Fund Guaranty/Loan Participation Program.
We spur growth and development among MBEs by providing educational programs that bolster business expertise, proficiency levels, and technical confidence. Through a series of classes, seminars, and workshops – many of which are offered at major colleges and universities – SLMBC teaches vendors how to run their businesses efficiently and cost effectively.
Other Programs Include:
- Business and training seminars that help MBEs gain a firm command of all aspects of their business operations.
- Identification of minority-friendly funding sources, such as the Business Consortium Fund (BCF) and the Urban Enterprise Loan (UEL) program.
- Networking forums, such as the annual Business Opportunity Fair (BOF), general membership meetings, and annual golf and sports outings, that enable MBEs and buyers to cultivate business relationships.
- An opportunity to secure scholarships to participate in the nation’s prestigious business-development programs, including Basic Supply Chain Management at St. Louis University, the Amos Tuck Minority Business Executive Program at Dartmouth College and the Advanced Management Education Program at Kellogg School of Management, Northwestern University.
- Mentoring opportunities with corporate members who are committed to leveraging their size, competencies, buying power, and financial resources to help MBEs expand their capacity and capabilities.
- Referral service that forwards to MBEs bids and other business opportunity notices received by SLMBC. A list of purchasing contacts at member companies.
- Buyer/supplier forums that match corporate buyers and MBEs from the same industries to explore business opportunities.