The National Minority Supplier Development Council (NMSDC) acknowledges the recent appointments by President-elect Trump and expresses our commitment to collaborate in advancing the interests of minority business enterprises (MBEs). We look forward to meeting with Secretaries-designate Bessent and Lutnick, and Administrator-designate Loeffler. We congratulate the Trump administration on their nominations and wish you luck as you navigate the appointment process.
Regarding these appointments, NMSDC CEO and President Ying McGuire issued the following statements:
Appointment of Scott Bessent as Secretary of the Treasury
NMSDC recognizes the appointment of Scott Bessent as Secretary of the Treasury. The Treasury Department plays a pivotal role in shaping the financial landscape that affects all businesses, particularly MBEs. Minority-owned businesses often face significant barriers to accessing capital and financial services, which are essential for scaling their operations and competing in today’s economy.
Secretary-designate Bessent’s extensive background in global finance and investment strategy positions him well to tackle these challenges. We look forward to collaborating with the Treasury Department to advance policies that prioritize equitable access to capital markets, strengthen community lending institutions, and encourage greater private sector investment in minority-owned businesses. By addressing systemic disparities in financial systems, we can help create an environment where MBEs not only survive but thrive, contributing to economic equity and national prosperity.
Appointment of Howard Lutnick as Secretary of Commerce
NMSDC notes the appointment of Howard Lutnick as Secretary of Commerce and welcomes his extensive leadership experience as a valuable asset to the Department. The Commerce Department has a significant role in fostering innovation, expanding international trade, and ensuring that businesses across the spectrum have the tools to succeed. MBEs are integral to this vision, contributing to the economy through their creativity, adaptability, and commitment to excellence.
We look forward to working with Secretary-designate Lutnick to advance initiatives that expand opportunities for MBEs, such as increasing access to international trade programs, fostering innovation ecosystems, and championing supplier diversity in both the public and private sectors. By leveraging the Commerce Department’s resources and partnerships, we aim to ensure that MBEs are not only participants but leaders in driving the next chapter of economic growth. This collaboration will be instrumental in building a robust and inclusive economy where all businesses, regardless of size or background, can thrive.
Appointment of Kelly Loeffler as Administrator of the Small Business Administration (SBA)
NMSDC acknowledges the appointment of Kelly Loeffler as Administrator of the Small Business Administration. The SBA has long been a cornerstone of support for small businesses, offering essential access to capital, training, and contracting opportunities that enable these enterprises to grow and thrive. MBEs are key drivers of innovation and job creation in their communities, and the SBA’s programs are critical in addressing the unique challenges they face.
Administrator-designate Loeffler brings a blend of private-sector leadership and public service experience to the role. We are eager to work with her to ensure that SBA resources are equitably accessible to MBEs, particularly in areas like streamlining the loan application process, expanding outreach efforts to underserved communities, and enhancing the role of MBEs in federal contracting. NMSDC is committed to advocating for policies and initiatives under her leadership that will enable minority entrepreneurs to build resilient and prosperous businesses, contributing to the broader economic success of our nation.
