In recent weeks, Trump escalated his assault on small businesses by signing an Executive Order to gut the Minority Business Development Agency (MBDA). The MBDA was created to assist businesses owned by people of color — who face the greatest barriers to accessing capital — the resources and opportunities necessary to start and sustain their businesses. Through its nationwide network, the MBDA has played a crucial role in helping minority-owned businesses secure funding, create jobs, and navigate economic challenges, including during the COVID-19 pandemic. This reckless move will have a significant impact on small businesses, particularly entrepreneurs of color who rely on the MBDA for support. Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released a fact sheet to educate the Trump Administration and members of the public about the MBDA’s mission, its essential role in supporting minority-owned businesses, and its impact on economic growth.