Flagstar Bank Grants MBDI $100,000 to Support Diverse Contractor Education

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Jan 04, 2024, 08:42 ET

NEW YORK, Jan. 4, 2024 /PRNewswire/ -- Minority Business Development Institute (MBDI) is pleased to announce the receipt of a $100,000 grant from Flagstar Bank to support MBDI's Bonding Program for Minorities, Women and Service-Disabled Veteran-owned construction contractors and small businesses in the five Boroughs of New York City.

Flagstar Bank's Randi Schneer and Sarah Mohammed at the MBDI Fundraising Gala, November 30, 2023

MBDI Diverse Contractors and Scholarship Recipients at MBDI Fundraising Gala, November 30, 2023

"We are driven to help people take charge and thrive," said Beverly Meek, community reinvestment act director for the bank. "This grant paired with MBDI's program embodies advancement, parity and opportunity to help entrepreneurs in skilled trades grow their business."

David Cayemitte, who founded MBDI, added, "We are grateful for Flagstar's faith in MBDI. This money will be used to improve our best-in-class curriculum to position diversly owned CEOs to grow sustainably and profitably. This grant will also support our launch of a new, sophisticated Learning Management System which integrates AI tools to help us track community impact by zip code, ethnicity, and gender. We are excited that MBDI and Flagstar's goals align so well to improve MWBE and SDVOB businesses."

About Minority Business Development Institute (MBDI): MBDI was founded in 2010 and cultivates project ready, bankable, bondable, and properly insured contractors, small businesses in construction, and affordable housing developers. MBDI educates up-and-coming CEO's, creating a pool of project ready firms that will eliminate the need for waivers by positioning agencies, construction managers, primes, and owners to meet diversity spending goals. MBDI has mentored over 600 contractors, affordable housing developers, and other diversely owned small businesses. MBDI is an integral part of an ecosystem that grows MWBE and SDVOB business capacity and increases diversity spending in insurance and in construction. (www.minoritybdi.org)

For further information, please contact:
David Cayemitte
Chief Executive Officer
Minority Business Development Institute
Mobile: (215) 850-4546
370736@email4pr.com

SOURCE MBDI