Minority Contractor Capital Access Program (MCCAP)
The Minority Contractor Capital Access Program (MCCAP) will be selecting a 2nd cohort starting next month. This program is a collaborative initiative to provide financial and technical assistance to Akron and Summit County- based minority, women, LGBTQ, persons with disabilities and veteran-owned contracting businesses.
To be eligible for the program, a business must maintain its principal location in Akron or Summit County and be at least 51% owned by one or more individuals who identify as a racial or cultural minority, woman, LGBTQ, veteran, or persons with disabilities. Additionally, a business must demonstrate a financial need, be current on all tax obligations, and maintain and possess necessary licenses required by the State of Ohio for the Minority Contractors Association. Eligible contracting business industries include general construction, road construction/concrete, HVAC, electrical, plumbing and engineering.
Businesses approved to participate in the program will have access to capital for project-specific purchase of materials and labor costs. They will also have access to an affordable performance bond program which has historically been a difficult barrier for small and minority-owned businesses. Capital will be provided as short-term loans with 0% interest rates. Businesses participating in the program will be given recommendations for training and certification programs.
Questions? Contact Kyle Julien ([email protected] 330-762-4776)
Sheena Fain, Contract Compliance and Supplier Diversity Officer for the City of Akron presented on How to Conduct with the City of Akron on September 16 during CAA's meeting.