â€śThe success of minority-owned businesses is essential to our economic recovery, and Iâ€™m counting on David to maximize their opportunities,” said U.S. Commerce Secretary Gary Locke, who announced Hinsonâ€™s appointment.
The MBDA provides one-on-one workshops and business consulting services for minority businesses to help educate them about federal opportunities, including those related to the American Recovery and Reinvestment Act.
â€śIâ€™m honored to accept this position and am committed to carrying out Secretary Lockeâ€™s priority of working with minority entrepreneurs who wish to grow their businesses and increase their capacity,â€ť Hinson said. â€śThis work better positions these companies to create jobs, improve local economies and expand operations into national and global markets.â€ť
The MBDA recently held a two-day summit to gather input on the effectiveness of minority business enterprise programs and create a blueprint for government and private sector programs that will help minority businesses survive and thrive for the next 20 years.
In 2008, the MBDA negotiated more than $2 billion in contracts and capital for minority businesses. Over the past 40 years, MBDA has served more than 625,000 minority businesses and assisted in securing more than $25 billion in loans and bonding.
Wealth Management Network is a multimillion dollar independent, financial advisory firm. Prior to launching Wealth Management Network, Hinson managed a 10-state sales region as Director of Advisory Services for Envestnet Asset Management, a $70 billion financial advisory firm.
Hinson has provided on-air financial commentary the Black Enterprise Business Report, CNN, and CBS News and has written personal wealth analyses for Black Enterprise magazine.