NEGRO BUSINESS IS ASSURED OF AID; Stans Announces Plan to Make Up to $500-Million Available by Next June NEGRO BUSINESS ASSURED OF AID
Sec Stans announces Nixon Adm plan to make up to $500-million available by next June to finance Negro business enterprises; plan, called Project Enterprise, is Adm's 1st major program to aid black capitalism; Stans says 18 corps have pledged minimum of $150,000 each to sponsor Minority Enterprise Small Business Investment Co (MESBIC), which in turn will finance minority group business projects; says $15-million is available now for Govt's share of funding MESBIC; funds are part of $300-million announced earlier for grants, loans or loan guarantees to aid minorities
