Loan ProgramsProviding Loans to Minority Businesses in the City of Miami
The primary mission of MBF is to provide easier access to funds for minority entrepreneurs.
In 2011, MBF created a loan program to provide loans of $10,000 to $50,000 to City of Miami minority-owned businesses. In 2013, seeing the need for smaller loans with a simpler underwriting process, it launched a microloan program with loans from $2,500 to $10,000. In 2014, MBF partnered with Enterprise Florida, Inc. (EFI) and through their State Small Business Initiative Loan Participation Program, MBF has been able to provide loans of up to $100,000. All three of these loan programs aim to stimulate economic development in the City of Miami by helping minority-owned businesses grow and create jobs.
Since 2011, MBF has awarded 46 loans totaling more than $1.7 million to City of Miami minority-owned businesses, helping to create more than 250 jobs. MBF continues its commitment to providing access to funds for minority entrepreneurs.
Previous Loan Recipients
AVE D JAZZ, CORP.
BEEFREE MEDIA, LLC
BUNNIE CAKES, LLC
CHURROS+ d/b/a Sugar Yummy Mama
CREATIVE NAILS BY TOMMY • DOORS, INC.
DTC International Holdings d/b/a H.I.M-istry
FAMA PUBLISHING, INC.
GET CREDIT HEALTHY
GUADALUPE DOLLAR STORE
HAYNES SECURITY SERVICES, INC.
IMR DEVELOPMENT CORP.
IMR CONTRACTING CORP.
LATITUDE TRADING CORP.
LITTLE EXECUTIVES DAYCARE
MED AESTHETICS MIAMI
MEDICAL EQUIPMENT SOLUTIONS CORP.
R&A SHOESHINE, INC.
S&S 5 STAR FOODS d/b/a The Pastry Shop by Magic City Chefs
SOUND THEORY LIVE d/b/a The Stage
Last night, MBF's #SmallBusinessTraining students presented business plans to bank lenders & investors 📊 Thanks to panel for participating in this educational event & providing sage advice. Additionally, thanks again to our sponsors @cityofmiami, @LHCCmiami & @magiccitydist. https://t.co/6MthyF6t8R
Are you a small business owner? There are two important tax changes that WILL affect your business. 1) Corporate tax rates are now 21% and 2) Pass through entities get a 20% deduction. Read more on @scoremiami's blog.
Congrats to the 10 amazing high school participants that competed for prizes and bragging rights at the Knowledge of Careers 2nd Annual Social Impact Pitch Night @ #ThursdayGathering. MBF enjoyed judging their creative #socialimpact pitches.
@KOCnonprofit @KnowledgeofCareers https://t.co/MtBX7g6Tfd
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By contributing to MBF you have an opportunity to impact job creation, encourage economic development and improve the future of the City of Miami.