Loan Programs

Providing Loans to Minority Businesses

The primary mission of MBF is to provide access to funds for minority entrepreneurs. Since 2011, MBF has extended more than $15 million in loans to minority-owned businesses that have helped create more than 500 jobs. MBF continues its commitment to providing access to funds for minority entrepreneurs.

Loan Programs

 Small Business Loan

For Minority-Owned Businesses

Minimum Criteria

Loans are available from $5,000 to $75,000. Loans up to $150,000 are available under special circumstances.

To be considered for an MBF loan, your business must be:

  1. At least 51% minority owned as defined by Florida Statute*
  2. Domiciled in Miami-Dade, Broward, or Monroe Counties, as stated in the organization’s occupational license;
  3. Owned by United States Citizens or Lawful Permanent Residents;
  4. For-profit corporation. No sole proprietorships;
  5. Must demonstrate that the loan will aid in the creation of new jobs; and
  6. Must use funds for working capital, cash flow, inventory, and/or equipment.

Please note, if a start-up (under one year), owners must put up a 20% cash match.

*Minority includes African Americans, Hispanic, Asian, Native Americans, and women. https://www.flsenate.gov/Laws/Statutes/2012/288.703 

 Black Business Loan Program

For Black Businesses

Minimum Criteria

Under BBLP, loans are available from $5,000 to $75,000. Loans up to $150,000 are available under special circumstances.

To be considered for a BBLP loan, your business must be:

  1. 51% black-owned;
  2. Domiciled in Miami-Dade, Broward, or Monroe Counties, as stated in the organization’s occupational license;
  3. Owned by United States Citizens or Lawful Permanent Residents;
  4. For-profit corporation. No sole proprietorships;
  5. Must demonstrate that the loan will aid in the creation of new jobs; and
  6. Must use funds for working capital, cash flow, inventory, and/or equipment.

Please note, if a start-up (under one year), owners must put up a 20% cash match.

Please ensure that your business meets ALL OF THESE REQUIREMENTS

before submitting an application

How to Apply

  • Please read the minimum criteria above carefully. (If any of these criteria do not apply to your business, your application will be deemed ineligible.)
  • Please allow yourself at least an hour to complete the loan application accurately and in its entirety.
  • In addition to the application, you will also be required to provide additional documents (please refer to the “Required Documents” section below)
  • Be sure to carefully review all your answers before submitting. MBF reserves the right to deny the loan application if any answers are untrue or inaccurate.
  • Should you have any questions about the application process, please contact a member of our loan team at (786) 703-5767 or via email at info@miamibaysidefoundation.org.

Required Documents

Please have the following documents ready when applying for a loan:

  • Business Plan including corporate history and comprehensive marketing plan.
  • Resume of all principals.
  • Three (3) years Profit and Loss Projections, monthly for one (1) year, and annually for the next two (2) years. Footnote assumptions.
  • Detailed Use of Funds, including a breakdown of any line items over $5,000.
  • Business Financial Statements for the last three (3) fiscal years and year-to-date.*
  • Corporate Tax Returns (federal income tax) for the last three (3) years.*
  • Personal Income Tax Return filed for the last three (3) years.*
  • Six (6) months of supporting bank statements.*
  • Copy of Lease or Letter of Intent to Lease.
  • Copy of Business Documents: Partnership Agreements, Articles of Incorporation, By-Laws, Certificate of Good Standing, etc.
  • Copy of Local Business Tax Receipt.
  • Proof of General Liability Insurance.
  • Documentation of all Outstanding Debt Including Equipment Leases.

* Not required if you are applying as a start-up business.

Ready to Apply?

Applications available in English and Spanish.
Solicitudes disponibles en inglés y español.

Have questions?

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