Loan Programs
Providing Loans to Minority Businesses in Miami
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The primary mission of MBF is to provide access to funds for minority entrepreneurs. Since 2011, MBF has awarded 80 loans totaling more than $3.5 million to City of Miami minority-owned businesses, helping to create more than 350 jobs. MBF continues its commitment to providing access to funds for minority entrepreneurs.
Loan Programs
Conventional Loan
For Minority-Owned Businesses in Miami
Minimum Criteria
Conventional 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:
- Minority or women-owned;
- Domiciled in Miami, as stated in the organization’s occupational license;
- Owned by United States Citizens or Lawful Permanent Residents;
- For-profit corporation. No sole proprietorships;
- Must demonstrate that the loan will aid in the creation of new jobs; and
- 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.
Black Business Loan Program
For Black Businesses in Miami-Dade County
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:
- 51% black-owned;
- Domiciled in Miami-Dade County, as stated in the organization’s occupational license;
- Owned by United States Citizens or Lawful
- Permanent Residents;
- For-profit corporation. No sole proprietorships;
- Must demonstrate that the loan will aid in the creation of new jobs; and
- 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.
For more information, please contact (305) 379-7070 or email info@miamibaysidefoundation.org.
What Our Loan Recipients Had to Say
Eric Wooden
CEO and Founder, The COOL Miami
“I just want to thank the Miami Bayside Foundation for giving me the opportunity to reach my dreams of opening up my own retail/print store. It led me in the right direction by teaching me a lot so that I can take the proper steps to running a business.”
Dannie A. Connor
Cybertech Life Inc.
“The MBF BBLP is a savior to small minority businesses that do not have access to financing from larger financial institutions. Before graduating from this program and securing a loan, I was at the mercy of the “loan sharks.” The outlook is promising, as I see a bright future in 2020, thanks to this amazing program.”
Leticia Pollock
Co Founder and Co Owner, Panther Coffee
“When we were first starting up in 2009, we needed a loan to open our first location. We were declined by all the banks we approached, and Miami Bayside Foundation came to the rescue! Since then, we’ve worked closely together, and our admiration and appreciation has only grown.”
Dr. Anita Petteway
Anita L. Petteway, M.D. PA
“MBF’s Black Business Loan Program helped me to invest in myself so my dreams could continue to be realized.”
Giselle Pinto
Owner, Churros+ d/b/a Sugar Yummy Mama
“Nothing gets easier when you get a loan. On the contrary, it is a major responsibility. However, the MBF helps you understand the importance of prioritizing the key elements of your company. Understanding the priorities what allowed me to strategize differently. It was when I went through the process of this loan that I realized it. Hopefully, my plan is on the right path to take Sugar Yummy Mama to the next level.”
Stephannie Cetoute
Amer-Plus Janitorial Maintenance LLC
“The MBF Loan has significantly helped my business to implement vital systems for the strong infrastructure we need to grow.”
Make a Donation
By contributing to MBF you have an opportunity to impact job creation, encourage economic development and improve the future of Miami.
