Loan Programs

Providing Loans to Minority Businesses

The primary mission of MBF is to provide access to funds for minority entrepreneurs. The Miami Bayside Foundation is a CDFI that lends to minority and womenowned businesses that do not qualify for traditional financing and trains their owners on how to better run those businesses. Since 2011, MBF has awarded 275 loans for a total of $16.7 million to South Florida businesses, helping to create more than 500 jobs and trained over 1,228 business owners.

MBF provides loans of up to $250,000 at a competitive 6% interest rate for a term of up to 5 years (subject to lease terms). Loan funds can be used for working capital, equipment, and inventory.

Loan Programs

 Small Business Loan

For Minority-Owned Businesses

Minimum Criteria

Loans are available from $5,000 to $75,000. Loans up to $250,000 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 $250,000 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.

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