Loan Programs

Providing Loans to Minority Businesses in the City of Miami

Loans

The primary mission of MBF is to provide access to funds for minority entrepreneurs. Since 2011, MBF has awarded 71 loans totaling more than $3.1 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.

Timeline

2011: MBF created a loan program to provide loans of $10,000 to $50,000 to City of Miami minority-owned businesses.

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.

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.

2016: prompted by the adverse effects of the Zika virus on businesses in certain areas of the City of Miami, MBF created the ZEAL (Zika Emergency Assistance Loan) program to ensure retention of jobs.

2017: MBF raised its maximum loan to $75,000, or $150,000 with Enterprise Florida’s participation. Panther Coffee Roasters LLC was the first beneficiary of this change. 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.

2018: Miami Bayside Foundation partnered with the Department of Economic Opportunity to administer the Black Business Loan Program. An important economic development tool for small black-owned businesses in Florida, the program provides loans, loan guarantees, or investments through Loan Administrators, like MBF, to black business enterprises that cannot otherwise obtain capital through conventional lending institutions but who could otherwise compete successfully in the private sector. The award, totaling close to $750,000 potentially opens new doors of economic opportunity for African American business owners whether needed for growth or start-up business funding. In this capacity, MBF will be providing alternative lending opportunities and technical assistance to black entrepreneurs throughout Miami-Dade County.

Loan Programs

Black Business Loan Program

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Conventional Loan

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Microloan

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Previous Loan Recipients

GUADALUPE DOLLAR STORE, INC.
HAYNES SECURITY SERVICES, INC.
IMR CONTRACTING CORP
     D/B/A JENNINGS ENGINEERING & CONSTRUCTION
IMR DEVELOPMENT CORP
JUNTOS TRADITIONALLY INC
LATITUDE TRADING CORP.
LITTLE EXECUTIVES DAYCARE LLC
LORIMA FOOD CORP
LUNCHOLOGY, LLC
MED AESTHETICS MIAMI LLC
MEDICAL EQUIPMENT SOLUTIONS, CORP.
MIAMI SMOKERS LLC
JOHN A. NELSON, DDS, PA
     D/B/A MIDTOWN DENTAL

MOONLIGHTER LOUNGE, CORP.
MONKEY SHUTTLE
NMR DESIGN GROUP, LLC
N.O.A. CATERING, INC.
NICE TRANSPORTATION SERVICE, INC.

ORGANICS OVERSEAS INC
PANTHER COFFEE LLC
PANTHER COFFEE ROASTERS LLC
R&A SHOESHINE, INC.
S&S FIVE STAR FOODS INC
     D/B/A MUNDO CAFE
SOUND THEORY LIVE AT THE STAGE, INC.
     D/B/A THE STAGE
SOUND OF FUN LLC
SPINEX MEDICAL INC
SUPER KIDS CHRISTIAN DAY CARE, INC.
THE COOL MIAMI LLC
TRAVELUXOR, INC
TWO COATS PAINTING LLC
VELOCITYLAB PRODUCTIONS, INC.
     D/B/A/ CREAM PARLOR

VERY TASTY LLC
VIKING DEFENSE INC.
ZTHEA LLC

For more information, please contact (305)379-7070 or email info@miamibaysidefoundation.org 

Wednesday, August 15th, 2018 at 12:00am
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Tuesday, August 14th, 2018 at 12:00am
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Friday, August 10th, 2018 at 12:00am
Congratulations to @vista_miami on their successful grand opening and officially becoming an MBF #loanrecipient! https://t.co/uLQRNzLNmK

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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.