Conventional Loan

For Minority Businesses in the City of Miami

 

Minimum Criteria

Conventional loans are available from $10,000 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. Minority or women-owned;
  2. Domiciled in the City of Miami, as stated in the organization’s occupational license. (To verify that your company’s address is in the City of Miami, please click here);
  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.

If you are interested in applying for a loan, please fill in the form below to access the downloadable application. Please be aware of some important details:

  • In addition to the completed 12 page-form, the application requires additional documents, which can be found on the checklist on the first page of the application.
  • 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.
  • To submit your form in person, please visit MBF’s offices, located at 25 SE 2nd Avenue, Suite 240, Miami, FL 33131.
  • To submit your form online, please email it to info@miamibaysidefoundation.org.
  • Should you have any questions about the application process, please contact the loan department at (786) 703-5767 or email info@miamibaysidefoundation.org.

Here is what some of the loan recipients had to say about the effects of receiving a loan through the MBF:

“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.”

Eric Wooden

CEO and Founder, The COOL Miami

“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.”

Leticia Pollock

Co Founder and Co Owner, Panther Coffee

“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.”

Giselle Pinto

Owner, Churros+ d/b/a Sugar Yummy Mama

Application Form

To download the application, please fill out the following information:

Tuesday, May 21st, 2019 at 12:00am
MBF #SmallBizTips: Join @SBAgov on Wednesday, May 22, 2019, 10 a.m. to noon at a free workshop to help entrepreneurs secure federal contracts. Register here: https://t.co/7blUC405mo #mondaymotivation
Monday, May 20th, 2019 at 11:13pm
Join us and the Miami Gardens Chamber of Commerce for "Doing Business With M-DCPS"

Register:
https://t.co/wFklpFLlVj https://t.co/YajYy1X9Pf
Monday, May 20th, 2019 at 11:13pm
If you are a small/micro, minority/woman, and/or veteran business enterprise, we want to help you grow your business by participating in the Miami Dade County Public School's contracting and purchasing programs.

Register:
https://t.co/wFklpFLlVj
Saturday, May 18th, 2019 at 12:00am
MBF #SmallBizTips: The press release has long been an invaluable resource for businesses of all sizes. Here's how to put together a professional, impactful press release for your small business. https://t.co/aCrukpiuaR
Friday, May 17th, 2019 at 3:56am
Congratulations to @getcredithealth for partnering with @DriveItAway to provide free credit coaching to @Uber and @lyft drivers in order to make the “path to ownership” a little less arduous.

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