Conventional LoanFor Minority Businesses in the City of Miami
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:
- Minority or women-owned;
- 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);
- 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.
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 firstname.lastname@example.org.
- Should you have any questions about the application process, please contact the loan department at (786) 703-5767 or email email@example.com.
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.”
“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.”
“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.”
To download the application, please fill out the following information:
MBF #SmallBiztips: LAST DAY TO APPLY! Jump start your business with MBF's Small Business Training! Learn business essentials from experts in accounting, marketing, information technology, and more. Apply at https://t.co/PE0732D8Lk before the end of the day! #mondaymotivation https://t.co/rNlHHFCpwy
MBF #SmallBizTips: Register for MBF's upcoming "Developing Your Business Plan" workshop. The workshop will be held Thursday, September 19 from 9 AM to 11 AM at the Center for Social Change (2103 Coral Way, 2nd Floor, Miami, Florida 33172). Register at https://t.co/XoEyXSUG5N.
MBF #SmallBizTips: For small businesses, weathering an economic downturn could be particularly unnerving. But there are some steps entrepreneurs can take to prepare. Here are five tips for surviving a recession.
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