Conventional Loan

For Minority-Owned Businesses in 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 Miami, 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.

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:

Friday, September 18th, 2020 at 2:27pm
Students at our Truist/MBF Digital Marketing Series! 💻 📲 The workshop teaches small businesses how to digitize in time of COVID-19. For more information on MBF business workshops, please visit https://t.co/nxq2iPxEnX! https://t.co/rhGotdN47R
Monday, August 10th, 2020 at 12:41pm
MBF #SmallBizTips: Do you need to grow your digital marketing footprint, but don't know how? Apply for the Truist/MBF's Digital Marketing Series. This in-depth program will prepare you to use digital marketing to grow your business. Visit https://t.co/SprY35nmPv to apply. https://t.co/0T51AV7aTn
Friday, August 7th, 2020 at 3:00am
Congratulations to the 13th graduating and first virtual class of the MBF Small Business Training! 🎓 For more information on MBF business workshops, visit https://t.co/WziW7EGtTM! https://t.co/VbUyTqfm3O
Wednesday, July 29th, 2020 at 3:14pm
MBF #SmallBizTips: The RISE Miami-Dade Fund is a new loan program for Miami-Dade small businesses impacted by the pandemic. Visit https://t.co/KTsfOVzfqf to apply for the loan.
Monday, July 6th, 2020 at 7:20pm
Congratulations to MBF #LoanRecipient @GroovinBean1 for their feature in @MiamiHerald's article, "‘Black people drink coladas.’ How this restaurant brought coffee culture to Overtown." Read more at https://t.co/tQGYxwNsEo?.

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