Treasury Adds To Loan Fund

by | May 16, 2018 | Press Release

Media Contact:
Alison Grewe
MBF
(305) 379-7070 Ext. 205

Miami, FL (April 12, 2018) – The US Treasury Department’s Community Development Financial Institutions Fund has awarded $630,000 to the Miami Bayside Foundation to spur economic growth through its loans to minority-owned businesses in the City of Miami. Using its award programs, the federal fund says, it supports financial institutions recognized for their expertise in providing service and support to low-income communities, as organizations leverage the fund’s grants to draw in new or increased sources of private funding. The Miami Bayside Foundation says it has lent more than $2.8 million to minority-owned businesses in the city, creating more than 350 jobs and providing technical assistance to more than 250 business owners.

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Miami Bayside Foundation (MBF) is a nonprofit organization designed to advance economic development in Miami through the support of minority businesses and education.

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