Black-Owned Business Loan Program

For businesses in:

Miami-Dade

Provided by:

Miami Bayside Foundation

Ideal for:

Black-Owned Businesses

Lending opportunities and technical assistance to Black entrepreneurs throughout the state of Florida.

Coming Soon

Benefits

  • $2,500 to $75,000 loans available for black-owned businesses.
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Eligibility

To be considered for a BBLP loan, your business must be:

  • 51% black-owned;
  • Domiciled in Miami-Dade County, as stated in the organization’s occupational license;
  • 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.

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Application

  • To submit your form in person, visit MBF’s offices, located at 25 SE 2nd Avenue, Suite 240, Miami, FL 33131
  • To submit your form online, email it to info@miamibaysidefoundation.org

Should you have any questions about the application process, please contact Joann at (786) 703-5768 or email info@miamibaysidefoundation.org.

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Do you need help?

The organizations listed below are Axis Coalition Members and are ready to help you at no cost.

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Requirements

Forms enclosed to be filled out and signed by all owners and/or principals

  • Business Loan Application
  • Personal Financial Statement, filled out by anyone owning 20% or more
  • Statement of Personal History
  • Authorization for Services and Waiver of Liability
  • Plan for Compliance with Job Creation and Retention
  • Inventory of Fixtures and Equipment Owned
  • Form 4506-T
  • Borrower Authorization for Consumer Report

Forms requested for application process

  • Business Plan including corporate history and comprehensive marketing plan.
  • Resume of all principals.
  • Three (3) years Profit and Loss Projections, monthly for one (1) year, and annually for the
  • next two (2) years. Footnote assumptions.
  • Detailed Use of Funds, including a breakdown of any line items over $5,000.
  • Business Financial Statements for the last three (3) fiscal years and year-to-date
  • Corporate Tax Returns (federal income tax) for the last three (3) years.
  • Personal Income Tax Return filed for the last three (3) years.
  • Six (6) months of supporting bank statements.
  • Copy of Lease or Letter of Intent to Lease.
  • Copy of Business Documents: Partnership Agreements, Articles of Incorporation, By-Laws,
  • Certificate of Good Standing, etc.
  • Copy of Local Business Tax Receipt.
  • Proof of General Liability Insurance.
  • Documentation of all Outstanding Debt Including Equipment Leases.

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