Small Business Loans Through Community Lenders

For businesses in:

South Florida

Provided by:

Various Community Lenders

Ideal for:

Small Business Loan Seekers

Nonprofit and community lenders offer a variety of accessible loans and small business growth assistance.

Coming Soon

Benefits

  • Application process may be simpler than other lenders.
  • Organization often offers additional support for completing the application.
  • Credit history and score requirements may be relaxed.
  • Interest rates may be lower and payment terms may be flexible.
  • Some organizations are tailored to support minority-owned small businesses.
  • Organization often provides additional coaching and/or financial training programs.
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Eligibility

  • Varies by lender.
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Application

Actively Lending

Below is a list of nonprofit, community-based organizations offering loans to small businesses that have been unable to obtain financing or stimulus relief funds from traditional banks.

Each offers different products and have different requirements. Search through the list to find the one that might fit your needs.

Accion

Loan range: Varies

Interest: Varies

Affiliation: U.S. Small Business Administration and Community Development Financial Institution (U.S. Treasury) Certified Lender

Requirements: Credit score 575 or higher; no bankruptcy within last 12 months; less than $3,000 in past due debt.

See full list of requirements, benefits and contact information


BBIF

Loan range: $5,000 - $250,000

Interest: 1% to 8%

Affiliation: U.S. Small Business Administration and Community Development Financial Institution (U.S. Treasury) Certified Lender

Requirements: Credit score minimum is flexible; business must be profitable and registered in Florida; owner must be a US citizen or a permanent legal resident.

See full list of requirements, benefits and contact information

Miami-Dade Chamber of Commerce

Loan range: $5,000 - $25,000

Interest: 4%

Affiliation: N/A

Requirements: Business must be licensed in Miami-Dade County for at least 365 days; business and personal financials records for at least a one-year period.

See full list of requirements, benefits and contact information

Miami Bayside Foundation

Loan range: $2,500 - $150,000

Interest: 6%

Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender

Requirements: Business must be located in the City of Miami; owner must be a US Citizen or permanent legal resident; for conventional and micro-loans, business must be owned by a minority.

See full list of requirements, benefits and contact information

Opa-locka Community Development Corporation (OLCDC) Business Fund

Loan range: $5,000 - $100,000

Interest: 8%

Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender

Requirements: Business owner must live and work in Opa-Locka or Liberty City; financial institutions, insurance companies and liquor stores not eligible.

See full list of requirements, benefits and contact information

OUR Microlending

Loan range: $3,000 - $50,000

Interest: 18% with repayment between 12 and 24 months

Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender

Requirements: No credit score needed; business must be in operation for last six months; located within Palm Beach, Broward or Miami Dade counties; collateral, such as fully paid vehicle, machinery, or business equipment.

See full list of requirements, benefits and contact information

Urban League of Broward

Loan range: $25,000 - $5,000,000

Interest: 4% to 9%

Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender

Requirements: No credit score minimum; each applicant is evaluated based on their individual circumstances.

See full list of requirements, benefits and contact information

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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