Low-Interest Loan for Small Businesses and Nonprofits in Miami-Dade County

Receive a loan between $5,000 - $100,000 to help your small business or nonprofit pay for a remodel/renovation, purchase vehicles or inventory, refinance predatory debt, or plan for business succession.

When to apply:

Applications are currently closed. The next round for this program will open in February 2023.

You should apply if you

Have a minority-owned small business or nonprofit in Miami-Dade County with less than $1M in revenue or annual budget.

Have been in operation for at least 2 years.

Are in good financial standing and can provide proof of proper business registration.

You DO NOT have to be a U.S. Citizen to apply.

How to get started

1

Join an information session to learn more about the application process (more details below).

2

If you own a nonprofit, click here to pre-qualify. Click here to apply.

3

If you own a small business, click here to pre-qualify. Once you pre-qualify, click here to set up an account and apply.

4

Once you set up an account, you will receive an email from openforbusiness@miamiofbloans.org with additional information.

Information you’ll need to provide

This information will vary depending on if you are applying for a nonprofit or a small business, but you can expect to provide:

  • A business budget and explanation how the loan will help reach your goals.
  • Financial statements, an operating budget, and cash flow projections.
  • A copy of your business or strategic plan.
  • Documentation to prove you are in good business standing.

Helpful tips

  • There is no minimum credit score to qualify, but priority will be given to organizations and businesses that provide a community benefit, offer quality jobs, and are located in historically underserved neighborhoods.
  • If you need help submitting your financial paperwork, visit the Resources page for templates. 
  • The maximum interest rate for these loans is 3%. Nonprofit organizations will not be charged interest.
  • There will be two application rounds each year for the next two years.

There are 3 upcoming information sessions about the Miami Open for Business microgrant and loan offerings. Register to attend one of the virtual sessions by clicking the links below:

About this program

Provided by: The Miami Foundation

If you have questions, you can speak with a program representative at:

Program Information: Miami Open for Business

Additional Information: Loan Flyer, FAQs, Resources

Additional Programs: Commercial Down Payment Assistance and Microgrants for Technology and Equipment

Register today!

If you want to learn a new skill or network with business owners and experts, check our our calendar. Updated regularly, this resource is packed with a variety of options for all types of business owners.

Small Business Calendar

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