May 12, 2022

How to fund your small business in Miami: Our guide

Axis Helps has Miami’s guide on how to find small business funding and loans.
Business owners, consultants, funders, attending an event in Miami.

Do you have plans to grow your business? Do you need some cash to get through a rough period? Are you stuck with debt after launching a business on your personal credit card? 

These are all good reasons to consider applying for a small business loan. We understand loans can be overwhelming, confusing, and time consuming! And that’s why we built a guide to small business funding in Miami.

Small business lenders are organizations or institutions that provide funds (sometimes referred to as capital) so that a business can start, grow, or maintain their operations. Our guide helps Miami’s small business owners consider some of the important factors before making a decision on what type of lender to choose.

  • The factors that matter: We help you figure out the difference between a CDFI - short for Community Development Financial Institution - and microloans, credit unions and traditional banks, so you can find the best fit for your business needs.
  • The benefits: Each lender has its own perks. Microloans are great if you’ve never had a loan before, especially for small amounts of cash that can establish business credit. Traditional banks offer a variety of loans but typically start at larger amounts. And CDFIs offer a range of additional services to their small business loan recipients, like financial education and advice. 
  • The requirements: Yes, some lenders want you to provide a business plan and proof you’ve been in business for a certain period of time, but not all. Regardless, you’ll know what documents you will need - like financial statements and tax returns, for example - to provide ahead of time.
  • Bonus tips: Our guide also provides a list of handy insights you’ll need to guide your decision.  

All of this is available at axishelps.org/lending

Axis Helps also offers information on small business grants in Miami, which - unlike loans - you don’t have to be paid back. A full list of available grants can be found here

Running a business can be expensive. But there is no need to do it alone or go into debts that can be problematic, such as high-interest credit cards or pay-day-like loans. We hope you find this guide useful - and if you do, or have ideas to improve it, let us know!

Photo by Isabella Bru