calling all Beauty, Barber, and Cosmetology PROS:

RISE Small Business Loans Available

What is RISE?

The RISE Miami-Dade Fund is a small business loan fund created exclusively to help small businesses in Miami-Dade County that were impacted by COVID-19.

Who can apply?

Small business owners living and operating their business in Miami-Dade County. Scroll down for full eligibility details.

Is the application process difficult?

The application process is not difficult and help is provided for those who desire it. View the webinar below exclusively for beauty pros who own hair or nail salons, barbershops or other cosmetology businesses to learn more.

RISE Loan Benefits & Details:

Low, fixed interest rate of 3.25%.
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A grace period is provided so the first payment is not due until 3 months after closing. No interest is accrued during the grace period. 
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The borrower has three years to repay the loan and there is no prepayment penalty.
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Loans can be used for many business-related expenses including:

  • employee wages/salaries
  • product inventory
  • utilities
  • commercial lease, mortgage or rent payments
  • business expenses
  • other expenses incurred due to new county safety provisions
Apply here
Watch a RISE Fund WEBINAR TO Learn More
  • LEARN how RISE Miami-Dade can help you access an up to $30,000 low-interest loan, plus provide other business assistance.
  • HEAR from real Miami beauty business owners who've already received support from RISE and loan officers about how you apply ASAP.
Webinar in English

Webinar en español

How much can you borrow?

Loans are available for a maximum of $30,000.

The final loan amount will be based on your current average monthly rent. This may be from a commercial lease or a residential rental or mortgaged property if your business operates primarily from home.

Use the RISE loan calculator to receive an estimate of the loan amount you may apply for.

REQUIRED DOCUMENTS
  • Valid ID
  • Executed lease (commercial or residential) or mortgage
  • Personal federal tax returns for most recent year
  • Business federal tax returns for most recent year
  • Year to date business bank statements
  • Profit & Loss statement for current YTD
  • Business tax receipt (formerly called occupational license)

Qualification Requirements:

BUSINESS MUST:
  • Be for-profit and headquartered in Miami-Dade County
  • Be in operation for at least two years
  • Have gross sales of less than $2 million
  • Have 25 or fewer employees and/or independent contractors
Owners MUST:
  • Live in Miami-Dade County - if there are multiple owners, at least 50% must have their primary residence in Miami-Dade County
  • Have a Credit Score greater than 575
  • Have 20% or more ownership/stake in the business
  • Have not had any bankruptcies or foreclosures in the past three years

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