Minority or Women-Owned Businesses

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BBIF Small Business Loans

BBIF Florida
U.S. Citizens and Permanent Residents
  • A complete profile of the business is taken under consideration during the evaluation process to find flexible and fair loan terms  
  • Offering business management training

BBIF Loan:

  • $5,000 to $250,000 
  • 1 to 5 year term
  • 1% to 8% interest
  • Payment is required 3 months after loan closing

Payment Protection Program Loan:

  • 1 year loan term
  • 1% interest
  • Maturity of 2 years
  • 6 month deferment period
  • No collateral is necessary

OLCDC Small Business Loans

Opa-locka Community Development Corporation Business Fund
Miami-Dade County
U.S. Citizens and Permanent Residents
  • $5,000 to $100,000
  • Average interest rate is 8%
  • Average loan size is around $45,000
  • Terms of 5 years or less
  • Looking to approve and commit funds to new businesses
  • Will, hopefully, be deferring all payment until people can get back to work
  • Funds can be allocated for working capital but preferred use of loans is for expansion and revenue producing business functions
  • Offering mentoring & counseling for small businesses

MBF Small Business Loans

Miami Bayside Foundation
Miami-Dade County
U.S. Citizens and Permanent Residents
  • Conventional Loan: $10,000 to $75,000 and up to $150,000 are available under special circumstances
  • Microloan: $2,500 to $10,000
  • Black Business Loan: $2,500 to $75,000 and up to $150,000 are available under special circumstances
  • 6% interest  
  • 2 to 5 years
  • Bi-monthly payments for microloans; monthly payments for all others
  • Loans can be used for working capital, cash flow, inventory, and/or equipment
  • Both conventional and black business loans must demonstrate that the loan will aid in the creation of new jobs
  • Offering mentoring, small business training, and in-depth seminars

ULBC Small Business Loans

Urban League of Broward County
Broward County
U.S. Citizens and Permanent Residents
  • $25,000 to $5,000,000 (Average loan size is $150,000)
  • 4% to 9% interest
  • Loan terms vary depending on the project: generally they are 7 year terms unless real estate acquisition is involved
  • Granting deferments of 3 months of principal and/or interest
  • Loans will be examined at the end of the deferment period to determine if there is an extension
  • No credit score minimum
  • Loans may be used for equipment, working capital, real estate acquisitions, inventory, and leasehold improvements
  • Currently not offering comprehensive guidance, however, can provide advice to businesses on a case by case basis through counseling and technical assistance offering
  • Currently acting as a resource clearinghouse and making qualified referral to other partners in the business ecosystem
  • Offering training for business startups through Free Business Bootcamp Series

Free Business Services for Underrepresented Owners

Comcast Business
U.S. Citizens and Permanent Residents

Selected businesses could receive one or more of the following business services:

  • Consulting: Advertising and marketing consultations with local Effectv marketing, research, and creative teams to gain insights on how to grow your business
  • Media: A linear TV media schedule, over a 90-day period
  • Creative production: Turnkey production of a 30-second TV commercial, plus a media strategy consultation and 90-day media placement schedule
  • Technology make over: Computer equipment and Internet, voice and cybersecurity services for 12 months

November 7, 2020

M-DCC Small Business Loans

Miami-Dade Chamber of Commerce
Miami-Dade County
U.S. Citizens and Permanent Residents
  • Tier 1: $5,000 to $10,000
  • Tier 2: $10,001 to $25,000
  • 4% interest
  • The applicant can chose between 12 – 60 months depending on the amount requested
  • Offering up to 90-day payment deferments due to COVID-19
  • No credit score requirements, loan is based upon business and personal financial analysis
  • Micro-loan funds can be used to purchase equipment, cover payroll, working capital or whatever your business needs
  • For businesses that create jobs, M-DCC offers a Micro-loan Forgiveness Program that will forgive up to $1,000 of the loan for every job created
  • Offering one-on-one technical assistance to businesses in Miami-Dade County

Fueled by Purpose™ Micro Grant

My Founder Story
U.S. Citizens and Permanent Residents
  • One-time micro grant of $500

Black Business Loan Program

Miami Bayside Foundation
U.S. Citizens and Permanent Residents
  • $2,500 to $75,000 loans available for black-owned businesses

Startup Grants for Black Founders & Entrepreneurs

SoGal Foundation
U.S. Citizens and Permanent Residents
  • $10K and $5K cash grants to Black women or nonbinary entrepreneurs.
  • Awardees will receive tactical help navigating the fundraising environment.

IFundWomen of Color Grant

IFundWomen & Caress
U.S. Citizens and Permanent Residents
  • One-time grant of $2,500