Minority or Women-Owned Businesses

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BBIF Small Business Loans

BBIF Florida
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

Verizon Small Business Recovery Fund

Verizon and The Local Initiatives Support Corporation
U.S. Citizens and Permanent Residents
  • One-time grants of up to $10,000
  • Funds can be used for rent and utilities, meeting payroll, paying outstanding debt to vendors, or other immediate operational costs

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

Revolving Loan Fund Program (RLF)

South Florida Regional Planning Council (SFRPC)
Miami-Dade County
U.S. Citizens and Permanent Residents
  • Loans between $25,000 and $500,000
  • Offer a holistic approach to approving loans
  • Fixed rate of 7% interest
  • Monthly payments
  • 5 to 10 year loan terms with extensions to 15 years for real estate
  • Minimum of 500 credit score but are flexible
  • Non-profits are eligible to borrow

The Red Backpack Fund

The Spanx by Sara Blakely Foundation and GlobalGiving
U.S. Citizens and Permanent Residents
  • One-time grants of $5,000
  • A free annual All-Access Pass to MasterClass
  • A red backpack - the official icon of The Spanx by Sara Blakely Foundation

The Doonie Fund

Digitalundivided
U.S. Citizens and Permanent Residents
  • $100 micro-grants