Disaster Preparedness Finance

Applications open Monday for City of Miami’s COVID-19 small business loan program

The City of Miami is launching two new small business assistance programs to provide relief to City businesses affected by the COVID-19 economic downturn: the Business Continuity Micro-enterprise Assistance Program and the Small Business Emergency Loan Assistance Program. The application period for both programs begins Monday, May 4th and is open only to small businesses located within the City of Miami.

“Small businesses are the lifeblood of our community,” said Miami Mayor Francis Suarez. “We are doing everything in our power to help them recover from these difficult times. Together we will come out stronger than ever.”

The Business Continuity Micro-enterprise Assistance Program will provide grants to qualified, for-profit businesses located in the City of Miami with five or fewer employees including the business owner, that are considered non-essential (Miami-Dade County Emergency Order 7-20) and were ordered to close under the City’s shelter in place order. Eligible businesses can receive up to $10,000 to pay for up to three months of allowable business expenses including, but not limited to, the salaries of current employees, rent, and utility payments. Other requirements include that the owner of the micro-enterprise business must be 80% of area median income (AMI) or below adjusted for household size, as defined by the US Department of Housing & Urban Development (HUD). Businesses that received Coronavirus Aid, Relief, and Economic Security (CARES) Act funding through the Small Business Administration will not be eligible for this program.

The Small Business Emergency Loan Assistance Program (SBELP) will provide forgivable loans between $10,000 and $20,000, to qualified, for-profit businesses in the City to help cover allowable business expenses including, but not limited to, rent, salaries of current employees, and utilities. The SBELP is open to City businesses with a minimum of one owner and one employee and a maximum of 20 employees. For every loan, one full-time permanent job for a low-moderate income person (80% AMI or below) must be retained for at least 12 months for the loan to be forgiven. SBELP funding can be used to complement funding received via the federal government’s CARES Act’s Paycheck Protection Program (PPP), but not for the same expenses.

Businesses that apply will be required to submit documentation that supports their compliance with the respective program’s guidelines. The assistance will be awarded on a first-come, first-ready basis, until funding is exhausted.

How to Apply

Following are general guidelines on which businesses may apply for the Micro-Enterprise Assistance Program and SBELP and how to submit an application:

  • Applicant businesses must be located within City of Miami, no exceptions. Businesses can confirm if they are within City of Miami limits here.
  • Application period begins Monday, May 4th at 12:00 noon and ends Friday, May 8th at 5:00 p.m.; early applications will not be accepted
  • Online applications for the Micro-Enterprise Assistance Program are available by clicking here
  • Online applications for the Small Business Emergency Loan Assistance Program are available by clicking here
  • Disabled persons and those without internet access should call 305-416-2080 for assistance completing the application once the application period begins.

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