Small Business Assistance Forgivable Loan Program
Miami-Dade County Board of County Commissioners created a $5 million Small Business Assistance Forgivable Loan Program (SBAFLP) utilizing the United States Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) funds allocated through the Federal Coronavirus Aid Relief and Economic Security Act (CARES Act).
The loans will be up to $25,000, with 0% interest and no origination fees. The "forgivable" feature of the loans rests on the ability of the small business borrower to retain jobs that are held by those of low or moderate income, meaning those who earn less than 80% of the annual Area Median Income. In Miami-Dade County, the annual AMI for a single person is $51,200.
To be eligible, the small business must meet certain criteria such as: having no more than 25 employees, providing some evidence of being impacted by COVID-19, and not previously having received assistance from other special COVID-19 programs, such as the federal Paycheck Protection Program. Click
to learn more.
COVID-19 Business Impact Survey
The city's Economic Development Department is evaluating the financial impact caused by the COVID-19 pandemic on our local businesses. The Business Impact Survey will help capture the impact on key issues, such as business operations, financial performance, employees and supply chains.
Results from the survey will be used by the city to evaluate opportunities for assistance.
to assist the city in capturing information regarding how COVID-19 has directly affected your business. (
Example: Financial, level of capacity and/or operation)