Miami Dade’s Board of County Commissioners has authorized $5 million, available in its Small Business Assistance Forgivable Loan Program, on Tuesday. The loans will be up to $25,000 with no interest and no origination fees. 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 have received assistance from other special COVID-19 programs, such as the federal Paycheck Protection Program. Loans will be administered through two local federally-chartered Community Development Financial Institutions (CDFIs) with a history of successful partnership with the County: Partners for Self-Employment and Tools for Change.
Read the press release: https://www.miamidade.gov/releases/2020-05-19-phcd-smallbiz-loan.asp
