The Miami Foundation’s core mission is to build a stronger, more equitable and resilient Miami. Through Miami Open for Business, we aim to support historically underserved small and nonprofits in Miami-Dade County to build resilience and generational wealth.
Funded with a $20 million grant from Wells Fargo announced earlier this year, the program aims to empower nonprofits and small businesses through the purchase and ownership of critical business assets, such as technology, equipment, machinery, inventory, and property. Ultimately, the program aims to ensure that historically disadvantaged and underinvested entrepreneurs have a fair chance to build prosperity in the Miami they helped create.
Over the next two years, The Miami Foundation and community-based lending partner, Partners for Self Employment, will distribute a variety of grants and loans. Review eligibility and application information as well as a list of frequently asked questions below.
To design the program, the Foundation engaged a Stakeholder Advisory Group, a leadership circle of local visionaries with deep expertise about the small business ecosystem, alongside dozens of community stakeholders, in order to gather input and strategic thinking on how to make the greatest impact through Miami Open for Business.
Our first round of funding is open now and we will offer two funding cycles each year for the next two years. Beginning in 2023, the Miami Open for Business program will have specific technical assistance (TA) resources available and in place to help you prepare your application and grow your business.
Grants between $100-$20K
for nonprofits and small businesses to purchase hardware, software, machinery, and equipment.
First round deadline is 11/7/2022. Award notifications will be sent out by the end of the year.
Low-interest, patient financing from $5K-$100K to buy vehicles or inventory, renovate space, refinance predatory debt, succession financing, or co-op conversion.
Applications accepted on a rolling basis through 12/1/22. Award notifications will be sent out by the end of the year.
Down payment assistance up to $500,000 for shared commercial real estate in historically underinvested neighborhoods and corridors to root community businesses and non-profits.
First round deadline is 11/28/2022. Award notifications will be sent out by the end of the year.
Register to attend one of the four virtual information sessions about the microgrant and loan offerings (green & blue), or one of the two information sessions about CREO funding (purple). All informational sessions will be recorded and uploaded to our website for later access.