Miami-Dade offering small businesses ‘forgivable’ loans up to $25,000

$5 million available for businesses affected by COVID-19

Small business owners can get up to $25,000 from Miami-Dade County

MIAMI, Fla. – Miami Dade’s Board of County Commissioners 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.

Do I have to pay it back?

The “forgivable” feature of the loans requires that the small business borrower retain jobs that are held by those of low or moderate income, 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. (See the allowable assistance chart.)

What exactly is a forgivable loan?

Repayment of loan moneys awarded will be forgiven if the recipient has met all identified project goals, milestones and conditions identified in the written agreement between the department and the recipient.

How do I know if I’m eligible?

To be eligible, the small business must meet certain criteria such as: having no more than 25 employees, provide evidence of the business being impacted by COVID-19, and a business cannot previously have received assistance from other special COVID-19 programs, such as the federal Paycheck Protection Program.

Who do I contact to see if I can get this loan for my small business?

Partners for Self-Employment

3000 Biscayne Blvd # 215, Miami, FL 33137


Phone: 305-438-1407


Tools for Change

Address: 5120 NW 24th Avenue, Miami Fl 33142


Phone: (305) 200-5568


The SBAFLP utilizes 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 County’s SBAFLP will be administered by the County’s Department of Public Housing and Community Development, through two local federally chartered Community Development Financial Institutions (CDFIs). The CDFIs specialize in micro and small business lending in low- and moderate-income neighborhoods. The two nonprofit organizations are Partners for Self-Employment and Tools for Change.

About the Author:

Michelle F. Solomon is the podcast producer/reporter/host of Local 10's original, true-crime podcast The Florida Files and a digital journalist for Local