Miami-Dade County is home to numerous institutions that provide financial assistance to companies in the community. While The Beacon Council does not offer any direct financing, our organization regularly coordinates loans and other financial products to assist a wide variety of companies. Whether your company is a small, locally owned enterprise or a larger company interested in tapping international markets, The Beacon Council can refer your organization to the institutions that can provide the financial assistance you need to grow your business.
PUBLIC/NON-PROFIT FINANCING SOURCES
The following organizations provide financial products for high-risk and newer businesses or businesses in designated areas.
BAC Funding Corp.
6600 NW 27 Avenue
Miami, Florida 33147
Tel: 305-693-3550
Fax: 305-693-7450
Edwin L. Miller, President
The Business Assistance Center
(BAC) provides fixed-asset and working capital financing to black-owned and operated businesses.
Enterprise Community Center
3050 Biscayne Blvd, suite 201
Miami, Florida 33137
Tel: 305-579-2730
Fax: 305-571-7777
Della Clark, President
A one-stop resource of Miami-Dade County Government for businesses needing information regarding financing sources and programs
Miami-Dade County Industrial Development Authority (IDA)
80 SW 8th St, Suite 2801
Miami, Florida 33130
Tel: 305-579-0070
Fax: 305-579-0225
James D. Wagner, Jr., Executive Director
Through the issuance of Tax Exempt Industrial Development Revenue Bonds, the Miami-Dade County Industrial Development Authority provides below-market interest rate financing for fixed asset projects. For qualified borrowers, loans ranging from $2 million to $10 million for terms up to 20 years can be made available at interest rates approximating 75% of the prevailing New York prime rate. Eligible projects can include manufacturing, assembly, printing and food processing, and others in which raw material is converted or combined with other raw material to produce a finished or semi-finished product. Eligible costs can include the purchase of land, construction of new buildings and purchase and installation of new equipment. The purchase and rehabilitation of an existing facility may also qualify. Since authorizing its first industrial development revenue bond issue, the authority has issued in excess of $814 million in bonds for local projects.
Enterprise Florida Capital Program 390 N. Orange Ave, Suite 1300
Orlando, Florida 32801
Tel: 407-316-4692
Fax: 407-316-4680
Louis E. Laubscher, Senior Director of Capital Development
The Enterprise Florida Capital Program develops equity and debt capital products to ensure that high-growth Florida businesses have access to appropriate capital to finance growth and create quality jobs. To eliminate gaps in Florida's financial marketplace, capital products are delivered via partnerships with Florida's existing economic development organizations. Debt capital programs include Enterprise Bonds, specialized loan programs and export finance assistance. Equity capital programs include early stage capital to fund business development, Cypress Equity Fund, a $35.5 million venture capital fund and venture network development, which supports venture capital.
Florida Business Development Corporation
6801 Lake Worth Rd, Suite 209
Lake Worth, Florida 33467
Tel: 561-433-0233
Fax: 561-433-8545
Emanuel Manos, President
The FBDC is the Certified Development Corporation (CDC) authorized by the SBA to provide 504 financing for real estate purposes. The FBDC provides fixed-asset financing (primarily for real estate acquisition) to qualified businesses in conjunction with participating banks.
Florida Atlantic University- Small Business Development Center
8500 SW 8th St, Suite 224
Miami, Florida 33144
Tel: 786-388-9040
Fax: 786-388-9060
Carlos Cardenas, Regional Director
The FAU SBDC Energy Office provides loans to encourage business owners to undertake projects that will reduce energy consumption and expense. Loans are made from a federal overcharge money fund from the Department of Energy given to Florida Energy Office. Loans are from $1,500 to $75,000.
Tools for Change
Black Economic Development Coalition, Inc.
5800 NW 7th Avenue, Suite 212
Miami, Florida 33127
Tel: 305-751-8934
Fax: 305-751-1619
Murkel Coppins, Executive Director
The Tools for Change program is a strategic plan to stimulate black economic development. Services include loan packaging and financing for real estate projects for black businesses or companies locating in Enterprise Zone areas, loan packaging and technical assistance for start-up and expanding black-owned businesses or companies locating in Enterprise Zone areas. Provides legal assistance to black-owned businesses in both start-up and expansion phases.
U.S. Small Business Administration
100 S. Biscayne Blvd, 7th Floor
Miami, Florida 33131
Tel: 305-536-5521
Fax: 305-536-5058
Francisco Marrero, District Director
The U.S. SBA guarantees bank loans for qualified small businesses. A full range of products is available, including loan guarantees for loans under $50,000 and revolving line of credit guarantees for exporters.
INTERNATIONAL FINANCING PROGRAMS
Export-Import Bank of U.S.
SE Regional Office
777 NW 72nd Ave., Suite 312
Miami, Florida 33126
Tel: 305-526-7436
Fax: 305-526-7435
Sharyn H. Koenig, Director
The Export-Import Bank of the United States is an independent U.S. Government agency that helps finance the overseas sale of U.S. goods and services. It provides working capital loan guarantees and credit insurance to qualified exporters.
MUNICIPAL LOANS
Some Miami-Dade County municipalities will provide low-interest financing for large-scale projects with high economic impact potential. For more information, contact The Beacon Council, or the economic development offices of municipal governments.
ACCION, USA
2828 Coral Way, Suite 200
Coral Gables, FL 33145
Tel: 305-549-3360
Fax: 548-3348
www.accionusa.org
Luz Gomez, Director
MICRO LOANS
Three not-for-profit organizations have funds for micro-enterprise lending program throughout Miami-Dade County. Loans ranging from $500 to $25,000 are available for start-up or small-scale business.
Partners for Self Employment/ Micro-Business U.S.A.
3000 Biscayne Blvd., Suite 215 A
Miami, Florida 33137
Tel: 305-438-1407
Fax: 305-438-1411
www.microbusinessusa.org
Maria Coto, Executive Director
Haitian Organization for Women
162 SW 1st Ave
Homestead, Florida 33030
Tel: 305-245-8158
Fax: 305-245-9062
Cuckita Bellande, President
PRIVATE FINANCING SOURCES
DEBT FINANCING
Miami-Dade County's commercial banks, thrift institutions, state licensed foreign bank agencies, and Edge Act banks provide a complete menu of loan products to meet the needs of most growing companies. In addition, Miami-Dade County offers a wide array of bank alternatives, such as factors, commercial finance, leasing, second mortgage companies and public-private programs that may finance newer or higher-risk businesses.
EQUITY FINANCING
Miami-Dade County offers several options for companies seeking equity financing. Venture capital funds finance companies with innovative products or services and high growth potential. Investments usually start at $500,000. Venture capitalists expect to earn 40 to 60 percent annualized returns and to sell out in three to five years. Small Business Investment Companies, or SBIC's, provide equity financing to emerging firms and have more flexible criteria than venture capitalists. Other equity options include initial public offerings, limited public offerings, and private placements. Investment bankers and stock brokerage firms usually underwrite these deals; legal or accounting firms serve as intermediaries.
South Atlantic Venture Fund
1395 Brickell Ave, Suite 900
Miami, Florida 33131
Tel: 305-250-4681
Fax: 305-250-4682
Jim Davidson, Director
The South Atlantic Venture Fund provides equity capital to privately owned, rapidly growing businesses in the Southeastern United States. Generally the capital ranges from $1 million to $4 million for expansion, acquisition and buyouts.
PUBLIC/ NON-PROFIT FINANCIAL ASSISTANCE
Department of Business Development Miami-Dade County 111 NW 1st Street, 19 Floor
Miami, Florida 33128
Tel: 305-375-3111
Fax: 305-375-3160
Marsha E. Jackman, Director
The Department of Business Development is the Miami-Dade County agency responsible for coordinating and implementing minority business programs. In order to provide Miami-Dade County’s certified firms with professional assistance in developing a sound and feasible financial statement or tax return, and/or business plan, the county has established the Accounting Services Program and the Business Plan Reimbursement Program.
Hialeah Dade Development, Inc. 501 Palm Avenue
Hialeah, Florida 33010
Tel: 305 884-1219
Fax: 305-884-1740
Mario J. Arus, Executive Director
HDDI is a private not-for-profit corporation funded by the City of Hialeah and Miami-Dade County Office of Community Economic Development. The agency provides loan packaging and marketing assistance free of charge to businesses located in Northwest Dade.
Tools for Change Black Economic Development Coalition, Inc. 5800 NW 7th Avenue, Suite 212
Miami, FL 33127
Tel: 305-751-8934
Fax: 305-751-1619
Murkel Coppins, Executive Director
Services include loan packaging and technical assistance for start-up and expanding black-owned businesses or companies locating in Enterprise Zone areas.
A number of Miami-Dade County organizations assist start-up or expanding businesses that are small, minority or women-owned. Services include assistance in preparing business and marketing plans, as well as assisting with developing financing, operational, marketing and sales programs.
SMALL BUSINESS ASSISTANCE
The Entrepreneurial Institute
Florida Memorial University
15800 NW 42nd Avenue
Miami Gardens FL. 33054
Tel: 305- 626-3155
Fax: 305-626-3127
E-mail:
pmann@fmuniv.edu
Dr. Philip H. Mann, Director
Funded by Miami-Dade County, this program provides small business training and technical assistance to minority business owners and operators as recommended in the Metro-Miami Action Plan Trust.
Service Corps of Retired Executives (SCORE)
100 S. Biscayne Blvd, 7th Floor
Miami, FL 33131
Tel: 305-536-5521
Fax: 305-573-9393
www.scoremiami.com
Marc Rosenthal, Chairman
SCORE offers one-on-one counseling and workshops on start-ups, marketing, financial management, and personnel to all types of enterprises.
U.S. Small Business Administration
100 S. Biscayne Blvd 7th Floor
Miami, Florida 33131
Tel: 305-536-5521 x 137
Fax: 305-536-5058
Web Site:
www.sba.gov/fl/south
Ilene Rubio, Marketing Manager, Women Business Owners
SBA helps women with access to capital, government contracting, and provides financing through its loan guarantee program.
WOMEN-OWNED BUSINESS ASSISTANCE
National Association of Women Business Owners (NAWBO)
Aegis Financial Strategies, Inc.
1825 Ponce de Leon, Suite 299
Coral Gables, Florida 33134
Tel: 305-444-4437
Lourdes San Martin, President
NAWBO represents the interest of women business owners in all types of businesses Chapter meetings include seminars and workshops designed to improve women’s entrepreneurial skills. Non-members are welcome to attend.
Organization of Women in International Trade
OWIT-Miami, Inc.
100 Miracle Mile, Suite 200
Coral Gables, Florida 33134
Tel: 305-971-2880
Pat McLeod, President
WIT promotes the advancement of women in the field of international trade through monthly programs, networking and community projects. WIT is affiliated with the national organization OWIT and chapters are located throughout the world.
www.wit-miami.com
Women’s Chamber of Commerce of Miami-Dade County
Plaza 51-225
P.O. Box 566164
Miami, Florida 33256-6164
Tel: 305-316-2536
Web Site:
www.wccmiamidade.org
E-mail:
womenschamber@aol.com
Paula Ehrlich, Chair
The Women’s Chamber of Commerce of Miami-Dade County is a not-for-profit organization offering programs and workshops for career development and personal growth. The chamber emphasizes networking, legislature awareness and women’s issues.
MINORITY BUSINESS ASSISTANCE
CAMACOL The Latin Chamber of Commerce of the United States
1410 W Flagler Street
Miami, Florida 33135
Tel: 305-642-3870
Fax: 305-642-0653
William Alexander, President
Program includes business assistance, trade missions, business relationships throughout Latin America and the Caribbean, and an in-house employment bureau.
Entrepreneurial Education Center Miami-Dade Community College
6300 NW 7 Avenue
Miami, Florida 33150
Tel: 305-237-1900
Fax: 305-237-1908
Leigh Tony, Executive Director
The Entrepreneurial Education Center provides education and training to small and minority entrepreneurs in small business management. The center also has a Small Business Development Center to provide one-on-one counseling to clients, and a business library is also available.
Southern Florida Minority Supplier Development Council, SFMSDC
9499 N.E. 2nd Avenue, Suite 201
Miami, Florida 33138
Tel: 305-762-6151
Fax: 305-762-6158
www.sfmsdc.org
Beatrice Louissaint, President
The mission of the Southern Florida Minority Supplier Development Council is to link Corporations and Government Agencies with Minority Business Enterprises (MBEs) to foster business development and expansion. The SFMSDC is an affiliate of the National Minority Supplier Development Council (NMSDC). The organization is a network of 38 regional affiliates and more than 16,000 certified minority-owned companies with 3,500 corporate members, including America’s top publicly and privately-owned companies and foreign firms, hospitals, universities and other buying institutions.
Miami-Dade County Department of Business Development
111 NW 1 Street, 29 Floor
Miami, Florida 33128
Tel: 305-375-3111
Fax: 305-375-3160
Marsha E. Jackman, Director
This department is responsible for coordinating and implementing minority business enterprise activities. The department certifies minority businesses to be eligible to participate in county contracts through the Minority and Disadvantaged Business Enterprise programs, provides technical assistance, and implements the county’s Accounting Services and Business Reimbursement programs.
Tools for Change Black Economic Development Coalition
5800 NW 7th Avenue, Suite 212
Miami, Florida 33127
Tel: 305-751-8934
Fax: 305-751-1619
Murkel Coppins, Executive Director
Tools for Change was created to make the economic development system more effective in delivering jobs, buildings and services to residents, workers and business owners in Miami Dade County’s black community. TFC currently manages a $1.8 million Miami-Dade County loan guarantee fund for businesses located in predominantly black census tracts or for black-owned businesses. Services include technical assistance in business start-up and management, loan packaging and business planning and legal assistance.
U.S. Small Business Administration
100 S. Biscayne Blvd 7th Floor
Miami, FL 33131
Tel: 305-536-5521
Fax: 305-536-5058
Ray Moran, Business Opportunity Specialist-MED
The SBA’s 8A Program provides federal contracts and other assistance to small companies owned by socially and economically disadvantaged persons in order to expand their participation in U.S. government procurement of equipment, products and services.
The IRS Tax Center
The IRS Tax Center provides links to IRS.gov web pages specific to the needs of business owners and tax professionals within the small business community. These links provide you direct access to various IRS services, information, forms and publications.
The Virtual Small Business Tax Workshop is designed to help new and existing small business owners understand and meet their federal tax obligations. The workshop consists of nine lessons. The link to it is:
http://www.tax.gov/virtualworkshop/