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Click below to explore Miami Open for Business’s offerings.
Fueled by a $20 million grant from Wells Fargo, the Miami Open for Business program aims to empower historically underserved nonprofits and small businesses to build generational wealth and resilience through the purchase and ownership of critical business assets, such as property, equipment, and technology. 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 administer three financial products: Technology and Equipment Microgrants, Asset Building Loans for Entrepreneurs (ABLE), and Collective Real Estate Ownership (CREO) assistance. Read below for more information about each product.
Miami Open for Business Funding Programs
Microgrants for Technology and Equipment
Grants between $100-$20K
for nonprofits and small businesses to purchase hardware, software, machinery, and equipment.
Asset Building Loans for Entrepreneurs
(ABLE) Fund
Low-interest, patient financing from $5K-$100K to buy vehicles or inventory, renovate space, refinance predatory debt, succession financing, or co-op conversion.
Collective Real Estate
Ownership
(CREO) Funding
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.
Keep in Touch
Press
- Read the February 2022 launch Press Release here.
- Read the October 2022 program opening Press Release here.
- Read the March 2023 program opening Press Release here.
Rebecca Fishman Lipsey
“Minority-led small businesses and nonprofits are vital to the strength of our region,” said Rebecca Fishman Lipsey, president and CEO of The Miami Foundation. “This is a transformational investment from Wells Fargo that will help build generational wealth and support a stable future for diverse small businesses as we work to foster a strong, equitable, and thriving Greater Miami, which is at the core of our Foundation’s mission.”