Miami-Dade Economic Advocacy Trust (MDEAT) announced the availability of grants through its Minority Small Black Business Capitalization Program for small to medium minority businesses in Miami-Dade County in the amount of $5,000 to improve or stabilize neighborhood businesses throughout Miami-Dade County
Donor Name: Miami-Dade County
State: Florida
County: Miami-Dade County (FL)
Type of Grant: Grant
Deadline: 07/22/2022
Size of the Grant: $5,000
Details:
Miami-Dade Economic Advocacy Trust’s $5,000 Minority Small Black Business Capitalization Program aims to create access to capital for Black entrepreneurs.
Black business owners experience unique challenges when trying to access capital to expand their enterprises. Bank of America’s 2021 Black Business Owner Spotlight reveals that 56 percent of participants admitted those challenges limited their business growth. To help reverse this trend, Miami-Dade Economic Advocacy Trust (MDEAT) is doubling grants to $5,000 for the fourth edition of its Minority Small Black Business Capitalization Program. MDEAT is distributing grants to 12 qualified businesses operating in Miami-Dade County.
Applicants are advised that grant funds can be used for the following:
- Inventory/Supplies/Other than food items
- Business Equipment
- Marketing/Advertising
- Business Expansion
- Technology (e.g., computer, software, copier, etc.)
Eligibility Criteria
- Business must have a physical location in Miami-Dade County
- Business must have been in existence for at least a minimum of three (3) years
- Provide three (3) years of business or Schedule C personal tax returns
- Employs fewer than twenty-five (25) employees
- Must have documentable hours
- Is not in default or non-compliance with any county loan or grant program
- Is not part of a national chain
- Does not engage in illegal activity
- Average revenue must not exceed $750,000 over the last three years
- Only one affiliate by common ownership and/or common management awarded Awardees are not eligible to receive an award no more than two years consecutively
For more information, visit Small Black Business Capitalization Program.
