Two New Assistance Programs to Help Businesses Affected by COVID19
Published on July 06, 2021
The City of Miami will open two business assistance programs tomorrow, Wednesday, July 7, at 12 noon, to provide financial aid to qualifying City businesses affected by COVID-19. Applications for the Business Continuity Microenterprise Assistance Program 2(BCMEP2) and the Small Business Emergency Loan Assistance Program 2 (SBELP2) will be available to small businesses that meet the respective program criteria, are located within the City of Miami (property folio must begin with 01), and have not received business assistance from previous City COVID relief business programs.
The BCMEP2 will provide grants to qualified, for-profit businesses located in the City with five or fewer employees including the business owner. Eligible businesses can receive up to $15,000 to pay allowable business expenses including, but not limited to, employee salaries, rent, and utility payments. The program also requires that the owner of the microenterprise business be 80% of area median income (AMI) or below adjusted for household size, as defined by the US Department of Housing & Urban Development (HUD). For more on this program, visit www.miamigov.com/BCMEP2.
The SBELP2 will provide forgivable loans of up to $35,000, to qualified, for-profit businesses with more than five employees with a maximum of twenty. The assistance can cover allowable business expenses including, but not limited to, employee salaries, rent and utilities. For every loan, one full-time permanent job for a low-moderate income person (80% AMI or below) must be retained for at least six months for the loan to be forgiven. For more on this program, visit www.miamigov.com/SBELP2.
Applications can be submitted via the program’s web page once the portal opens on July 7 at 12 noon. Businesses must upload all required documentation via the online portal. For complete program requirements and regulations, visit each program’s web page.
Applications will be reviewed on a first-come, first-ready basis and the City will close the application period once it receives a sufficient number of applications based on available programmatic funding. Due to the volume of applications anticipated, applying online is highly recommended. Applications will also be available on July 7, at 12 noon, for downloading and printing online (web pages above), or for pick up at the City’s Neighborhood Service Centers. Please call 311 for a list of those locations. Those submitting paper applications must also include all the supporting documentation required by either program.
Persons with a disability requiring a special accommodation to apply for either program during the application period, can call 305-416-2080. This program is funded by the federal Community Development Block Grant program (CDBG-CV3).