Two new aid programs to help businesses affected by COVID19
Posted on 06 July 2021
The city of Miami will open two business assistance programs tomorrow, Wednesday July 7 at noon, provide financial assistance to eligible City businesses affected by COVID-19. Applications to Microenterprise Business Continuity Assistance Program 2(BCMEP2) and the Small Business Emergency Loan Assistance Program 2 (SBELP2) will be available to small businesses that meet the criteria of the respective program, are located in the city of Miami (the property folio must start with 01) and have do not has received commercial assistance under City’s previous COVID relief commercial programs.
the BCMEP2 will provide subsidies 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 for eligible business expenses, including, but not limited to, employee salaries, rent, and utility payments. The program also requires that the owner of the microenterprise be 80% of the area’s median income (AMI) or less adjusted for household size, as defined by the US Department of Housing and Urban Development (HUD). To learn more about this program, visit www.miamigov.com/BCMEP2.
the SBELP2 will provide forgivable ready up to $ 35,000, qualified for-profit companies with more than five employees with a maximum of twenty. Assistance may cover eligible business expenses including, but not limited to, employee salaries, rent, and utilities. For each loan, a permanent full-time job for a low-income person (80% AMI or less) must be retained for at least six months for the loan to be canceled. To learn more about this program, visit www.miamigov.com/SBELP2.
Applications can be submitted through the program’s webpage as soon as the portal opens on July 7 at noon. Businesses should upload all required documentation through the online portal. For complete program requirements and regulations, visit each program’s web page.
Applications will be reviewed on a first come, first loan basis and the City will close the application period once it has received a sufficient number of applications based on available programmatic funding. Due to the expected volume of applications, it is strongly recommended that you apply online. The forms will also be available on July 7 at noon, for download and print online (web pages above), or for collection at Neighborhood service centers. Please call 311 for a list of these locations. Those submitting paper applications must also include all supporting documents required by either program.
Persons with disabilities requiring special accommodation to apply for either program during the application period can call 305-416-2080. This program is funded by the Federal Block Grants for Community Development Program (CDBG-CV3).