Small businesses are the lifeblood of our business, and at the core of every neighborhood Metro 1 has shaped over the past 15 years. We believe in the power of small businesses — not just because it’s a nice idea to support them, but because we have experienced firsthand how small businesses preserve culture, create community, drive innovation, sustain places, and provide for people in the places that we call “home.”
COVID-19 has been an unprecedented threat to small businesses across South Florida. From restaurants who have been forced to close, creatives such as photographers, to salon owners, boutique curators, fitness studios and more — small businesses have been hit and hit hard. We firmly believe that it’s up to all of us — not just the government, or corporate entities — to take a stand and support our small businesses at this time.
If you’re a small business located in Miami-Dade County struggling to sustain itself during this challenging time, take a look at the resources below:
Little Haiti Small Business Relief Fund
Metro 1 Community, the philanthropic arm of Metro 1, created the Little Haiti Small Business Relief Fund, in partnership with some of Miami’s leading non-profit entities, to take aim at COVID-19’s effects on one of our most beloved, and most vulnerable neighborhoods. If you are a small business owner with a business located in the greater Little Haiti neighborhood, you could be eligible for a grant of up to $2,500 to help you during this time. Employees of businesses affected by COVID-19 are also eligible to apply. Learn more at: www.metro1.com/littlehaitistrong
Small Business Emergency Bridge Loans
The Florida Department of Economic Opportunity, or DEO, has created a bridge loan program to provide short-term, interest-free loans to small businesses that have been economically damaged by COVID-19. While these are loans, not grants, that do need to be repaid, the good thing is that they are interest-free — and are available, in some circumstances, in amounts up to 100,000. To be eligible, your business must have between two and 100 employees, be located in Florida, and have been established prior to March 1, 2020. You can apply at www.FloridaDisaster.BIZ up until May 8, 2020.
Facebook Small Bussiness Grant Programs
Facebook is offering small businesses a combined $100 million in grant money through a new program created to help offset the negative impact of COVID-19. These grants will become available to small business owners in the near future; for now, Facebook is asking that interested businesses sign up to receive more information at www.facebook.com/business/boost/grants.
Operation Helping Hands
The United Way of Miami-Dade along with The Miami Herald and El Nuevo Herald have created a relief fund for families and small businesses called Operation Helping Hands. The fund is currently in the fundraising stage, but will begin to offer micro-grants to small businesses in the near future. For more information, contact caring@unitedwaymiami.org.
Miami Eats
If your small business is a restaurant, you can participate in the new Miami Eats program from MiamiAndBeaches.com (the Greater Miami Convention & Visitors Bureau). The program is helping restaurants maximize their earnings during COVID-19 by coordinating takeout and delivery efforts and providing alternative delivery options to services such as Uber Eats or Postmates, which take a large percentage of restaurant’s revenue. Visit www.miamiandbeaches.com/miamieats for more information.
Payroll Protection Program Loan — SBA 7(a)
The Payroll Protection Program Loan is a loan backed by the federal government that was created as part of the recently passed CARES act. While this is technically a loan, if the loan is used to keep your employees on the payroll, then some, or all of the loan can be forgiven. To qualify, your business much has less than 500 employees and has been economically affected by COVID-19. The program excludes any annual salaries that are over $100K. Contact your business’s home bank to see if they are participating in the program to start. Find more information here: www.sba.gov/funding-programs/loans.
These are just some of the many resources from the community and the local and federal government available now to small businesses. If you have any other resources to share or questions, please share them with our community in the comments section, or email us at marketing@metro1.com.
About Metro 1:
For 15 years, Metro 1 has been South Florida’s leading pioneer of cultured neighborhoods, molding areas such as Wynwood, MiMo, Miami’s Upper East Side, Little River, and more into the cultural + tech hubs they are today. With a track-record of more than $2.7 billion in commercial real estate transactions, Metro 1 has earned a name for itself as both a visionary and powerhouse, forging the way for sustainable urban development and economic revitalization within urban core zip codes. Founded by accoladed entrepreneur Tony Cho, Metro 1 is a full-service real estate organization offering brokerage, management, development, and community engagement services, supported by 20+ team members working from its headquarters in Miami, Fla. Learn more at www.Metro1.com.
