Agency / Department: Miami-Dade County
Resource: Small Business Assistance Forgivable Loan Program
Details: Mayor Carlos A. Gimenez announced today the implementation of Miami-Dade County’s initial fiscal response to the impacts on small businesses brought on by the novel Coronavirus (COVID-19) outbreak. The loans will be up to $25,000, with 0% interest and no origination fees. The “forgivable” feature of the loans rests on the ability of the small business borrower to retain jobs that are held by those of low or moderate income, meaning those who earn less than 80% of the annual Area Median Income. In Miami-Dade County, the annual AMI for a single person is $51,200.