Federal and state agencies offer programs to help business owners recover from COVID-19 losses. But for some, it’s not enough. Recognizing the needs of local businesses, the City of Miami has opened two programs that offer additional COVID-19 support to qualifying Miami businesses.
Business Continuity Microenterprise Assistance Program 2 (BCMEP2)
Through the BCMEP2, the City of Miami is providing COVID-19 support grants to eligible for-profit businesses that:
- are located in the City of Miami, and
- have no more than five employees, including the business owner.
Business owners must be at “80% of area median income (AMI) or below” as adjusted for household size. The United States Department of Housing & Urban Development (HUD) defines the AMI and household size. In addition, businesses must meet other criteria found on the City of Miami website.
A business that qualifies could receive up to $15,000 in COVID-19 support. The money should be used to pay for allowable business expenses. In this regard, eligible business expenses include:
- Employee salaries,
- Rent, and
- Utility payments.
For more information, check the City of Miami site.
Small Business Emergency Loan Assistance Program 2 (SBELP2)
The City of Miami also offers additional COVID-19 support through the SBELP2 loan program. Eligible for-profit businesses might receive loans of up to $35,000 or 20% of their 2019 gross revenues, whichever is less. As with BCMEP2, funds can be used for salaries, rent, and utility payments.
Please note that any companies that have already received financial assistance from the City of Miami are not eligible for this program.
How to Apply for Either Program
If you feel your business qualifies for these programs, submit an application through the program web page. Most applicants will need to upload supporting documentation. Applications can be downloaded and printed online or picked up at the City of Miami’s Neighborhood Service Centers.
The City of Miami reviews applications on a first-come, first-served basis. Also, this COVID-19 support program may close to new applicants if City of Miami officials feel that they have received enough applications.
About the Author
Attorney Richard Sierra at the Florida Small Business Center assists clients like you with business and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.