| Loans and Technical Assistance Now Offered to Businesses in Miami-Dade, Broward, and Palm Beach Counties |
MIAMI, FL, MAR- 2021 /PRNewswire/ — The Community Fund of North Miami Dade (CFNMD), a certified Community Development Financial Institution (CDFI), is launching their #SheWinsWeWin campaign in honor of Women’s History Month. Designed to elevate the visibility of Black female business owners throughout South Florida that are overcoming obstacles to maintain and grow their businesses, the campaign will include digital events, infographics, workshops and more throughout the month of March.
This campaign builds on the CFNMD’s previously announced partnership with the Florida Department of Economic Opportunity for the Black Business Loan Program (BBLP), committing support for Black communities throughout 2021, in Miami-Dade, Broward and Palm Beach Counties. This commitment includes products, services, technology and financial support, as well as concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital.
In 2018, women started 1,821 net new businesses every day, with 64% of them started by women of color, according to Women’s Business Enterprise National Council. Black women-owned businesses are vital to the South Florida economy, yet they are among the hardest hit by the impacts of the COVID-19 pandemic.
“The Community Fund of North Miami Dade has a long history of helping entrepreneurs create positive change within their communities,” said Nikisha Williams, Chief Operating Officer, Community Fund of North Miami Dade. “Female entrepreneurs are often at a disadvantage to access capital to grow their businesses. That’s why it is important that we are able to bring financial and skills-based resources to women entrepreneurs in Miami-Dade, Broward and Palm Beach counties, enabling them to reach their full potential.”
Small businesses in Miami make up more than 50 percent of the workforce and, while several businesses in the community have struggled to stay open, organizations like the CFNMD generate opportunities and contribute to the needs of small businesses so that they may continue to operate and stay afloat in times of crisis. As a CDFI, the Community Fund of North Miami-Dade is 100% dedicated to delivering responsible and affordable lending to communities in need. As a non-traditional lender, financial coach and technical assistance provider, the CFNMD specializes in bridging the gap between small businesses, and the capital and education they need to capture their economic potential.
In celebration of Women’s History Month, the CFNMD will host three events: a BBLP & Women in Business Webinar on March 18th, 5:30 pm; and The Business Boost – Health Care Edition Webinar on March 24th at 6 pm; and Women in Business, in partnership with the City of Miami Gardens, on March 30th at 5 pm. For more information about the Community Fund of North Miami-Dade’s programs and services and to register for upcoming events, please contact smallbiz@cfnmd.org. CFNMD is also on Facebook and Instagram at @TheCFNMD. For more information or to inquire about a loan, visit http://cfnmd.org.
About the Community Fund of North Miami-Dade
Established in January 2002, The Community Fund of North Miami (CFNMD) is a certified Community Development Financial Institution (CDFI), providing small businesses and entrepreneurs in Miami-Dade, Broward, and Palm Beach counties within South Florida, with the support and resources they need through technical assistance, one on one counseling, and small business loans. As a subsidiary of the Opa-locka Community Development Corporation, the CFNMD’s mission is to utilize resources derived from the public and private sectors to assist the poor, distressed and underprivileged through a program of lending and investing in housing, real estate development projects, small/micro businesses and other commercial enterprises.
About the Florida Department of Economic Opportunity
The Florida Department of Economic Opportunity combines the state’s economic, workforce and community development efforts, expediting economic development projects to fuel job creation in competitive communities and promote economic resiliency. For more information, including valuable resources for employers and job seekers, please visit www.FloridaJobs.org
About the Black Business Loan Program
The Black Business Loan Program provides loans, loan guarantees, or investments through Loan Administrators to black business enterprises that cannot otherwise obtain capital through conventional lending institutions but who could otherwise compete successfully in the private sector.
If the Black Business Loan Program is appropriated funds in a fiscal year by the Florida Legislature, the Florida Department of Economic Opportunity will distribute an equal amount of the appropriation to the Loan Administrators that have been certified for that fiscal year.
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