Miami Bayside Foundation

A nonprofit organization whose mission is to further economic development in Miami

Miami Bayside Foundation (MBF) is a nonprofit organization whose mission is to further economic development in Miami. MBF accomplishes this through loans and technical assistance to minority- and women-owned small businesses and through educational scholarships and grants.

In 1986, MBF was founded to revitalize the City of Miami’s downtown economic core as a result of a minority participation agreement between the City of Miami and Bayside Marketplace, an open-air shopping center on the waterfront in the heart of Miami. After a long period of relative inactivity, MBF brought on-board a new team in 2010, creating its first loan program for small businesses and its scholarship endowments at Florida International University and Florida Memorial University, also restructuring the existing endowment at Miami Dade College.

In 2012, MBF began forming partnerships with and awarding grants to organizations that provide educational programs and resources for minority students in Miami, enabling them to excel in early learning, school readiness, primary and secondary school, as well as transition to and succeed in college and/or the world of work. MBF has awarded more than $2.1 million to these programs as well as more than 1,500 scholarships totaling more than $1.5 million.

MBF became a Community Development Financial Institution in 2014, allowing it to apply for funds from the U.S. Treasury and to receive matching loan funds from Enterprise Florida, Inc., through their State Small Business Initiative Loan Participation Program. In 2015, recognizing a need in the small business community for support beyond funding, MBF started its Small Business Training.

The ten-session, 25-hour workshop provides business owners with essential tools and skills to grow their companies. Recently, MBF created a certificate series in finance and marketing to provide focused training on those key topics. To date, more than 350 businesses have benefited from MBF’s training programs.

In 2018, MBF partnered with the State of Florida’s Department of Economic Opportunity to become the administrator of the Black Business Loan Program in Miami-Dade County. Also in 2018, the U.S. Small Business Administration designated MBF Community Partner of the Year for the State of Florida and the South Florida District. Since 2011, and with amounts ranging from $2,500 to $150,000, MBF has awarded over 100 loans totaling more than $5.1 million, helping create more than 400 jobs in Miami.

 

There are many success stories among the recipients of MBF’s loans and scholarships:

  • Bunnie Cakes, a vegan bakery who received start-up funds as well as funds to grow, opening two new locations and graduating to traditional bank funding;
  • Panther Coffee, a coffee roaster, retailer, and wholesaler specializing in the small-batch roasting of coffee beans who similarly received start-up funds followed by funds to grow, graduated to traditional bank funding and currently has six retail locations;
  • Haynes Security Services who received funds to grow and then scale even further and now has received a multi-million dollar contract from the Miami-Dade County Public Schools;
  • THE COOL Miami, who sells graphic t-shirts and hats, and who received funds to open up a retail location, is about to open a second; not to mention the many students who have persevered and achieved their educational goals.

We continue to look for opportunities to advance economic development in Miami through the support of business and education while expanding and strengthening our ongoing programs.

Miami Bayside Foundation

www.miamibaysidefoundation.org
(305) 379-7070
info@miamibaysidefoundation.org
25 SE 2nd Ave, Ste 240 Miami, Florida

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