(PRWEB) May 10, 2013
The Miami Bayside Foundation, a nonprofit organization designed to advance economic development in the City of Miami through the support of minority businesses and education, launched a microloan program for City of Miami minority businesses. The program will provide loans in amounts of $2,500 to $10,000 with eighteen to twenty-four month terms. A microloan has already been approved and funded in the amount of $10,000 to AutoPortation, a City of Miami business that brokers automobile transportation and specializes in delivering vehicles throughout the United States.
Evan Leaphart, owner of AutoPortation, remarked, "Ask any small business owner and they will tell you the biggest issue that they encounter is cash flow... The Miami Bayside Foundation took a look at my business and believed in the company and most importantly myself and was willing to take a chance on me. I have used my micro loan to expand my marketing efforts and smooth out operations. I am so thankful for...the Miami Bayside Foundation and am forever an advocate of their causes."
The Miami Bayside Foundation, a City of Miami nonprofit organization established in 1986, has created and administers a loan program for City of Miami minority businesses, funds scholarship endowments and gift programs for City of Miami minorities studying entrepreneurship and business, and provides technical assistance to community and development organizations in the City of Miami.
For more information on the Miami Bayside Foundation, please call (305) 379-7070, e-mail info(at)miamibaysidefoundation(dot)org or visit http://www.miamibaysidefoundation.org.