Business

Reception to showcase Small Business Contract Lending Program

MIAMI-DADE – The Miami-Dade Department of Business Development will be holding a reception on October 11, 2006 at 6:00 p.m. at the Continental National Bank of Miami – 1801 S.W. 1st Street – to kick off its new program that guarantees loans to Community Small Business Enterprise (CSBE) and Small Business Enterprise (SBE) firms.

The program relieves some of the financial burdens these companies encounter as small business contractors/vendors when awarded County contracts.

The program guarantees loans for CSBE and SBE firms performing on County contracts, through a partnership with Continental National Bank of Miami. The intent is to bridge the gap between submission of requisition and receipt of payment. The loans are in the form of a line of credit whereby invoices for contract related expenses may be paid within 48-hours. Loans may range from a minimum of $25,000 to a maximum of $250,000 per participant. Eligible CSBE/SBEs must have a County contract award and be in good standing with the County.

Anyone interested in participating must R.S.V.P. by September 25, 2006 at 305-375-3121.

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