BUSINESS REPORT SPECIAL EDITION
August 4, 2020
HOSPITALITY INDUSTRY GRANT
APPLICATIONS NOW BEING ACCEPTED!
NEW! Applications are now being accepted for Miami-Dade County's Hospitality Industry Grant (HIG) Program to assist local, independently owned and operated restaurants and non-home-based caterers impacted by COVID-19. The HIG allocations will be calculated based on individual percentages of eligible costs incurred, with a maximum award of $25,000 per establishment. The program will award grants to a maximum of two (2) establishments per restaurant/hospitality group. Priority will be given to applicants that have a single establishment. If an applicant has two or more establishments and requests assistance for both, then a single application must be submitted. We urge you to please review the application to see if you meet the eligibility requirements. 
APPLY FOR A SMALL BUSINESS RELIEF LOAN
Miami-Dade County also has a loan program for small businesses impacted by COVID-19. The program, called Re-Investing in our Small Business Economy (RISE), provides up to $30,000 to small businesses. The loan will come due in three years with a fixed interest rate tied to the Prime Rate. This program was made possible with the funds provided to the County through the federal CARES Act. For more information or to apply, click here.

To qualify for a RISE loan, businesses must operate in Miami-Dade County; be in operation for at least two years; have gross sales of less than $2 million; and have 25 or fewer employees/independent contractors. Owners must live in the County; have a credit score greater than 575; have 20% or more ownership/stake in the business; and not have any bankruptcies or foreclosures in the past three years. 
WATCH "HOW TO" WEBINAR FOR ADVERTISING ON SOCIAL MEDIA
The City of Coral Gables recently held a webinar for businesses on the step-by-step process of advertising on social media. With an active “Safer at Home” Order and limited businesses opening their doors, digital interactions with customers are crucial. Watch this free webinar on how to place an ad on Instagram and Facebook, along with great tips and insight from moderator and retail consultant Syama Meagher. Click here to watch the video.
City of Coral Gables Economic Development Department www.coralgables.com/economic