Continental National Bank in partnership with Miami-Dade County Small Business Development division has relaunched a program designed to lend short-term working capital to Small Business Enterprise (SBE) firms.
The Small Business Bonding and Financial Assistance Program (SBBFAP) offers eligible SBE firms, including goods, services, construction, architecture and engineering firms, a line of credit financing up to $250,000. The borrowed amounts will be used to fund invoices or requisitions for work completed under a Miami-Dade County contract or subcontract. The program’s kickoff workshop met July 28.
“The Small Business Development Division of Miami-Dade County is enormously grateful to Guillermo Diaz-Rousselot and Continental National Bank for their continuous support and visionary leadership in assuring that small business owners have access once again to bonding and financial assistance for their businesses. Historically, this has been a major inhibitor to success. We believe this program will have positive and productive results for the Miami-Dade community,” said Carlos Ansuarez, bonding and loan coordinator at the Small Business Development division of Miami-Dade County’s Internal Services Department.
“We are committed to helping small businesses grow. For 43 years we have provided access to capital that helps drive business expansion and strengthen our economy. Already, this program is supporting business growth and new opportunities for small business owners across our county,” said Guillermo Diaz-Rousselot, president and CEO of Continental National Bank in his keynote address at the workshop.
“For so long, small business owners have been held back from participating in county projects and other large undertakings, because they had difficulty getting the necessary funds. We are pleased to be a part of this program again to help change that. The Small Business Bonding & Financial Assistance Program will open up new opportunities and give these business owners the chance to tackle more and larger projects, to grow their businesses, to create jobs and foster economic development all across our community,” said Ivette Llopiz, SBA officer at Continental Bank.
Also attending the kickoff event was Miguel Miranda Sr., vice president and credit administrator at Continental National Bank; Anthony Acosta, bonding and loan coordinator for the county’s Small Business Development division; Vivian Walters Jr., SBD section chief at Miami-Dade County's Internal Services Department; and Gary Hartfield, SBD director at the Internal Services Department who spearheaded the lending initiative.
-Submitted by Continental National Bank