{"id":34937,"date":"2023-07-12T03:43:18","date_gmt":"2023-07-12T03:43:18","guid":{"rendered":"http:\/\/3.139.175.126\/?page_id=34937"},"modified":"2025-08-18T15:22:17","modified_gmt":"2025-08-18T15:22:17","slug":"miami-open-for-business","status":"publish","type":"page","link":"https:\/\/miamifoundation.org\/miami-open-for-business\/","title":{"rendered":"Miami Open For Business"},"content":{"rendered":"
[vc_row full_width=”stretch_row” css=”.vc_custom_1744419983744{padding-top: 45px !important;padding-bottom: 45px !important;background-color: #E9F5FB !important;}”][vc_column width=”2\/5″][vc_raw_html css=””]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[\/vc_raw_html][\/vc_column][vc_column width=”3\/5″][vc_column_text css=””]\n

Miami Open for Business<\/h1>\n

Miami Open for Business was a pandemic-era initiative made possible by a $20 million grant from Wells Fargo.<\/strong> The pandemic laid bare the inequities that exist in small business entrepreneurship: while minorities and women are creating and growing businesses at a faster rate than their peers, they tend to have lower revenue and receive fewer loan approvals, among other challenges, all of which were worsened by the pandemic.[\/vc_column_text][\/vc_column][vc_column css=”.vc_custom_1752253767132{margin-top: -60px !important;}”][vc_column_text css=””]For this reason, Wells Fargo poured back into small businesses in five key cities across the country, including Miami \u2013 creating Miami Open for Business. Launched in 2022, this program had an explicit focus on asset-building and asset ownership to make small businesses (and nonprofits, which were also eligible to benefit from the program) more resilient and capable of building generational wealth.[\/vc_column_text][vc_row_inner][vc_column_inner width=”1\/4″][vc_btn title=”Our Approach” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-list-check” css=”” add_icon=”true” link=”url:%23approach”][\/vc_column_inner][vc_column_inner width=”1\/4″][vc_btn title=”Our Publications” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-book” css=”” add_icon=”true” link=”url:%23publications”][\/vc_column_inner][vc_column_inner width=”1\/4″][vc_btn title=”Video Library” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-video” css=”” add_icon=”true” link=”url:%23Video”][\/vc_column_inner][vc_column_inner width=”1\/4″][vc_btn title=”News & Blog” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-newspaper” css=”” add_icon=”true” link=”url:%23news”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row full_width=”stretch_row” disable_element=”yes” css=”.vc_custom_1754677662965{padding-top: 45px !important;padding-bottom: 45px !important;background-color: #E9F5FB !important;}”][vc_column css=”.vc_custom_1752253767132{margin-top: -60px !important;}”][vc_row_inner][vc_column_inner width=”1\/5″][vc_btn title=”Our Approach” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-list-check” css=”” add_icon=”true” link=”url:%23approach”][\/vc_column_inner][vc_column_inner width=”1\/5″][vc_btn title=”Our Publications” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-book” css=”” add_icon=”true” link=”url:%23publications”][\/vc_column_inner][vc_column_inner width=”1\/5″][vc_btn title=”Data Dashboard” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-diagram-predecessor” css=”” add_icon=”true” link=”url:https%3A%2F%2Fmiamifoundation.org%2Fmiami-open-for-business%2Fdata-dashboard%2F|title:Miami%20Open%20for%20Business%20Data%20Dashboard”][\/vc_column_inner][vc_column_inner width=”1\/5″][vc_btn title=”Video Library” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-video” css=”” add_icon=”true” link=”url:%23Video”][\/vc_column_inner][vc_column_inner width=”1\/5″][vc_btn title=”News & Blog” style=”outline” shape=”square” color=”black” align=”center” i_icon_fontawesome=”fa fa-solid fa-newspaper” css=”” add_icon=”true” link=”url:%23news”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”ex-full” bg_color_value=”#A4CC00″][vc_column][vc_column_text css=””]\n

The Impact<\/h2>\n[\/vc_column_text][vc_row_inner content_placement=”top”][vc_column_inner width=”1\/5″]
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OF FUNDING RECIPIENTS
\nARE WOMEN-LED ORGANIZATIONS<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/5″]

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JOBS PRESERVED<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/5″]

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JOBS CREATED<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/5″]

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INCREASE IN REVENUE FOR
\nPARTICIPATING BUSINESSES<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/5″]

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ACRES OF LAND
\nACQUIRED THROUGH CREO<\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner content_placement=”top” disable_element=”yes”][vc_column_inner][vc_btn title=”View More Data” style=”outline” shape=”square” color=”black” align=”center” css=”” link=”url:https%3A%2F%2Fmiamifoundation.org%2Fmiami-open-for-business%2Fdata-dashboard%2F|title:Miami%20Open%20for%20Business%20Data%20Dashboard”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1752274592757{padding-top: 45px !important;padding-bottom: 30px !important;}” el_id=”approach”][vc_column width=”2\/3″][vc_column_text css=””]\n

The Miami Open for Business Approach<\/h2>\n

The program prioritized small business owners and nonprofit leaders in specific Miami communities that have been historically overlooked and underinvested. We developed two core ways to serve them: by providing financing and technical assistance.[\/vc_column_text][\/vc_column][vc_column width=”1\/3″][vc_single_image image=”34941″ img_size=”full” alignment=”center” css_animation=”fadeIn” css=”.vc_custom_1689293279519{padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;}”][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator color=”black” border_width=”3″ css=””][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1752274600751{padding-top: 30px !important;padding-bottom: 30px !important;}” el_id=”products”][vc_column][vc_row_inner][vc_column_inner width=”1\/6″][\/vc_column_inner][vc_column_inner width=”2\/3″][vc_column_text css=””]\n

Financial Products<\/h2>\n

$15 million was distributed in the form of three financial products, informed by deeply listening to stakeholders and small businesses in the community:<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/6″][\/vc_column_inner][\/vc_row_inner]