August 18, 2022

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Components 1 Funds $500K for Miami Gardens Companies

[MIAMI GARDENS] – The Neighborhood Fund of North Miami Dade (“CFNMD”), a subsidiary of the Opa-locka Neighborhood Growth Company (OLCDC), introduced at the moment that Components 1 has dedicated to supply a grant of as much as $500,000 to help entrepreneurs who personal small companies in Miami Gardens.

With this grant, CFNMD will have the ability to make extra loans to the small enterprise homeowners who want them most.   The grant is particularly reserved for residents and companies in Miami Gardens and is in recognition of the 10-year relationship between the Metropolis of Miami Gardens and Components 1.

The Components 1 Miami Gardens Small Enterprise Mortgage Program additionally obtained $100,000 in extra help from Truist Basis.

Monetary Increase to Underserved Teams

“As a result of Miami Gardens has over 110,000 residents, shut to six,000 companies, and a inhabitants that’s near 70% African American and 20% Hispanic, Components 1’s grant is assured to have most impression in serving to small enterprise owned by traditionally underserved teams, comparable to girls, African-People and Hispanics,” acknowledged Dr. Willie Logan, President and CEO of Opa-locka Neighborhood Growth Company, the CFNMD’s dad or mum firm.

Entry to Capital

Furthermore, the CFNMD is the proper group to get the cash distributed as a result of in response to Lia Yaffar, CFNMD’s Government Director, “CFNMD is a licensed Neighborhood Growth Monetary Establishment (CDFI).  We’re devoted to offering entry to capital to underserved companies and we’re laser-focused on serving to communities and entrepreneurs of coloration thrive.  The wonderful thing about what we do is that we don’t simply get the cash out, we act as companions to the companies that we service and provide extra layers of help and technical help to assist them develop,” concluded Yaffar.

Useful to Miami Gardens

Rodney Harris –  City of Miami Gardens
Rodney Harris –Mayor, Metropolis of Miami Gardens (file photograph)

“The partnership between the Metropolis of Miami Gardens and Components 1 continues to be useful to our group.  I’m happy that the group stays dedicated to investing in our native companies by making assets extra accessible to them by means of the Neighborhood Fund of North Miami Dade. The supply of assets is useful to our companies, and that enhances the standard of life for our residents, which is a chance we gladly welcome,” commented the Honorable Rodney Harris, Mayor, Metropolis of Miami Gardens, Florida.

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