GGP Bayside Marketplace Presents Annual Contribution to Foundation
Posted on Apr 23rd 2012 11:58 AM
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The General Growth Property (GGP) Bayside Marketplace hosted a reception on Saturday, April 14 at Lombardi’s Italian Ristorante to celebrate its 25th anniversary and present the Miami Bayside Foundation with its 2011 contribution of $330,663.
Previous years’ contributions by GGP Bayside Marketplace allowed the Miami Bayside Foundation during 2010 to award loans to six startup and emerging businesses in the City of Miami, including Panther Coffee, Sound Theory Live Holdings, The Stage, Doors Inc., IMR Development and Nice Transportation Services and to gift FIU $200,000 for scholarships to minority students living in the City of Miami and studying entrepreneurship.
Each of the loan recipients received a $50,000 loan with an interest rate of 6 percent. The loan monies are used to serve the business in a variety of capacities including assisting in the purchase of equipment and the hiring of additional staff.
“We are proud to be supporting local, minority-owned companies that can make a difference in this economy,” said Louis McMillian, Chair of the Foundation’s Loan Committee."
The Miami Bayside Foundation, a City of Miami-based nonprofit established in 1986, has created and administers a loan program for minority businesses, has established a scholarship fund for minorities studying entrepreneurship and business, and provides technical assistance to community and development organizations in the City of Miami. The Foundation has succeeded in helping hundreds of local City of Miami residents achieve their goals.
For more information on the Foundation, visit www.miamibaysidefoundation.org.