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While public-private partnerships (P3s) are often discussed across the United States, few have achieved the long-term, sustainable impact that truly transforms communities. However, in Miami-Dade County, a groundbreaking partnership between Mayor Daniella Levine-Cava’s Strive305 program and the Dade County Federal Credit Union (DCFCU) has created a shining example of such a collaboration: ‘RISE for Small Businesses & Entrepreneurs’.
The RISE initiative is a unique partnership where the county provides capital injection for small businesses, and DCFCU administers the program. Small businesses in Miami-Dade can access up to $75,000 in funding, which helps them scale and create more job opportunities. This initiative directly supports the local economy by empowering entrepreneurs to invest in their businesses and foster innovation.
The process is designed to be simple and accessible. To qualify, entrepreneurs need a minimum credit score of 620 and must have at least two years of business operations in Miami-Dade. The eligibility criteria are straightforward, ensuring that entrepreneurs can navigate the application process without unnecessary hurdles. Furthermore, the loan terms are some of the best available in the United States for this type of funding—’Prime minus one’. Yes, you read that correctly: ‘Prime minus one’! This means small business owners are offered a highly favorable interest rate, which maximizes the impact of every dollar invested.
In 2024, the RISE fund made a tangible difference in the community by assisting 129 small businesses throughout Miami-Dade, investing a total of $4.8 million into the local economy. These funds went to businesses across diverse industries, from retail to technology, helping entrepreneurs to expand their operations, hire more employees, and improve their services. The positive ripple effect from this funding has already begun to reshape the local business landscape, creating an environment ripe for economic growth.
With 2025 now underway, Mayor Levine-Cava has set her sights even higher, tasking the Strive305 team, led by Anthony Bonamy and Manny Cid, to further strengthen their efforts in partnership with DCFCU’s Jennifer Gerson and her team. The renewed collaboration between these leaders has already delivered impressive results. In the first quarter of 2025 alone (from January 1st to March 31st), the RISE fund has assisted 47 entrepreneurs and invested $2.1 million into Miami-Dade’s small business ecosystem. The momentum is evident, with the program on track to meet its ambitious goal for the year.
By the end of 2025, the partnership is aiming to service 200 small businesses and invest a total of $10 million into the Miami-Dade community. If these goals are met, it will mark a record year for the public-private partnership, showing just how much potential exists when local government, financial institutions, and entrepreneurs work together. The results speak for themselves: Miami-Dade is fostering a robust, resilient economy that benefits all residents and businesses, regardless of size.
Mayor Daniella Levine-Cava’s vision for a Miami-Dade economy that works for everyone is setting a standard that other communities across the nation can look to for inspiration. By investing in local businesses and fostering an environment of growth, Miami-Dade is ensuring that the creation of generational wealth is always top of mind. This innovative partnership between the county and DCFCU is more than just financial support—it’s a model for building a future where small businesses thrive, contribute to the local economy, and help shape the community’s long-term prosperity.
