The Miami Bayside Foundation announced its first loan recipients for 2011 during a reception at Bayside Marketplace’s Marina Stage on Wednesday, Mar. 2. The recipients are Joel and Leticia Pollack of Panther Coffee LLC and Carlos Alvarez of Sound Theory Live Holdings LLC d.b.a. The Stage.
Panther Coffee — a specialty coffee roaster, retailer and wholesaler specializing in the small-batch roasting of coffee beans and the preparation of coffee beverages — is located in the Miami’s Wynwood neighborhood.
Just up the street in the Miami Design District is The Stage, a live music venue presenting daily performances and a food and drink menu, with family-oriented activities including music, arts and crafts on Sundays.
Each of the recipients received a $50,000 loan with an interest rate of 6 percent. The loan moneys are made possible by an annual contribution by GGP Bayside Marketplace. GGP Bayside Marketplace’s 2011 contribution presented during the reception totaled more than $300,000.
The Miami Bayside Foundation, a Miamibased 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 Miami.
For more information on the Miami Bayside Foundation, visit online at www.miamibaysidefoundation.org.