MIAMI GARDENS, FLA. (WSVN) – Formula One is driven to help small businesses.

They’re partnering with local organizations to give $500,000 to small businesses in Miami Gardens.

The fund is in honor of the 10-year relationship between the city and Formula One.

“What may seem like a drop in the bucket for a larger corporation could be the difference between open and closed or us, and so every dollar counts when you’re a minority small business owner in this community,” said business owner Sherronda Daye.

The money is exclusively for residents and businesses in Miami Gardens to help support and grow the community.