Small Business Loans in Florida

Ready to find success and secure a small business loan? You're in the right place! Our in-house research team of finance experts has compiled this most comprehensive list of business loans for you to find the best option for you. Bad credit and startups acceptable when meeting specific qualifications.

10 Small Business Loans in Florida

This list reflects our own, in-house research into small business lending in Florida, grounded in real data. The lenders are ranked according to the volume of small business loans they have issued within the current year.

To put it simply, these are the lenders that are actively providing the most loans to small businesses in Florida.

(Our approach differs from other websites, who highlight nonprofits that seldom lend and government programs that are challenging for most businesses to qualify for.)

Takeaway: The lion's share of small business financing in Florida is handled by large, national banks. 

Methodology: Our analysis is based on data from SBA 7a loans. Consequently, all the listed lenders are providers of SBA loans. In addition to this, we have included other small business loan options showcased on their websites. 

Regrettably, traditional banks often demand high credit scores and a minimum of two years in business. Therefore, our list begins with a couple of financing alternatives for small business owners who have poor credit or have been in business for a short time.

1. Credit Suite

Credit Suite operates as a consultancy and software provider in the business credit domain that offers two unconventional funding options.

For entrepreneurs facing credit challenges, the Cash Flow Financing option is available. This approach allows business owners to harness their enterprise's cash flow for obtaining adaptable financial support. Instead of fixed monthly repayments, the amount is repaid through a portion of the business's continuous cash flow.

Alternatively, the Credit Line Hybrid is tailored to serve small and established businesses, providing financing solely based on the individual's creditworthiness. You don’t need cash flow or collateral to quality. Extensive documentation, financial statements, or business plans are not required either. 

The Credit Line Hybrid offers credit amounts ranging from $5,000 to $150,000.

Business financing options offered:

  • Credit Suite Cash Flow Financing
  • Credit Suite Credit Line Hybrid

2. TD Bank

TD Bank, a prominent financial institution, has a widespread presence across all East Coast states, excluding Georgia. The bank boasts numerous retail outlets and provides a diverse range of financing options tailored for small businesses. Additionally, it holds the status of an SBA Preferred Lender.

Business loan applications at TD Bank can be conveniently submitted either online or face-to-face.

Business financing options offered:

  • Term Loans
  • Business Lines of Credit
  • Commercial Real Estate Loans & Mortgages
  • SBA Loans
  • Revolving Lines of Credit
  • Equipment Financing
  • Asset Based Lending
  • Supply Chain Financing
  • TD Business Solutions Credit Card

3. BayFirst National Bank

BayFirst National is primarily concentrated on providing SBA loans. Their website proudly proclaims, "Lightning Fast Business Loans!" along with "In-house team, quick funding." They have an internal underwriting team, which translates to both rapid processing and specialized knowledge.

Given that SBA loans typically require an extended wait time to secure funding, BayFirst National's ability to expedite this process represents a significant benefit.

Business financing options offered:

  • SBA Loans

  • Commercial Real Estate Loans

  • Commercial Term Loans

  • Commercial Lines of Credit

  • Construction Loans

  • Heavy Equipment Financing

4. The Huntington National Bank

The Huntington National Bank is the top SBA 7a lender in the country, so it’s no surprise that they do a lot of lending in Florida. 

They offer many small business financing products, such as equipment leasing, agricultural loans, and many real estate loans. They also have some unique offerings such as fraternity and sorority financing, loans for churches, and warehouse loans. 

Business financing options offered:

  • SBA 7a Loans

  • Equipment Leasing

  • Church Lending

  • Greek House Financing

  • Agricultural Loans

  • Warehouse Lending

  • Real Estate Loans, Term Loans, and Lines of Credit

5. Wells Fargo Bank

Wells Fargo, a well-known national bank, is a familiar sight in many towns. Despite its size, the bank offers a relatively limited selection of financing products for small businesses. However, their location on this list is due to the substantial volume of loans they manage to originate.

Business financing options offered:

  • SBA 7a Loans & 504 Loans
  • 2 Business Lines of Credit
  • Practice Financing

6. Bank of America

Bank of America, another major national bank, features prominently on this list. They are particularly active in issuing small business loans throughout Florida, with numerous branches across the state.

Their range of small business financing products is commendable. Even more notable is their clear delineation of the requirements for business loans. Such openness is uncommon among lenders, and this transparency is praiseworthy. 

So, if you're considering a small business loan from Bank of America, it's advisable to ensure you meet the criteria for the desired product before applying. 

Business financing options offered:

  • Business Advantage Credit Line

  • Business Advantage Term Loan

  • Commercial real estate

  • Equipment loans

  • SBA loans

  • Healthcare practice loans

  • Secured Business Line of Credit

  • Secured Business Term Loan

7. Newtek Small Business Finance

Newtek might not be a conventional bank with physical branches, which is why it may not be widely recognized. Yet, it's a big, publicly traded company, and it does extensive small business lending.

While their website displays merely four small business financing choices, they offer a broad array of additional financial services and products tailored for small enterprises. This range encompasses payment processing, insurance, employee benefits, and payroll management, among other services.

Business financing options offered:

  • Term Loans

  • Asset Based Financing

  • Inventory Based Financing

  • SBA Loans

8. JPMorgan Chase Bank

Chase Bank stands as one of the largest banks in the United States, making it unsurprising that they are a significant player in small business lending in Florida.

Their reputation among small business owners is often due to their widely recognized business credit cards. These cards are known for their rewards programs. Chase has also collaborated with major airlines and hotel chains to enhance the rewards available through many of their credit cards.

Business financing options offered:

  • 2 Business lines of credit

  • 3 Business loans

  • Commercial real estate financing

  • 4 business credit cards, plus 6 co-branded airline/hotel cards

9. SouthState Bank

SouthState Bank is a small bank with a presence throughout the southeastern states. 

They have a smattering of normal business loans, but their “Franchise Finance” product is different. Most small business lenders don’t cater to franchises, so if that’s you, you’d do well to investigate. 

Business financing options offered:

  • Lines of Credit

  • Term Loans

  • Business Lending Express

  • SBA Loans

  • Franchise Finance

  • Business Real Estate Loans

10. Readycap Lending

Readycap primarily specializes in SBA 7a loans and USDA Business and Industry loans for small businesses. Beyond these government-supported loans, they provide a variety of specialized commercial real estate loans.

For those involved in real estate investment or development, exploring Readycap's diverse range of loan products is advisable, as they present several unique loan options not commonly found elsewhere. 

Business financing options offered:

  • SBA 7a Loans

  • USDA B&I

  • Many Niche Commercial Real Estate Loans 

How to apply for a small business loan in Florida 

Getting your small business funded doesn't have to be overwhelming, regardless of how many steps may be involved. Let the leading business guides at Credit Suite help you along the way!