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Whether you have an established small business or are just starting out, getting an SBA loan in Miami can be an amazing opportunity to further grow your business. While it might seem like Miami small business loans are hard to come by, the rules are a bit different for SBA loans.
The Small Business Administration guarantees these loans which is why there’s not much red tape to go through with the banks. Miami SBA lenders provide financing under the widely known 7(a) and 504 programs with attractive rates and longer repayment terms. Businesses in a diverse range of industries can apply and obtain financing of up to $5 million.
Trying to figure out how to get an SBA loan in Miami can be daunting, particularly if you haven’t done it before. You won’t even know which bank to trust with your SBA loan application. We’ve made things easier with you with this list of the most active Miami SBA banks:
| Miami Rank | Miami Lender | Bank Headquarters | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 105 | $158,984 | 7.7% |
| 2 | Wells Fargo | Sioux Falls, SD | 25 | $134,588 | 7.9% |
| 3 | First American Bank | Elk Grove Village, IL | 24 | $380,483 | 4.8% |
| 4 | First Bank | Southern Pines, NC | 16 | $1,147,350 | 5.5% |
| 5 | Pilot Bank | Tampa, FL | 12 | $1,381,433 | 5.9% |
Connect me to a Miami lender!
Remember: Only looking for “Miami business loans” or “SBA lenders in Miami” online won’t get you too far. SbaLenders.com works with both local and nationwide preferred SBA lenders that can unlock these incredible funding opportunities for you quickly. Let us connect you to these lenders so that a major hurdle in the growth of your business can be removed.