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  • Find me a PPP lender
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Top SBA Lenders – SBA Loans Florida

Published by sbalenders On February 26, 2020

Last annual update: Jan 17, 2021

Top Florida PPP lenders (loans <$150,000)

RankBank# PPP Loans
Florida online PPP app - Smartbiz
1Bank of America51,420
2Kabbage41,383
3Wells Fargo Bank25,589
4Cross River Bank23,136
5JPMorgan Chase Bank20,332
6Celtic Bank Corporation18,403
7Truist Bank d/b/a Branch Banking & Trust Co18,061
8Regions Bank14,945
9TD Bank8,848
10WebBank8,508

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Most active SBA lenders in Florida

Fort Lauderdale           Jacksonsville           Miami           Orlando           Saint Petersburg           Tampa 

State RankBankContact InfoBank Headquarters# of LoansAvg LoanAvg Interest
1TD BankContact BankWilmington, DE641$81,7169.9%
2Wells FargoContact BankSioux Falls, SD311$143,25510.1%
3JPMorgan Chase BankColumbus, OH163$151,9779.0%
4First Home BankContact BankSaint Petersburg, FL161$350,8298.0%
5BB&TContact BankWinston Salem, NC134$655,4307.3%
6United Midwest Savings BankContact BankDe Graff, OH130$155,6468.0%
7Newtek Small Business FinanceLake Success, NY107$648,3768.2%
8Stearns BankContact BankSaint Cloud, MN90$280,0118.0%
9The Huntington National BankColumbus, OH74$436,9857.7%
10Seacoast National BankStuart, FL74$381,0038.0%
11Independence BankEast Greenwich, RI73$139,7266.2%
12Live OakWilmington, NC65$1,607,2466.9%
13Bank of AmericaCharlotte, NC58$625,2386.1%
14Celtic BankSalt Lake City, UT51$523,2768.0%
15CenterState BankWinter Haven, FL49$1,161,9767.1%
16Fifth Third BankCincinnati, OH45$299,8478.1%
17PNC BankWilmington, DE44$169,9558.1%
18Five Star BankRancho Cordova, CA41$260,6108.0%
19BankUnitedMiami Lakes, FL40$870,1737.4%
20Cadence BankAtlanta, GA30$351,5278.0%

Here are the top 50 industries in Florida (based on small business loan volume from last year) so you can get a sense of what you may expect for your business in terms of interest rate:

RankFlorida Small Business Description# of LoansAvg LoanAvg Rate
1Hotels (except Casino Hotels) and Motels392$2,164,3635.9%
2Full-Service Restaurants1,078$554,0106.7%
3Child Day Care Services555$919,6906.3%
4Limited-Service Restaurants836$481,8856.5%
5Veterinary Services397$938,0565.7%
6Offices of Dentists555$652,5656.0%
7Offices of Physicians (except Mental Health Specialists)702$502,6476.4%
8Car Washes135$1,391,3116.4%
9Insurance Agencies and Brokerages349$486,0907.0%
10Fitness and Recreational Sports Centers407$398,4037.0%
11All Other Specialty Trade Contractors413$372,8866.8%
12Homes for the Elderly143$1,031,8216.4%
13All Other Amusement and Recreation Industries154$842,8826.7%
14Landscaping Services426$304,2777.3%
15Gasoline Stations with Convenience Stores137$930,7396.1%
16Plumbing, Heating, and Air-Conditioning Contractors399$308,4457.2%
17General Automotive Repair353$328,9167.1%
18Pharmacies and Drug Stores164$602,6206.4%
19Other Miscellaneous Durable Goods Merchant Wholesalers159$599,4276.5%
20Lessors of Nonresidential Buildings (except Miniwarehouses)97$961,0146.0%
21Lessors of Miniwarehouses and Self-Storage Units57$1,621,6256.1%
22Offices of Lawyers397$220,6337.1%
23Other Miscellaneous Nondurable Goods Merchant Wholesalers137$553,1046.7%
24Transportation Equipment and Supplies (except Motor Vehicle) Merchant76$943,1766.2%
25Supermarkets and Other Grocery (except Convenience) Stores95$753,7076.7%
26All Other Professional, Scientific, and Technical Services194$364,8256.7%
27Beauty Salons350$199,3227.3%
28Drinking Places (Alcoholic Beverages)115$606,2097.0%
29Offices of Certified Public Accountants220$304,0556.6%
30Engineering Services164$405,7966.8%
31Home Health Care Services201$329,4816.9%
32All Other Personal Services219$296,8037.2%
33Other Personal Care Services225$283,1606.9%
34Investment Advice110$566,8076.5%
35Offices of Chiropractors261$222,9156.7%
36Electrical Contractors271$213,2627.4%
37Funeral Homes and Funeral Services63$836,3626.0%
38Drugs and Druggists' Sundries Merchant Wholesalers71$740,2187.0%
39Breweries73$718,9326.7%
40General Freight Trucking, Long Distance, Truckload223$234,7228.3%
41Elementary and Secondary Schools52$988,8156.3%
42Custom Computer Programming Services146$344,3177.3%
43Bed-and-Breakfast Inns43$1,115,6406.1%
44Marinas36$1,295,7616.4%
45Offices of All Other Miscellaneous Health Practitioners128$360,1527.2%
46Other Direct Selling Establishments106$428,7547.0%
47Other Building Material Dealers82$551,8636.6%
48Snack and Nonalcoholic Beverage Bars169$263,2667.1%
49Automotive Body, Paint, and Interior Repair and Maintenance103$415,0887.4%
50Industrial Machinery and Equipment Merchant Wholesalers91$460,3416.5%

A note about these Florida SBA lenders – People frequently ask us if one of the banks above is 1) on the Florida preferred lender list 2) an approved lender in Florida, or 3) participating in the Florida SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Florida and can they process SBA loans quickly. The answer is yes, of course. These are not the small banks that only make a few SBA loans a year and do not understand the SBA 7(a) loan program. These are the banks that have made the most SBA loans in Florida. We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remissed if we did not mention that although many banks will only lend in certain geographies, there are a handful of extremely aggressive nationwide SBA lenders who will lend anywhere. These lenders understand the SBA program as well as anyone and move very quickly, so we recommend not limiting your search to your home state. If you utilize our lender match tool, we can find you suitable SBA banks based on your geography, industry, and company and size at no cost or obligation to you to save you valuable time.

 

Note: PPP loan activity data: CARES Act from March – August 2020. Does not include 2021 PPP loans.

Categories: News Tags: Florida
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