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SBA Lenders in Florida
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 by state. For Florida, we also break it down future by major metro – Ft. Lauderdale & Miami, Jacksonville, Orlando, and St. Pete & Tampa.
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 Florida SBA loan 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.
Top SBA lenders in Florida
| FL Rank | Florida Bank | Bank HQs | # of FL Loans | Avg Interest | Avg Florida Loan |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 372 | 7.2% | $230,386 |
| 2 | United Midwest Savings Bank | De Graff, OH | 258 | 6.0% | $213,874 |
| 3 | Wells Fargo | Sioux Falls, SD | 206 | 8.1% | $169,675 |
| 4 | Newtek Small Business Finance | Lake Success, NY | 141 | 6.1% | $849,182 |
| 5 | First Home Bank | Saint Petersburg, FL | 113 | 5.3% | $735,554 |
| 6 | Live Oak | Wilmington, NC | 113 | 5.4% | $1,423,066 |
| 7 | The Huntington National Bank | Columbus, OH | 93 | 5.6% | $427,211 |
| 8 | SouthState Bank | Winter Haven, FL | 70 | 5.3% | $969,069 |
| 9 | Paradise Bank | Boca Raton, FL | 69 | 5.2% | $1,619,494 |
| 10 | Bank of America | Charlotte, NC | 64 | 3.3% | $410,186 |
| 11 | BB&T | Charlotte, NC | 60 | 5.2% | $1,210,083 |
| 12 | Regions Bank | Birmingham, AL | 55 | 5.4% | $901,906 |
| 13 | Readycap Lending, LLC | Berkeley Heights, NJ | 50 | 5.5% | $1,089,768 |
| 14 | BancorpSouth Bank | Tupelo, MS | 44 | 5.9% | $268,920 |
| 15 | PNC Bank | Wilmington, DE | 41 | 6.4% | $727,220 |
| 16 | Citizens Bank | Elizabethton, TN | 40 | 5.8% | $802,144 |
| 17 | JPMorgan Chase Bank | Columbus, OH | 39 | 6.1% | $220,290 |
| 18 | Centennial Bank | Conway, AR | 37 | 5.7% | $880,441 |
| 19 | Seacoast National Bank | Stuart, FL | 35 | 5.8% | $754,106 |
| 20 | Synovus Bank | Columbus, GA | 32 | 5.4% | $1,477,422 |
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:
| Rank | Florida Small Business Description | # of Loans | Avg Loan | Avg Rate |
|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 392 | $2,164,363 | 5.9% |
| 2 | Full-Service Restaurants | 1,078 | $554,010 | 6.7% |
| 3 | Child Day Care Services | 555 | $919,690 | 6.3% |
| 4 | Limited-Service Restaurants | 836 | $481,885 | 6.5% |
| 5 | Veterinary Services | 397 | $938,056 | 5.7% |
| 6 | Offices of Dentists | 555 | $652,565 | 6.0% |
| 7 | Offices of Physicians (except Mental Health Specialists) | 702 | $502,647 | 6.4% |
| 8 | Car Washes | 135 | $1,391,311 | 6.4% |
| 9 | Insurance Agencies and Brokerages | 349 | $486,090 | 7.0% |
| 10 | Fitness and Recreational Sports Centers | 407 | $398,403 | 7.0% |
| 11 | All Other Specialty Trade Contractors | 413 | $372,886 | 6.8% |
| 12 | Homes for the Elderly | 143 | $1,031,821 | 6.4% |
| 13 | All Other Amusement and Recreation Industries | 154 | $842,882 | 6.7% |
| 14 | Landscaping Services | 426 | $304,277 | 7.3% |
| 15 | Gasoline Stations with Convenience Stores | 137 | $930,739 | 6.1% |
| 16 | Plumbing, Heating, and Air-Conditioning Contractors | 399 | $308,445 | 7.2% |
| 17 | General Automotive Repair | 353 | $328,916 | 7.1% |
| 18 | Pharmacies and Drug Stores | 164 | $602,620 | 6.4% |
| 19 | Other Miscellaneous Durable Goods Merchant Wholesalers | 159 | $599,427 | 6.5% |
| 20 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 97 | $961,014 | 6.0% |
| 21 | Lessors of Miniwarehouses and Self-Storage Units | 57 | $1,621,625 | 6.1% |
| 22 | Offices of Lawyers | 397 | $220,633 | 7.1% |
| 23 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | 137 | $553,104 | 6.7% |
| 24 | Transportation Equipment and Supplies (except Motor Vehicle) Merchant | 76 | $943,176 | 6.2% |
| 25 | Supermarkets and Other Grocery (except Convenience) Stores | 95 | $753,707 | 6.7% |
| 26 | All Other Professional, Scientific, and Technical Services | 194 | $364,825 | 6.7% |
| 27 | Beauty Salons | 350 | $199,322 | 7.3% |
| 28 | Drinking Places (Alcoholic Beverages) | 115 | $606,209 | 7.0% |
| 29 | Offices of Certified Public Accountants | 220 | $304,055 | 6.6% |
| 30 | Engineering Services | 164 | $405,796 | 6.8% |
| 31 | Home Health Care Services | 201 | $329,481 | 6.9% |
| 32 | All Other Personal Services | 219 | $296,803 | 7.2% |
| 33 | Other Personal Care Services | 225 | $283,160 | 6.9% |
| 34 | Investment Advice | 110 | $566,807 | 6.5% |
| 35 | Offices of Chiropractors | 261 | $222,915 | 6.7% |
| 36 | Electrical Contractors | 271 | $213,262 | 7.4% |
| 37 | Funeral Homes and Funeral Services | 63 | $836,362 | 6.0% |
| 38 | Drugs and Druggists' Sundries Merchant Wholesalers | 71 | $740,218 | 7.0% |
| 39 | Breweries | 73 | $718,932 | 6.7% |
| 40 | General Freight Trucking, Long Distance, Truckload | 223 | $234,722 | 8.3% |
| 41 | Elementary and Secondary Schools | 52 | $988,815 | 6.3% |
| 42 | Custom Computer Programming Services | 146 | $344,317 | 7.3% |
| 43 | Bed-and-Breakfast Inns | 43 | $1,115,640 | 6.1% |
| 44 | Marinas | 36 | $1,295,761 | 6.4% |
| 45 | Offices of All Other Miscellaneous Health Practitioners | 128 | $360,152 | 7.2% |
| 46 | Other Direct Selling Establishments | 106 | $428,754 | 7.0% |
| 47 | Other Building Material Dealers | 82 | $551,863 | 6.6% |
| 48 | Snack and Nonalcoholic Beverage Bars | 169 | $263,266 | 7.1% |
| 49 | Automotive Body, Paint, and Interior Repair and Maintenance | 103 | $415,088 | 7.4% |
| 50 | Industrial Machinery and Equipment Merchant Wholesalers | 91 | $460,341 | 6.5% |