Best Small Business Loans in Florida in 2026
Small business loans in Florida can help local businesses purchase equipment, commercial real estate, inventory and more.
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- No. 3: Florida’s national ranking for business applications per capita
- 664,407: Business applications filed in the latest 12-month period
- +7.1%: Year-over-year growth in applications
- 24.1%: Share of Florida employer businesses owned by women
Best small business lenders in Florida
| Lender | Best for | Amount | Term | Time in business | |
|---|---|---|---|---|---|
|
Emergency loans | Up to $50k | Up to 12 months | Must have been established before disaster event | |
|
Commercial auto financing | Up to $750k | Not specified | Not specified | |
|
Flexible funding |
$2k – $250k |
6 to 24 months | 12 months | |
|
Minorities |
$10k – $250k |
36 to 84 months | 18 months | |
|
Startups | Up to $250k | 3 to 24 months | 3 months | |
|
Borrowers denied traditional funding |
$500 – $10M |
12 to 180 months | Not specified | |
|
Commercial real estate/504 loans |
$1M – $15M |
Up to 300 months | 24 months |
State-wide loan options for Florida small businesses
Best for: Emergency loans – Florida Commerce
- Starting rate
- Interest-free
- Interest-free business loans for emergencies
- Low minimum credit score requirement
- Available for businesses with up to 100 employees
- Size limit could impact growing businesses
- Business must be impacted by natural disaster to qualify
- Short repayment term
The Florida Small Business Emergency Bridge Loan provides interest-free emergency business loans to eligible businesses within specific Florida counties. These bridge loans are designed to cover short-term funding gaps between a major catastrophe and when a company can secure long-term recovery resources. Your business must have 100 or fewer employees to qualify.
Best for: Commercial auto financing – MIDFLORIDA Credit Union
- Starting rate
- Not specified
- Loan can be applied to new or used vehicles
- Funding can be used to buy one vehicle or a whole fleet
- Fleet vehicle line of credit allows for faster, easier vehicle shopping
- Lack of transparency in eligibility terms
- Available only in specified counties
- Loans capped at just under $750,000
MIDFLORIDA Credit Union offers a range of business financing options, including business vehicle loans that can be used to purchase a single car or truck or an entire fleet. The business vehicle loan can be applied to new and used vehicles, though loan amounts are capped at just under $750,000.
Best for: Flexible funding – American Express Business Line of Credit
- APR
- Starting at 0.55%
0.55% – 1.55% of the original principal loan amount is charged monthly during the loan term, along with a portion of the principal.
- Flexible line of credit allows multiple draws
- Low starting interest rate
- No prepayment penalty
- One year required in business
- Multiple installment loans can be more unwieldy than one lump sum
- Each loan requires a personal guarantee
Sometimes, small businesses don’t have immediate need for a set amount of funding — but could benefit from quick access to a flexible funding pool. For those who’ve already been in business for at least a year (and whose businesses are earning an average of at least $3,000 monthly), the American Express Business Line of Credit offers just this kind of flexibility.
Once qualified for up to $250,000 in funding, entrepreneurs will be able to draw from the line of credit in the form of individual installment loans with terms of 6, 12, 18 or 24 months. However, each loan carries separate fees and interest rates and requires a personal guarantee.
→ Check out LendingTree’s full review of American Express’ Business Line of Credit
Best for: Minorities – Central County Community Development Corporation
- Starting rate
- 5.50%
- Flexible payments to match your cash flow
- Offers pre-loan counseling
- Loans as small as $10,000 available
- Priority is given to Broward, Palm Beach and Miami-Dade counties
- Processing time from application to closing can take up to 60 days
- Collateral required — including real estate on large or high-risk loans
Central County Community Development Corporation’s Small Business Loan Fund (SBLF) is a Community Development Financial Institution (CDFI) and nonprofit lender focused on helping low-income, minority and women entrepreneurs access the tools, resources and financing they need to grow and expand their businesses. Pre-loan counseling is available to help guide you through the process of submitting an application.
Best for: Startups – Fundbox
- APR
- Starting at 4.66%
12- to 52-week terms, or up to 104 weeks in certain limited situations
- Rapid funding
- Short required time in business
- Low minimum required credit score
- Smaller loan caps
- Fast repayment term
- Weekly, not monthly, repayments
Startup business loans can help newer businesses get off the ground — and Fundbox is designed for entrepreneurs. Offering lower loan amounts and shorter terms, these loans can help new business owners get the capital they need to cover upfront costs, fund a payroll gap or grow their enterprise. Loans can be funded in just a few days, and repayment terms cap out at 52 weeks. It’s important to note, though, that the loans are repaid weekly, not monthly, which may create cash-flow strain for some small business owners.
→ Check out LendingTree’s full review of Fundbox
Best for: Borrowers denied traditional funding – LiftFund
- Starting rate
- 0.00%
- Offers consultation services, networking events and entrepreneurship programs
- Can help build business credit
- Collateral required on all loans
- Six months of positive credit history required
LiftFund, a nonprofit Community Development Financial Institution (CDFI), offers funding geared towards small businesses that may not have qualified with more traditional institutions. Along with loans of up to $10,000,000, the organization also offers resources for entrepreneurs including personalized financial coaching and training workshops — but collateral is required on all loans.
Best for: Commercial real estate/SBA 504 loans – Live Oak Bank
- Starting rate
- Not specified
- High SBA 504 loan amounts (up to $15,000,000)
- SBA Preferred Lender with faster processing
- Low down payment requirements (typically 10%)
- Long business history required
- No physical branch locations
- Most loans include an annual service fee
Live Oak Bank stands out for offering higher SBA 504 loan amounts than most lenders, with funding up to $15,000,000 to support commercial real estate purchases, renovations and large equipment investments.
As an SBA Preferred Lender, Live Oak Bank can typically process and fund SBA loans three to four weeks faster than standard SBA lenders. Businesses needing quicker funding may also consider the Live Oak Bank Express loan, which offers up to $350,000 with an expedited closing process.
What to know about small business lending in Florida
Small businesses in Florida can connect with local and nationwide lenders to get the funds they need to grow and expand their companies. You can apply for small business financing in Florida through a traditional bank, credit union, online lender or governmental agency.
There are also Florida small business grants to help startups, women entrepreneurs and minority business owners access capital for their businesses. Eligible business owners might also qualify for a tax credit within the state.
Where to get small business loans in Florida
Local banks and credit unions
Many local Florida banks and credit unions offer a range of business financing options, including small business loans, business vehicle loans, business lines of credit and more. This option can be especially convenient for Floridian entrepreneurs who already have a local bank account, but you can also shop around for an institution offering attractive incentives or bonuses for new applicants.
Banking with a local institution with physical branch locations gives you the opportunity to interact with banking professionals in person. However, each bank will have its own terms, eligibility criteria and specific range of available products, so it’s worth shopping around.
The U.S. Small Business Administration (SBA) backs SBA loans, making them less risky for lenders (and thus easier for businesses to qualify for). The SBA 7(a) loan is ideal for everyday business purposes, while the SBA 504/CDC loan is more commonly used for larger assets like real estate or equipment. While these programs are federal, Florida’s State Small Business Credit Initiative (SSBCI) also works to support small businesses in the Sunshine State.
Small business development centers in Florida
A Small Business Development Center (SBDC) provides individualized support and technical assistance at every stage of business development — from your first idea to a nationwide expansion. You can receive help implementing new technologies, improving your business strategy and operations, enhancing marketing efforts, increasing productivity and more.
While the SBDC doesn’t fund loans, your local branch can help you find affordable government loans for your small business.
Enter your business zip code to find an SBDC location near you.
Online lenders
Working with online lenders is a convenient way to increase the number of service providers available to you without having to travel outside of your town or region. Online lenders tend to have higher approval rates than local banks do, according to the Federal Reserve, but their satisfaction rates are far lower. Some customers report less favorable terms and higher interest rates with online lenders — though funding is often faster, which may be an attractive incentive for some small business owners.
Other funding options for your small business in Florida
Florida’s government and business community are committed to helping small businesses grow and succeed. Here are some grants, tax credits and coaching programs to consider, as well as how to utilize resources offered by your local Small Business Development Center.
Small business grants in Florida
Here are some grants for small businesses to help you make a difference in your community.
- Targeted Marketing Assistance (TMAP): TMAP will award funds to help minority, rural and agritourism businesses in Florida improve their marketing. Nonprofits and independently owned businesses with gross revenue below $1.25 million are welcome to apply.
- Florida High Tech Corridor Matching Grants Research Program (MGRP): Partnering with the University of Central Florida and the University of South Florida, MGRP awards grants for applied research between faculty, students and industry in 23 Florida counties.
- Florida Urban and Community Forestry Grants: With funds from the U.S. Forest Service, the Florida Forest Service assists local communities, nonprofit organizations and educational groups in starting or improving local urban forestry projects.
Tax credits for Florida small businesses
- Brownfields Redevelopment Act: Eligible businesses with a Brownfield Site Rehabilitation Agreement could receive a Job Bonus Tax Refund of up to $2,500 for each new job they create, in addition to other program incentives.
- Rural and Urban Job Tax Credit Programs: These tax credits are awarded to eligible businesses creating rural or urban jobs within qualified areas throughout Florida. The Rural Job Tax Credit ranges from $1,000 to $1,500 per qualified employee. The Urban Job Tax Credit ranges from $500 to $2,000 per qualified job.
- Community Contribution Tax Credit Program (CCTCP): The CCTCP encourages Florida business owners to donate toward community development and housing projects for low-income residents. Businesses can take a tax credit of up to 50% of the donation’s value.
Coaching and mentorship for Florida businesses
Entrepreneurs can network and learn from local coaching and mentorship programs in their community.
- Prospera: This nonprofit organization provides bilingual assistance to entrepreneurs to help establish or expand their businesses. Small business owners can receive free support with legal and accounting assessments, creating a business plan, marketing and sales planning, branding development and more.
- weVENTURE: Women entrepreneurs in the Space and Treasure Coast areas can utilize weVENTURE’s Women’s Business Center Program with free one-on-one consultations and low- and no-cost business classes.
- FAU Business Mentoring Program: Offered by Florida Atlantic University, the FAU Business Mentoring Program helps bring students and business professionals together to share ideas and network. Participants develop interviewing and networking skills, oral and written presentation skills and experience solving complex problems.
- SCORE Business Mentoring: SCORE provides free small business mentoring and workshops to entrepreneurs in Florida communities. There are 19 chapters across the state, and many free events are offered live online so you can participate from anywhere.
How to qualify for a Florida small business loan
While business loan requirements vary by lender and loan type, here is a general guideline of what you might need when applying for a Florida business loan.
Credit score
You typically need a FICO Score of 670 or higher to get the best business loan interest rate. Boosting your scores before applying can improve your chances of securing the most competitive loan offer. Or, you can consider a business loan for bad credit.
Business plan
A business plan outlines your company’s goals, including marketing strategies and financing plans. A detailed business plan can reassure lenders that you will use their money responsibly.
Annual revenue
Many lenders require a steady income stream to qualify for small business financing. Annual minimums can range from $30,000 to $480,000 or higher, although some lenders may accept lower earnings for startups. If your revenue doesn’t allow you to qualify for a small business loan in Florida, consider applying for microloans or business credit cards to cover your immediate needs.
Time in business
Online lenders typically require companies to have been in operation for six months to one year to qualify for a business loan. Traditional banks usually want to see an established track record of two or more years.
Collateral and/or personal guarantee
Some lenders offer secured business loans by requiring collateral to reduce their risk. Collateral can be real estate, equipment or a cash down payment. The lender can seize your collateral as a form of payment if you default on the business loan. A personal guarantee means you’re personally responsible for repaying the loan out of pocket, regardless of what happens with your business.
How to apply for a small business loan in Florida
Here are the general steps to apply for a small business loan in Florida.
Step 1: Decide what type of business loan you need
You have multiple options when it comes to types of small business loans. Some small business loans have limitations or restrictions on how to spend the funds, so be sure to pick one that matches your needs.
Step 2: Determine your eligibility
Review the lender’s criteria on their website to ensure it’s a good match. Boost your credit score before applying to improve your chances of securing a competitive rate.
Step 3: Compare small business lenders
You can apply for small business financing via a traditional bank, online lender, government lender or peer-to-peer lending. Watch out for lenders offering no-credit-check business loans or a deal that sounds too good to be true. Reading small business lender reviews before applying can help avoid scams.
Step 4: Gather required documents
Save time by gathering essential documents in advance, such as your business plan, business tax ID number, business licenses, personal and business tax returns and business financial statements. Some lenders may also require a certificate of good standing before approving your loan application.
Step 5: Submit and review offers
Most banks and lenders allow you to submit a small business loan application online, although some banks may require an in-person appointment or phone call. Review all loan offers to pick the best deal for your needs.
How to compare Florida business loans
Here are some key factors to consider when comparing small business loans in Florida:
- Interest rates. Start by looking for a loan with a low interest rate. It’s also generally best to pick a fixed interest rate to avoid any unexpected rate increases in the future.
- Fees. Check the loan agreement for additional fees, such as origination fees, late charges and prepayment penalties. Add these to the loan amount to ensure the overall cost is worth it.
- Terms. Some small business loans require daily or weekly repayments. Make sure your business budget can handle the repayment schedule.
- Funding speed. Online lenders often approve and fund small business loans within a few days. In comparison, traditional banks or SBA loans can take several weeks or months to scrutinize your application details. If you can wait, you will likely get better rates and terms with a traditional bank or SBA lender.
Frequently asked questions
You typically need a good to excellent credit score and strong finances to qualify for a small business loan in Florida. Most lenders also want to see your business in operation for at least six months.
While there are financing options for startups and bad-credit borrowers, these loans often have higher interest rates and less flexible terms. If you struggle to qualify for small business financing, consider other funding options, such as a personal loan for business or business crowdfunding.
Finding the best small business loan depends on your business type, funding needs and eligibility criteria. Consider a business line of credit if you want access to revolving funds or a short-term business loan for low-cost projects or seasonal dips in income. A business acquisition loan could help buy an existing business or franchise. And if you need help purchasing supplies, inventory financing uses the inventory as collateral to help secure the loan.
Check your local or state government and business community sites for up-to-date opportunities for Florida small business owners. For example, check out Open My Florida Business for tips and guidance on how to start a business in Florida.
For other opportunities in Florida, visit USA.gov and the U.S. Economic Development Administration.
Our methodology: How we chose the best small business loans in Florida
We reviewed leading lenders with a focus on Florida financing. To make our list, lenders must meet the following criteria:
- Minimum credit score: Personal credit score requirements of 680 or lower.
- Rates and terms: We prioritize lenders with a range of loan amounts, competitive rates, limited fees, flexible repayment terms and APR discounts.
- Repayment experience: We consider each lender’s reputation and overall business practices. We favor lenders that report to all major credit bureaus, offer reliable customer service and provide extra support to customers, like free business coaching.