GoSBA’s 50 Best Miami SBA Lenders In 2024
Introduction to Miami SBA Loans
The U.S. Small Business Administration (SBA) Miami District Office serves around 24 different counties, which have a combined population base of nearly 400,000 residents. This multi-county service area is a major U.S. tourism hub and is the top state in the cruise industry. Miami’s economy is diverse, with international trade, manufacturing, real estate, aerospace, life sciences, and financial services playing key roles in driving growth.
Finding the Best Miami SBA Lenders
Finding the best and most affordable business loans has always been a challenge, so we make it easier by comparing all the best SBA lenders in Miami for you. After reading our analysis, click “Apply Now” to get matched with the best SBA loan providers in Miami.
Overview of Miami SBA Loans in 2024
GoSBA Loans is proud to announce the updated rankings for the 50 Best SBA Banks providing SBA loans in Miami in 2024. As one of the top 10 cities for small business entrepreneurs, Miami SBA loan providers financed 2,498 businesses valued at over $1.1 billion in FY 2023. This significant investment has helped Miami maintain its position as a thriving center for small business innovation and growth.
Challenges in Securing SBA Loans in Miami
One of the biggest challenges that small businesses face is access to affordable financing. Top lenders signing SBA-backed loans in Miami include larger banks like JPMorgan Chase and Wells Fargo, as well as smaller players such as Celtic Bank and First Home Bank. These banks often have strict underwriting criteria, which can make qualifying for loans challenging. As a result, many small businesses prefer working with smaller and more aggressive SBA lenders in Miami. Applicants who apply for an SBA loan with GoSBA Loans benefit from having their loan applications circulated automatically to 33 of the top 100 Miami SBA lenders.
Top Miami SBA Lenders by Loan Volume and Loan Units Funded
When analyzing the table of the top Miami SBA lenders, Newtek Bank, National Association, stands out as the top lender by loan volume, funding over $36.7 million across 46 loans. BayFirst National Bank performed impressively as well, funding 42 loans with a total value of $5.65 million. JPMorgan Chase Bank funded 35 loans worth $7.72 million, making it one of the leaders in terms of loan units funded. Readycap Lending, LLC also contributed significantly, issuing 32 loans worth $6.92 million. These figures demonstrate the diverse options available for small businesses seeking SBA loans in Miami, ranging from larger national banks to specialized lenders that cater specifically to small business needs.
GoSBA’s Official Ranking: 50 Best Miami SBA Lenders in 2024
Below, we present GoSBA’s official ranking of the 50 Best Miami SBA Lenders in 2024:
Bank Name |
Amount Funded |
Loans Funded |
|---|---|---|
| Amerant Bank, National Association | $3,100,000 | 1 |
| Banesco USA | $3,000,000 | 1 |
| Bank Five Nine | $5,000,000 | 1 |
| Bank of America, National Association | $9,646,500 | 25 |
| BankUnited, National Association | $1,658,000 | 3 |
| BayFirst National Bank | $5,652,200 | 42 |
| Byline Bank | $760,000 | 2 |
| Cadence Bank | $2,362,000 | 9 |
| Capital One, National Association | $300,000 | 1 |
| CDC Small Business Finance Corporation | $450,000 | 2 |
| Celtic Bank Corporation | $504,800 | 4 |
| Centennial Bank | $748,000 | 2 |
| Citizens Bank | $784,700 | 2 |
| City National Bank of Florida | $3,715,000 | 5 |
| Colony Bank | $450,000 | 3 |
| Dogwood State Bank | $1,738,500 | 3 |
| Enterprise Bank & Trust | $3,150,000 | 1 |
| Fifth Third Bank | $135,000 | 2 |
| First American Bank | $700,000 | 1 |
| First Bank of the Lake | $300,000 | 2 |
| First Commonwealth Bank | $2,158,700 | 1 |
| First Internet Bank of Indiana | $7,944,000 | 2 |
| First-Citizens Bank & Trust Company | $752,000 | 1 |
| GBank | $1,498,900 | 1 |
| Hancock Whitney Bank | $100,000 | 1 |
| Hanover Community Bank | $1,625,000 | 6 |
| Harvest Small Business Finance, LLC | $1,487,500 | 1 |
| Heritage Bank, Inc. | $150,000 | 1 |
| iTHINK Financial CU | $105,000 | 1 |
| JPMorgan Chase Bank, National Association | $7,724,000 | 35 |
| Lendistry SBLC, LLC | $603,100 | 6 |
| Live Oak Banking Company | $4,790,000 | 4 |
| Locality Bank | $1,024,800 | 2 |
| Meridian Bank | $570,000 | 2 |
| Midwest Regional Bank | $8,511,000 | 5 |
| Newtek Bank, National Association | $36,769,500 | 46 |
| Northeast Bank | $1,961,600 | 13 |
| Ocean Bank | $7,984,100 | 5 |
| Old National Bank | $156,500 | 1 |
| Pacific National Bank | $500,000 | 1 |
| Paradise Bank | $1,520,000 | 4 |
| PNC Bank, National Association | $70,000 | 2 |
| Readycap Lending, LLC | $6,920,800 | 32 |
| Regent Bank | $450,000 | 1 |
| Seacoast National Bank | $500,000 | 1 |
Find the Right SBA Lender in Miami for Your Business
Whether you’re a new startup or a growing business, securing the right financing is essential. The lenders listed above offer various options to help small businesses succeed in Miami’s dynamic economy. Working with an experienced SBA loan broker like GoSBA Loans ensures that your loan application gets in front of the lenders most likely to fund your business.
Apply for an SBA Loan Today
Apply today to get connected with the best SBA lenders in Miami and secure the funding you need to take your business to the next level. The process is simple, and GoSBA Loans will help match you with the right lender based on your unique business needs.
Apply Now to see which SBA lender is the best match for your business needs.
Why Choose GoSBA Loans?
GoSBA Loans is committed to simplifying the SBA loan application process for businesses in Miami. By working with us, you get access to a network of lenders that have a proven track record of supporting small businesses. Whether you’re looking for competitive interest rates, a streamlined approval process, or flexible loan terms, GoSBA Loans is here to help you find the best SBA lender in Miami.
Conclusion
Securing an SBA loan can be the key to unlocking growth opportunities for your business. With the right lender by your side, you can access the capital you need to expand, hire, and innovate. The Miami SBA lenders listed above have demonstrated their commitment to supporting the small business community, making them excellent options for entrepreneurs in the region. Let GoSBA Loans assist you in finding the best SBA lender in Miami for your business today.
