Florida is listed fourth as one of the most successful economies in the United States. If Florida were a country of its own, it would rank as 17th in GDP. Their famous industries include agriculture and tourism that had contributed $1 trillion in Florida’s GDP. Moreover, Florida’s tourism industry plays the biggest role in contributing to the state’s economy for housing Walt Disney World that generates more than 60 billion dollars annually.
According to the U.S. Small Business Administration Office of Advocacy, there are 2.5 million small businesses that are established in Florida, that employ 3.3 million people. In FY 2019, Florida SBA loan providers funded 3,372 businesses for total Florida SBA loan volume of over $1.6 billion. Florida’s popular industries include hotels, restaurants, child day care, dentist offices, physician centers.
One of the challenges small businesses face is access to affordable financing. The highest ten lenders signing SBA-backed loans in Florida are Live Oak, SunTrust, Newtek Small Business Finance, First Home, TD Bank, Wells Fargo, Bank of America, Paradise Bank, The Huntington National Bank, and BankUnited. These ten lenders have funded 1,672 businesses with a loan volume of $594.5 million in total. However, just because these ten are the most popular, it doesn’t mean these are the right lenders for your industry and your business size. After reading our analysis, please click apply now and we’d be happy to match you with the best SBA loan providers in Florida.
Here at GoSBA Loans, we understand the struggle of finding the best and cheapest business loan for your business. We are best at accommodating businesses looking for capital, purchasing equipment, refinancing high-interest loans, and those who are interested in buying commercial property or financing building improvements. We make lending loans for small businesses to have an easier, faster, and more affordable process.
GoSBA Loans is proud to announce the top 50 Florida GoSBA Lenders in 2020:
|RANK||BANK||LOANS FUNDED||VOLUME FUNDED ($)|
|1||Live Oak Banking Company||64||$119,996,000|
|3||Newtek Small Business Finance, Inc.||108||$62,384,400|
|4||First Home Bank||181||$62,176,000|
|5||TD Bank, National Association||652||$61,355,200|
|6||Wells Fargo Bank, National Association||337||$60,189,000|
|7||Bank of America, National Association||59||$41,117,500|
|9||The Huntington National Bank||76||$35,454,500|
|10||BankUnited, National Association||38||$33,957,100|
|11||CenterState Bank, National Association||41||$33,581,400|
|12||Seacoast National Bank||78||$32,207,700|
|15||JPMorgan Chase Bank, National Association||152||$26,365,400|
|17||The Bank of Tampa||23||$22,957,000|
|19||Stearns Bank National Association||87||$22,433,500|
|20||Celtic Bank Corporation||54||$22,293,800|
|23||United Community Bank||27||$20,077,000|
|26||Valley National Bank||30||$17,809,500|
|27||Readycap Lending, LLC||21||$17,629,600|
|28||American Momentum Bank||21||$15,808,300|
|32||Midwest Regional Bank||23||$14,378,000|
|34||Fifth Third Bank||47||$13,801,600|
|35||Pacific Premier Bank||3||$13,589,000|
|36||Branch Banking and Trust Company||29||$12,841,800|
|38||First Financial Bank||8||$11,762,000|
|40||United Midwest Savings Bank, National Association||67||$11,722,000|
|43||Atlantic Capital Bank, National Association||15||$10,983,000|
|46||CRF Small Business Loan Company, LLC||18||$10,486,700|
|47||Axiom Bank, National Association||12||$10,375,000|
|48||Hancock Whitney Bank||21||$10,231,100|
|49||First-Citizens Bank & Trust Company||15||$9,882,000|
|50||PNC Bank, National Association||39||$9,847,000|
Sounds great? Click on apply now and we’ll match you with the best SBA loan providers in Florida.