GoSBA’s Top 50 Florida SBA Lenders in 2024
Overview of SBA Loans in Florida
Florida is ranked fourth as one of the most successful economies in the United States. If Florida were a country, it would rank as the 17th largest economy in terms of GDP. Key industries in Florida include agriculture and tourism, which contribute over $1 trillion to Florida’s GDP. The tourism industry plays a major role in the state’s economy, driven by attractions like Walt Disney World, which generates billions of dollars annually.
According to the U.S. Small Business Administration Office of Advocacy, there are 2.5 million small businesses established in Florida, employing 3.3 million people. In FY 2023, Florida SBA loan providers funded 3,691 businesses, with a total loan volume of $1.6 billion. Florida’s popular industries include hotels, restaurants, child daycare, dental offices, and physician centers.
Finding the Best Florida SBA Loans
Finding the best and most affordable business loans can be challenging, but we make it easier by comparing all the top SBA lenders in Florida for you. GoSBA Loans helps businesses secure the financing they need to thrive—whether for purchasing equipment, refinancing high-interest loans, buying commercial property, or financing building improvements. After reading our analysis, click “Apply Now” and let us match you with the best SBA loan providers in Florida.
Challenges in Accessing SBA Loans in Florida
One of the significant challenges that small businesses face is access to affordable financing. The top SBA lenders in Florida include major financial institutions like Live Oak, SunTrust, Wells Fargo, Newtek Small Business Finance, TD Bank, Regions Bank, BankUnited, Seacoast National, First Home, and JPMorgan Chase. These ten lenders funded 1,964 businesses in Florida, with a combined loan volume of $625 million. However, just because these lenders are the most popular does not necessarily mean they are the right fit for every industry or business size. Many small businesses may find better success with smaller, specialized SBA lenders.
How GoSBA Loans Helps Florida Small Businesses
At GoSBA Loans, we understand the struggle of finding the best and cheapest SBA loans for your business. Our unique approach circulates your loan application to 33 of the top 100 SBA lenders in Florida, increasing your chances of approval. We make lending for small businesses easier, faster, and more affordable. Below is our official ranking for the top 50 Florida SBA lenders in 2024.
Top 50 Florida SBA Lenders in 2024
Bank Name |
Amount Funded |
Loans Funded |
|---|---|---|
| Bank of America, National Association | $79,723,600 | 186 |
| BayFirst National Bank | $59,623,900 | 306 |
| Celtic Bank Corporation | $23,472,100 | 65 |
| Cadence Bank | $22,485,000 | 66 |
| Berkshire Bank | $20,619,000 | 13 |
| Byline Bank | $18,670,000 | 17 |
| City National Bank of Florida | $17,940,000 | 28 |
| BankUnited, National Association | $13,057,000 | 17 |
| Amerant Bank, National Association | $12,264,400 | 6 |
| Cogent Bank | $12,092,800 | 19 |
| Bank Five Nine | $10,598,500 | 13 |
| Colony Bank | $10,477,000 | 41 |
| Citizens Bank | $10,015,800 | 23 |
| Capital One, National Association | $8,861,300 | 14 |
| Banesco USA | $8,000,000 | 2 |
| Climate First Bank | $7,649,400 | 11 |
| Centennial Bank | $7,391,000 | 9 |
| Comerica Bank | $6,852,200 | 7 |
| Bank of Central Florida | $6,104,000 | 7 |
| American Momentum Bank | $4,674,000 | 4 |
| Community Bank & Trust-West Georgia | $4,460,000 | 3 |
| Busey Bank | $3,595,000 | 3 |
| 1st Financial Bank USA | $3,100,000 | 2 |
| Achieva CU | $2,783,900 | 1 |
| Access Bank | $2,675,600 | 1 |
| Citibank, N.A. | $2,437,000 | 5 |
| Central Bank | $2,248,000 | 5 |
| CDC Small Business Finance Corporation | $1,890,000 | 15 |
| Bank OZK | $1,838,000 | 8 |
| CRF Small Business Loan Company, LLC | $1,630,000 | 6 |
| Barwick Banking Company | $1,618,400 | 5 |
| Bankwell Bank | $1,390,000 | 1 |
| Community First Bank, Inc. | $975,300 | 2 |
| Black Business Investment Fund Inc. | $850,000 | 4 |
| Commerce Bank | $850,000 | 1 |
| Bank of Clarke | $690,000 | 1 |
| American Bank | $600,000 | 2 |
| BankVista | $593,200 | 2 |
| Community National Bank & Trust | $561,000 | 1 |
| Community Bank of Mississippi | $533,900 | 3 |
| Columbia Bank | $495,000 | 1 |
| CIBC Bank USA | $469,000 | 2 |
| ConnectOne Bank | $464,000 | 1 |
| Coastal States Bank | $430,000 | 1 |
| Capital Bank, National Association | $410,000 | 1 |
| Bell Bank | $400,000 | 2 |
| Craft Bank | $355,500 | 1 |
| Crews Bank and Trust | $117,500 | 1 |
| Adelphi Bank | $75,000 | 1 |
| Citizens Bank, National Association | $75,000 | 1 |
Leading Florida SBA Lenders by Loan Volume
Analyzing the table above, Bank of America, National Association leads the way in Florida with the highest loan volume, funding over $79.7 million across 186 loans. This makes Bank of America an excellent choice for businesses looking for substantial financing in the state.
Top SBA Lenders by Number of Loans Funded
BayFirst National Bank stands out as the top SBA lender in Florida by the number of loans funded, providing 306 loans totaling over $59.6 million. This indicates that BayFirst National Bank is particularly active in SBA lending, making it a reliable choice for small business owners seeking an experienced lender.
Other Notable SBA Lenders in Florida
Cadence Bank and Celtic Bank Corporation are also significant players in the Florida SBA lending market. Cadence Bank funded 66 loans totaling $22.4 million, while Celtic Bank Corporation funded 65 loans with a loan volume of $23.4 million. These banks are ideal for small business owners looking for moderate-sized loans from established lenders.
For businesses looking for smaller loans, institutions like Citizens Bank, Comerica Bank, and Banesco USA provide various options. Their focus on smaller loan amounts makes them suitable for startups and small businesses seeking accessible financing.
Why Choose GoSBA Loans for SBA Loans in Florida?
Partnering with GoSBA Loans provides applicants with access to a wide array of SBA lenders in Florida. We help match you with the lender that suits your business needs, taking into account loan amounts, approval criteria, and loan terms. By working with us, you’ll gain access to a network of lenders, ensuring that your application reaches the right banks at the right time, ultimately increasing your likelihood of success.
Benefits of SBA Loans for Florida Small Businesses
Whether you’re a new startup or an established small business, securing an SBA loan can help you expand operations, purchase equipment, or boost working capital. Florida’s diverse economic base and thriving entrepreneurial ecosystem provide a unique opportunity for small business owners to succeed, and we’re here to help you every step of the way.
Ready to Apply for an SBA Loan in Florida?
If you’re ready to find the best SBA lenders in Florida, contact us to begin your journey. Our team at GoSBA Loans is committed to helping your small business secure the financing it needs to grow and thrive in 2024 and beyond.
