Florida Small Business Loans

Looking for help getting a small business loan in Florida? Get the most important resources here.

Small Business Loans in Florida

Do you need a loan to purchase a small business? Or do you need additional funds to grow your existing business? No matter why you need a small business loan, there are resources available in Florida. There are many ways to obtain loans, from private lending institutions to government agencies. Whether you need short term funding or want to buy a business, let’s cover some options for small business loans.

Government Agencies

The US Small Business Administration offers many programs to small business owners—for loans, financing and bonds. They can help you get a third party lender, guarantee a bond, or help you locate venture capital. In 2013, the SBA delivered more than $30 billion in loan guarantees. The Florida SBA not only provides Florida small business loans, but it also works to provide counseling, capital, contracting, disaster assistance, and advocacy. If you are in need of financial assistance for your business, you can find the Florida SBA here.

Private Lenders

Banks may be able to offer you a line of credit or a small business loan—if you do personal banking at a Florida bank, start there; you may be able to get a great interest rate since they are familiar with your financial history. But, of course, it is also a good idea to check rates with competitors. Most banks have a small business specialist, so start there. It’s important to note that getting a loan to start a business from scratch can prove difficult. They are normally more apt to loan money for purchasing a business that has proven successful. Having the expertise of a qualified business broker, like Emerald Coast Business Brokers, on your side can increase your chances of qualifying a small business.

Outside Investors

Outside investors would be anyone with the means and money to invest in your business. An investor differs from a partner because an investor gives you money in the hopes that you will use it to grow your business and repay them a percentage where a partner takes an interest in the day-to-day running of your business. An investor is looking for you to work to repay them, while a partner is willing to work with you. Money from an outside investor is essentially a private loan. Finding outside investors may be difficult, but if you network and talk with your contacts, you may find someone interested in providing investment funds to your small business—this is where a Business Broker can come in handy.

Additional Resources

For more resources for Florida small business loans, check out these helpful links:

Florida Economic Information
Florida Department of Financial Services