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12 months in business
$15,000 monthly revenue
500+ FICO score
As the CEO of Sunwise Capital, headquartered in the heart of South Florida, I have a deep and personal connection to the vibrant business community here.
Understanding the unique challenges and opportunities that Florida businesses face daily has shaped our approach to financing. In “Discover Business Loans Florida – Sunwise Capital’s Best 7 Options For Florida Business Loans,” we explore tailored loan solutions designed to propel local businesses toward growth and success.
We highlight the top financing options available right here in our backyard, reflecting our commitment to supporting Florida’s entrepreneurial spirit. Join us as we explore these exclusive opportunities, each selected to meet the diverse needs of Sunshine State businesses and see how Sunwise Capital can help your business flourish in this dynamic economic landscape.
These small business loans include SBA loans, invoice factoring, lines of credit, and other loans available to Florida-eligible businesses.
The state of Florida has a thriving ecosystem for small businesses. It’s no secret that Florida is a great place to start a business because of its beautiful weather, large workforce, and low taxes.
According to WalletHub, Florida is the fourth-best state in the country to start a business. Floridians will respectfully disagree.
Jacksonville, Tampa, Orlando, and Miami-Dade are just a few examples of thriving and expanding cities in the Southeast that attract startups from various industries.
As a result, many traditional financing lenders and online lenders are interested in funding businesses in Florida. South Florida is experiencing an explosion of financial services companies moving their headquarters to Palm Beach and Miami.
Does a business loan make sense for your Florida enterprise? Are you looking to invest in a new employee, piece of equipment, or office space?
Whether for business expansion or expenses, loans to businesses are available.
Sunwise Capital is an online alternative lender that offers many types of loans to Florida owners. We help companies grow and expand, offering multiple financing solutions with highly competitive interest rates and generous repayment terms.
Sunwise Capital Headquarters in Deerfield Beach, FL Providing access to capital since 2010
We stand ready to support all Florida small to medium-sized businesses.
Call 888.456.9223
Sunwise Capital’s bare-bones minimum eligibility requirements are:
Learn how Florida-based entrepreneurs are getting the types of funding solutions they need to fund their companies despite recent substantial economic injury due to local and global economics.
The U.S. Small Business Administration Office of Advocacy states that 98.9% or 2.3 million enterprises in Florida are small businesses. These State of Florida small companies employ 3.1 million individuals or just over 43% of the workforce.
Sunwise Capital provides access to capital to those businesses.
We provide eligible companies with a financing option to help Florida’s economy. From Palm Beach, Ft. Lauderdale, Miami-Dade County, and the Keys in South Florida to Tampa, Tallahassee, Orlando, and Jacksonville in North Florida, Florida entrepreneurship is booming.
Our one-page loan application and same-day approvals mean borrowers can get their loan proceeds in 24 hours or less.
The best Florida business loans provide your enterprise with the funds it requires when it is needed. It should be inexpensive and contribute to the company’s continued growth. It should, of course, be one for which you are qualified. The following are some of the top Florida loan options:
Loans through the SBA provide small companies with attractive rates and terms. Sunwise Capital works directly with SBA lenders. These relationships enable us to help guide you through the myriad of choices and help you secure the best and lowest rates, terms, and loan guarantees. We are not limited to just Florida banks.
These commercial loans are financing options, including the Commercial Real Estate Loans through the Small Business Administration program, the SBA 7a Loan Program (SBA microloans), and the SBA 504 program.
The 7(a) programs offered by the SBA provide working capital and financing for companies purchasing equipment and inventory or are looking to grow and expand.
Microloans offered by the Small Business Administration have a maximum loan amount of $50,000. This SBA product provides money for inventory, hard assets, or working capital.
The funding option is not a bridge loan program. The SBA offers a pilot program designed as a bridge loan (and we can help you with the bridge loan application).
You can also check out America’s SBDCS (Small Business Development Center).
The 504 loans typically require the purchase of a fixed asset, and these assets are either property or materials. Look for these SBA to partner with the CDC or Community Development Companies and banks.
The SBA application and documentation process can be lengthy.
You must have:
The starting interest rate for SBA loans is currently in the mid-single digits. However, your FICO score must reflect a 680 or better.
Less than 7 Years vs. More Than 7 years
Sunwise Capital provides hands-on customer service to help guide you and help you navigate every step of the process.
We work directly with SBA banks and the best banks for small business loans in Florida. We can offer a pre-qualification for SBA loans in five minutes with funding in five to ten days. We do not have the same restrictions as your local bank or Florida credit union.
Florida loans range from $50,000 to $5M for real estate acquisitions, with terms up to 25 years.
Are you renting? As a small business owner, why not make a real estate investment into a commercial property and take the savings to grow your business?
Let us put our SBA team to work for you.
A merchant cash advance is possible if you own a business that takes credit or debit cards. The MCA lender will give you an advance against future sales based on your existing sales history with this financing. It’s not the cheapest way to borrow money, but being approved is often fast and straightforward. This option is best for those with credit challenges.
Do you send invoices to other companies? You can obtain the funds you require through invoice financing or invoice factoring. Those invoices will be a significant source of qualification in both circumstances. Although the lender may perform a credit check, a good credit score is usually optional for this type of funding.
If you need to buy or upgrade company equipment, consider equipment financing or equipment leasing options. If you own the equipment outright, you can receive finance using it as security. This form of financing might help you keep your cash flow while providing the tools you need to expand.
The benefit of this type of financing is that it allows you to purchase what you need without using existing working capital. The difference between buying and leasing is the owner of the equipment.
You would buy over a lease because of the tax advantages in Section 179 Tax Deduction (talk to your tax advisor or CPA) and improving your score with timely monthly payments.
Leasing offers some of the same advantages as well. The similarities and differences are similar to buying or leasing your car?
Speak to a tax professional to help decide the best option for you.
Do you qualify for Equipment Financing?
Established businesses looking for less than $150K
Established businesses looking for $150K+
Securing business loans in Florida with bad credit can be challenging, but several options can help you obtain the necessary funding to grow and sustain your business. One option is business loans Florida no credit check, which is designed to provide quick access to capital without the need for a traditional credit check. These loans are ideal for businesses with poor credit history but strong revenue and cash flow.
Another viable option is no doc business loans Florida, which require minimal documentation and are suitable for business owners who need fast funding without the hassle of extensive paperwork. These loans typically rely on your business’s financial health and revenue rather than your credit score, making them accessible to a broader range of applicants.
For small business owners specifically, small business loans Florida bad credit can be a lifeline. These loans are tailored to meet the needs of businesses with poor credit scores, offering flexible terms and conditions to help you manage your finances effectively. To determine your eligibility, lenders may look at alternative criteria, such as your business’s overall performance, cash flow, and future potential.
To better understand your financing options and repayment obligations, using a business loans Florida calculator can be incredibly helpful. This tool allows you to input various loan amounts, interest rates, and repayment terms to see how much you would need to pay monthly and overall. This calculator lets you make more informed decisions about which loan products best suit your business needs and financial situation.
With these options available, Florida businesses with bad credit can still access the necessary funding to drive growth and success. Always research and compare different lenders and loan products to find the best fit for your specific requirements.
Securing loans for your LLC in Florida can be straightforward, provided you understand the options available and prepare adequately. LLC loans in Florida can come from various sources, including traditional banks, online lenders, and credit unions. These loans can be used for various purposes, such as expanding your business, purchasing equipment, or managing cash flow. Florida-based LLCs often benefit from the state’s strong economic environment and support for small businesses. To improve your chances of approval, ensure that your business plan is comprehensive, your financial statements are up to date, and your credit score is in good standing. Whether you are a startup or looking to grow your established LLC, exploring different loan options and choosing the right lender can provide the financial boost your business needs to thrive.
You’re not alone if you’re searching for no-doc business loans in Florida. Many small business owners face the challenge of securing financing without the burden of extensive documentation. Fortunately, options are tailored for entrepreneurs in Florida, even those dealing with less-than-perfect credit. Small business loans in Florida for bad credit offer a lifeline, allowing you to access the funds you need to grow your business without the hassle of traditional lending requirements. Whether you need quick cash flow or want to expand your operations, these loan options can provide the flexibility and support to help your business succeed.
Agriculture
Auto Repair
Beauty & Wellness
Business Services
Chiropractic
Cleaning Services
Construction/Contractor
Daycare
Dental Practice
Electrical
Food Trucks
Gardening & Landscaping
Gym & Fitness
Healthcare & Medical
HVAC Plumbing
Retail
Restaurant
Trucking
Your Florida small businesses can take advantage of our BEST standard loan. Our loan options, with competitive rates and loan terms, including short-term loans, are designed for various purposes and company expenses.
If you do not qualify for SBA financing or bank lines, you can look at a Sunwise Capital business loan.
We are one of the few small business lenders guaranteeing that we will have the lowest rates. Our underwriting decisions and funding can be as fast as a few hours.
Our term loan amounts can range from $10,000 to $2M. Well-qualified Florida companies can receive up to $5 million.
Our term loans range from 3 to 18 months. This loan is ideal for inventory purchases, new employees, marketing, or advertising expenses.
A longer-term loan with a more detailed application reflecting a solid financial history qualifying for two years is available. This loan makes more sense if you consider more significant projects, business acquisitions, or expansion.
Our unsecured lines are perfect for those with a FICO score above 700.
Many businesses in Florida fail to qualify for a business loan from a local bank or credit union.
Whether you are a fledgling enterprise on the cusp of explosive growth or a well-established company, alternative lenders like Sunwise Capital are ready to help you with the capital to fuel your growth.
Are you able to? If so, do you meet the absolute minimum financial qualifications?
Next is your time in operation. Have you been running with an established business bank account for at least six months? If so, you meet the next minimum qualification.
Lastly, do you have a FICO score of at least 500 or better? It would be best to have no open bankruptcies, and any liens over $175,000 require a payment plan.
Are you looking for affordable business loans? If “Yes,” then let’s talk.
This small business financing is ideal, especially for startup loans for small businesses. The minimum requirement for approval is a strong personal FICO and a score of 700 or better.
That’s it – no time in business, no annual revenue. You must demonstrate personal income to support the loan payments.
The application process is easy, and funds are usually available within a month.
Loan amounts range from $20,000 to $200K. This revolving line comes in from business credit card(s).
The LOC has a starting interest rate often as low as 0% for the first 6 – 12 months. If you are a startup, this is probably your best, if not the only option.
Small company loans, particularly for Florida-based enterprises, are scarce. State governments provide most state-specific small business loan programs, and Florida’s state government primarily offers business financial aid in the form of small business tax credits.
A small business loan might mean getting funds to invest in that employee, equipment, or new location you’ve been dreaming about for years.
There are three small business loan choices in Florida for you to consider:
The notable difference between a business loan and a grant is that the loan is repaid, including principal, interest, and fees over a set period.
Small business grants provide you with capital without paying back the funds.
The idea of “FREE” money is very appealing.
Getting grant money is HARD.
W A R N I N G
“Most small businesses do not qualify for government grants,” warns the SBA on its website.
You will need a business plan to start.
Nonprofits, state, and local governments are the conduits for grant opportunities.
Over one-third of these Florida firms are minority-owned small businesses.
Women business owners represent about 8 percent of those companies. Women entrepreneurs should check out women’s business centers.
Sunwise Capital, as a woman-owned business, provides small business loans Florida for women.
An organization called Enterprise Florida, Inc. associates and partners with organizations to help secure funding options.
Enterprise Florida was born and created by The State Small Business Credit Initiative (SSBCI) through the Small Business Jobs Act of 2010 (the “Act”).
The goal is to help a small business secure the funding necessary for startup costs, cash flow financing, fees associated with franchises, machinery or tools, and inventory.
This program can even assist with an owner-occupied commercial building or facility.
Your ability to meet their conditions will ensure success with the program.
Minority- and veteran-owned businesses are about 9 % and 12 %, respectively.
Both the minority and veteran entrepreneur populations are critical to Florida’s business startup and economic development.
The Florida SBDC is a business resource for all company owners (from the startup to existing businesses).
They state “the only statewide provider of entrepreneurial and business development services.” The Florida SBDC Network plays a vital role in Florida’s economic development by assisting entrepreneurs in every stage of the business “lifecycle.”
The top industries in Florida include healthcare, construction, manufacturing, transportation accommodation (tourism industry), international trade, and food services (restaurants, etc.).
Veterans in Florida can look for an SBA loan. The program for Vets provides small business lending under the SBA Express program.
Seventy-three percent of all the SBA loans to veterans are for $350,000 or less.
To meet the qualifications as a veteran-owned company, 51% owned or controlled by:
Veterans (other than dishonorably discharged); Service-Disabled Veterans; Active Duty Military service member participating in the military’s Transition Assistance Program (TAP); Reservists and National Guard Members; or Current spouse of any Veteran, Active Duty service member, or any Reservist or National Guard member; or Widowed spouse of a service member who died while in service or of a service-connected disability
Although applications are not currently accepted, veterans should look to the Veterans Business Fund as an alternative to the SBA loan.
Get more information on why we provide the best loan program and funding to companies in Florida. FLORIDA SMALL BUSINESS RESOURCES
Aside from the limited Florida commercial programs the state government offers, several Florida small business financing programs can help small enterprises in the state.
The Florida state government offers venture capital and tax credit alternatives if you’re willing to go beyond small company loans for financial assistance.
Beyond the Florida small business loan choices we highlighted, here are some other programs to consider for your small business:
The easiest place to get a business loan is often through online lenders, as they typically offer streamlined application processes with quick approval times and less stringent requirements compared to traditional banks. Other accessible options include local credit unions and community banks, which may provide more personalized service and flexible terms, especially for small businesses within the community.
The size of the loan you can get to start a business depends on various factors, including your business plan, credit score, collateral, and the lender’s criteria. Loan amounts can range from a few thousand dollars to several hundred thousand dollars. For example, SBA microloans offer up to $50,000 for startups and small businesses, while traditional and online lenders may offer larger amounts based on your qualifications and business needs. It’s important to assess your specific funding requirements and financial situation to determine the appropriate loan size for starting your business.
The quickest way to get a business loan is typically through online lenders. Here’s why online lenders are often the fastest option:
The amount of loan you qualify for depends on several factors, including your business’s financial health, credit score, revenue, and the lender’s specific criteria. Here are key considerations:
Using a business loan calculator can help you estimate the amount you may qualify for by inputting your financial details and desired loan terms.
The difficulty of getting a business loan in Florida depends on several factors, including your credit score, business financials, and the type of loan you are seeking. Traditional bank loans and SBA loans tend to have more stringent requirements, such as good credit, strong financial statements, and collateral. However, there are alternative lenders and online platforms that offer more flexible options with quicker approval processes. These lenders might be more accessible for businesses with less-than-perfect credit or limited operating history.
The easiest way to get a business loan is through online lenders and alternative financing options. These platforms typically have streamlined application processes, more lenient credit requirements, and faster approval times compared to traditional banks. Options like merchant cash advances, business lines of credit, and short-term loans are often more accessible and can provide funding within 24 to 48 hours. Additionally, working with a lender that specializes in your industry or financial situation can further increase your chances of approval.
The credit score needed for a small business loan can vary depending on the lender and the type of loan. Generally, traditional lenders like banks prefer a credit score of at least 680 for small business loans. However, some SBA loans may be available to borrowers with scores as low as 620. Alternative lenders and online platforms may approve loans for businesses with lower credit scores, sometimes as low as 500, though these loans may come with higher interest rates and less favorable terms. It’s important to check with individual lenders to understand their specific credit score requirements.
