From bustling Little Havana cafes to high-growth tech startups in Brickell, Miami’s small business community is as vibrant as the city itself. But with rising costs, competitive markets, and unique local challenges, many business owners struggle to secure the capital they need.
That’s where SBA loans come in.
This guide explores how SBA loans support small businesses in Miami, from local lenders and regional programs to loan types, qualification tips, and success stories from across the 305.
The U.S. Small Business Administration (SBA) doesn’t lend money directly—instead, it partners with banks and nonprofits to back loans for small businesses. This federal guarantee makes lenders more willing to approve applications that might not qualify otherwise.
Lower interest rates than traditional loans
Longer repayment terms
Lower down payment requirements
Flexible uses (real estate, equipment, working capital, etc.)
Great for startups, minority-owned, and immigrant-owned businesses
Whether you run a juice bar in Wynwood or a logistics company near the Port of Miami, SBA loans can provide the financial backbone for your growth.
The most popular SBA program, 7(a) loans are flexible and widely used in South Florida.
Max Amount: $5 million
Use Cases: Working capital, expansion, renovations, real estate, equipment
Terms: Up to 25 years (real estate); 7–10 years (working capital)
Rates: Prime + 2.25%–4.75% (based on loan size/term)
Down Payment: 10–20%
City National Bank of Florida
TD Bank (Miami branches)
FirstBank Florida
SouthState Bank
Pro Tip: These lenders are part of the SBA’s Preferred Lender Program (PLP), which means faster approval and processing.
For startups and small-scale businesses, SBA microloans offer a helpful alternative.
Max Loan Amount: $50,000
Term: Up to 6 years
Rate: 8–13% (depending on intermediary)
Use Cases: Equipment, supplies, marketing, lease deposits
Ascendus (formerly ACCION) – Specializes in underserved communities
Prospera – Focused on Hispanic-owned businesses
Partners for Self Employment – Miami-based nonprofit microfinance leader
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Choose the SBA loan program that fits your business
Find a local SBA-approved lender or nonprofit
Gather tax returns, bank statements, and business plan
Submit application through lender
Go through underwriting and approval
Review loan terms and sign documents
Use funds for approved business needs
If you want to own your business space in Miami instead of leasing, the SBA 504 loan could be your best bet.
Max Loan Amount: $5.5 million
Use: Buy commercial property, renovate existing location, or purchase equipment
Structure: 50% bank loan + 40% SBA + 10% borrower equity
Terms: 10–25 years
Interest: Fixed, typically below market rates
Restauranteurs buying a brick-and-mortar location
Health professionals purchasing or remodeling offices
Warehouse or distribution businesses near the port or airport
Business: Bella Roots Salon
Need: $85,000 for renovation and hiring stylists
Solution: SBA 7(a) loan via TD Bank
Result:
Completed renovations within 2 months
Hired 3 new employees
Boosted monthly revenue by 40%
Takeaway: With the right SBA lender, even small beauty and service businesses can access fast, affordable capital in Miami.
Miami’s ecosystem for small business support is strong. These organizations offer free or low-cost help with SBA loan applications, business plans, and financials.
Free consulting and loan packaging
Helps Miami-Dade small businesses access capital
Located at Florida International University
Mentorship and workshops
Experienced business professionals volunteering their time
Business support for Hispanic-owned companies
Workshops, consulting, and financing assistance
U.S.-based and for-profit business
Based in or expanding to Miami-Dade County
Owner must be a U.S. citizen or lawful resident
Reasonable credit (typically 620+)
Ability to repay (via revenues, assets, or projections)
2–3 years of personal and business tax returns
Profit & loss statements
Business plan or executive summary
Personal financial statement
Use-of-funds breakdown
Build-out costs for new locations
Equipment upgrades (kitchen, POS, signage)
Working capital for payroll and inventory
Inventory purchasing
Leasehold improvements in local malls or neighborhoods
Website and branding upgrades
Warehouse equipment or commercial vehicles
Software and automation investments
Staff training and safety certification
Software tools, marketing, and initial hiring
Office setup or coworking space
Digital advertising and SEO campaigns
| Pros | Cons |
|---|---|
| Lower interest and longer terms | SBA process can take 2–8 weeks |
| Great for small and diverse business types | Requires strong documentation and planning |
| Local support from SBDC and nonprofits | Some loans require personal guarantee |
| Available to startups with support | May need collateral for larger loan amounts |
SBA Lender Match Tool (opens in new tab)
Florida SBDC at FIU (opens in new tab)
Prospera – Miami Business Support (opens in new tab)
SCORE Miami (opens in new tab)
Whether you’re launching a food truck in Wynwood or scaling a digital agency in Brickell, SBA loans offer the capital, flexibility, and local support you need to succeed. Backed by the federal government and supported by a robust Miami ecosystem, these loans are among the most powerful tools available for growing your business in South Florida.
Ready to grow your Miami business with an SBA loan?
Connect with a local lender or speak to an advisor at the Florida SBDC to get personalized guidance and funding support.