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LOCATION & INDUSTRIES

Small Business Loans in Tampa, FL

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By Erin Ryan Staff Writer and Editor at Fast Capital 360 Reviewed By Mike Lucas
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Loan Overview

  • Coins stacked on table with blue arrow pointing up
    Loan Amount Up to $500,000
  • Calendar image appearing as though the page is being flipped
    Estimated Repayment Terms 1-5 Years
  • Speedometer icon
    Interest Rate Starting at 7%
  • Dollar sign in circle
    Speed of Funding As fast as 1 day

Not only does Tampa Bay have welcoming temperatures, drawing a fairly constant stream of tourists, it’s home to beautiful beaches, entertaining venues and exciting nightlife. 

With people visiting year-round, not to mention the millions of locals living in the greater Tampa Bay area, including nearby Clearwater and St. Petersburg, small businesses have an opportunity to capitalize. 

Sometimes, however, these small businesses may need financing to attract more customers. Whether their owners need to invest in marketing, new technology, additional inventory or renovations, a small business loan for Tampa-based companies might help.


Tampa’s Business Landscape

Tampa Bay businesses cater to a wide range of different needs with thousands of home services, medical offices, agencies and financial planners. There also are many retail shops, bars and restaurants.

Several major employers include the city’s 3 major sports franchises (the Tampa Bay Buccaneers, Lightning and Rays), Busch Gardens, Adventure Island and University of South Florida. Nearby St. Petersburg is home to HSN (formerly Home Shopping Network) and the Salvador Dali Museum, among others.


5 Best Banks for Small Business Loans in Tampa, FL

1. BankUnited

BankUnited garnered a spot on Forbes’ list of America’s Best Banks of 2021. It also has earned an A+ rating from the Better Business Bureau (BBB). If you’re looking for SBA loans in Tampa, you’ll find them here. The bank offers SBA 7(a) and 504 loans as well as U.S. Department of Agriculture (USDA) loans. Business credit cards also are available.

2. Cogent Bank

Cogent Bank in Tampa has earned a 4.8-star rating on Google as well as a 4.9-star rating on WalletHub. Whether you’re looking for SBA loans for your Tampa business or a commercial loan, you’ll find it here. 

Other types of business financing available include the following:

  • USDA loans
  • Equipment financing
  • Business credit cards
  • Purchase order financing
  • Recurred revenue lending
  • Commercial real estate loans

3. Regions Bank

This bank has earned a spot on WalletHub’s 2021’s Best Bank in Tampa, FL, list. Regions Bank is also BBB-accredited and has an A+ rating. 

Find these funding types here:

  • SBA loans
  • Lines of credit
  • Real estate loans
  • Working capital loans
  • Equipment financing
  • Construction loans
  • Business credit cards
  • Agriculture loans
  • Commercial loans

4. PNC Bank

PNC Bank is another option when you’re in search of small business loans in Tampa. This bank has also earned an A+ rating with the BBB and a 3.9-star rating on WalletHub. 

Find the following financing here:

  • Business credit cards 
  • Business vehicle financing
  • Commercial real estate loans
  • Unsecured loans ($20,0000-$100,000)
  • Secured loans ($100,001-$3 million)

5. Bank of America

Bank of America has earned an A+ rating from the BBB. It’s also earned a 3.9-star rating on WalletHub from nearly 40,000 reviewers. 

In addition to being an SBA lender in Tampa, Bank of America offers the following business loans:

  • Franchise financing
  • Business auto loans
  • Business credit cards
  • Health-care practice loans
  • Commercial real estate loans
  • Unsecured and secured loans
  • Unsecured and secured lines of credit

Alternative Forms of Financing in Tampa, FL

Banks are often the first place small business owners turn to when they need capital. After all, these conventional lenders have been around for centuries and they’re often able to offer competitive rates and terms. Many entrepreneurs are finding out, though, that obtaining financing this way can be challenging. 

In response to the changing lending landscape, alternative lenders opened their doors and offered other financing options to small business owners in need of capital. They often are able to approve applicants who have been turned down by banks because they weren’t able to meet their qualification requirements. Alternative lenders also are able to fund approved applicants quickly.

In exchange for a speedy, hassle-free process, alternative lenders typically offer shorter financing terms, more frequent payment installments and higher interest rates.

  • Applying for Alternative Financing Through Fast Capital 360

    When you’re in need of a small business loan in the Tampa Bay area, see how Fast Capital 360 can help, whether you’re seeking an SBA loan or a short-term financing product.

    Speed

    Apply online quickly and, if approved, you could be funded in as fast as a day. 

    Multiple Offers

    We partner with lenders throughout the U.S. That means your single application with us could return several financing offers.

    Expert Guidance

    Review your offers with your dedicated Fast Capital 360 Business Advisor and see what works best for your business.

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Small Business Resources in Tampa, FL

In addition to lenders for small business loans, here are a few local organizations you can turn to for helping to start or expand your business venture.

Prospera

Prospera is funded in part by many private corporations as well as several government agencies, including the cities of Tampa, Orlando and Kissimmee, among others. The organization’s mission is to help Hispanic entrepreneurs, whether they are startup or experienced business owners. 

Interested individuals can schedule a free strategy session or participate in one of the many free business workshops and seminars presented in Spanish. Topics may include accounting, licensing and permits, marketing, negotiations, pricing strategies and more.

Prospera also helps entrepreneurs through the process of applying for traditional loans and microloans, offering tips for improving credit, aiding with developing a business plan and providing assistance preparing loan applications.

SCORE 

For decades, this nationwide nonprofit has been helping small business owners with training and networking opportunities. You can walk into your local Tampa branch and speak with a mentor 1-on-1 for free, or sign up for a workshop on a business topic. Browse the online library, which offers a wealth of resources, including business document templates, instructional videos, helpful articles and more.

Small Business Development Center

In Tampa, the Small Business Development Center is housed at the University of South Florida within the College of Business. Whether you’re looking to start a business or are looking for help with an established one, check out this organization. 

Schedule an appointment to speak with a business consultant or sign up for a no-cost class. Topics include:

  • Financing a business
  • Government contracting
  • Business plan development
  • Subcontracting
  • Women, minority and veteran certification
  • Cash flow versus profitability
  • Marketing

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