The best small business loans for Clearwater, FL

Take your business to new heights with the right financing

  • Apply in less than 60 seconds
  • Wide range of financing option for every need
  • Competitive rates and terms
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Industries we work with in Clearwater, FL

We're proud to work with small businesses across various industries in Clearwater, FL. Whether you're in healthcare, construction, or technology, we're here to help you grow and succeed. Our financing solutions are customized to meet your needs, so you can focus on what you do best - running your business!

Here are some of the many industries we serve:

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    Construction

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    Medical Practices

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    Beauty Salons

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    Retail Stores

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    Restaurants

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    Hotels

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    Manufacturing

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    Staffing

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    Automotive Businesses

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    Landscaping

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    Toy Businesses

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    Transportation

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    IT

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    Professional Services

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    Veterinary Practices

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    Franchise Businesses

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See why thousands of businesses have made SMB Compass

the top-rated small business loan provider in Clearwater, FL

Garrett Cushing
Garrett Cushing
November 30, 2021.
Diligent and honest people to work with. SMB has been a great resource for my business, helped me through a variety of different financing over the years.
John Limato
John Limato
November 16, 2021.
I rarely write reviews but felt the need to thank the SMB team. Found them to be honest people that took the time to understand my business and walked me through the entire process.
Connor Johnson
Connor Johnson
November 4, 2021.
SMB helped me navigate through the growth period in my business. They were diligent and genuinely cared to make sure we got the percent line in place to meet our current needs. Very happy I was introduced to them and would highly recommend.
Michelle Cota
Michelle Cota
October 27, 2021.
I am so happy that SMB was able to help our company when we were in a jam. They were so attentive and so easy to work with. Helped step by step to get financed. Thank you Clay!
Veronica Akins
Veronica Akins
October 14, 2021.
SMB Compass was helpful and fast. They kept in contact and answered all my questions. The best part of our interactions was that the lender could have given me an extremely high interest rate loan when I thought that was my only option, but he instead told me of another option that fit our needs much better and saved us money! Thank you Clay
John Folco
John Folco
October 13, 2021.
True experts in the Commerical finance space. Great company to work with, look forward to a continued relationship.
Pat Mcandrews
Pat Mcandrews
October 8, 2021.
Great team of professionals to work with. Incredibly responsive and great problem solvers. Would recommend them to anybody.
Haroon S
Haroon S
September 22, 2021.
Clay was great to work with. Very responsive and great communication.
John Lutz
John Lutz
September 15, 2021.
Great people to work with. They were transparent and helpful from the first call to closing. I would recommend them to anyone in my network.
Matthew Seymour
Matthew Seymour
July 16, 2021.
Clay & Matt are experts in the industry and they are able to advise on a number of topics.

Learn more about our loan packages

The best small business loan in Clearwater, FL

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    SBA Loans

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    Term Loan

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    Invoice Financing

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    Business Line of Credit

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    Inventory Financing

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    Bridge Loans

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    Equipment Financing

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    Asset Based Loans

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    Purchase Order Financing

FAQs about small business loans in Clearwater, FL

How to get a small business loan in Clearwater, FL?

If you’re looking to get a small business loan in Clearwater, FL, here’s what you should do:

  1. Know what you need. Before applying for a loan, get a clear idea of how much money your business needs and how you will use the funds. Doing so can help identify the best type of loan for your needs.
  2. Check your credit score. Many lenders in Clearwater, FL, will look at your credit score when reviewing your application, so knowing where you stand is important. If your score is less than ideal, consider improving it by making timely payments, keeping old accounts open, and limiting new credit applications.
  3. Research lenders. Many different types of lenders offer small business loans in Clearwater, FL, including banks, credit unions, and online lenders. Do your research to find out which ones best fit your needs and qualifications.
  4. Prepare your application. Once you’ve identified potential lenders, prepare your loan application carefully. This may include providing financial statements, tax returns, and other documentation demonstrating your ability to repay the loan.
  5. Apply for the loan. If you’ve found a lender you’re comfortable with, it’s time to start your application. The process varies from lender to lender, but essentially, you need to submit your loan application along with the required documents. You also need to prepare to answer any additional questions the lender may have.
  6. Wait for a decision. The lender will then review your application and decide whether to approve your loan or not. Funding speed depends on the lender and loan type. Banks usually take weeks or months, while online lenders can fund your business in a day.
 

Clearwater, FL

Clearwater, FL

What is the best place to get a business loan in Clearwater, FL?

There are various options for businesses to obtain a loan in Clearwater, Florida. These include traditional banks, credit unions, and online and alternative lenders.

 

Compare different lenders' terms, interest rates, and fees to find the best fit for your business needs. It may also be helpful to speak with a financial advisor or accountant to determine the best financing options for your business.

What is an SBA loan in Clearwater, FL?

SBA loan in Clearwater, FL, refers to the various loan programs offered by the U.S. Small Business Administration (SBA) to help small businesses obtain financing.

 

SBA loans are partially guaranteed by the federal government, allowing lenders to offer borrowers more favorable terms and lower interest rates.

 

The SBA offers a range of loan programs, including 7(a) loans, CDC/504 loans, microloans, and disaster loans. These loans can be used for various purposes, such as starting or expanding a business, purchasing equipment, buying real estate, or refinancing debt.

What kind of loan is good for small businesses in Clearwater, FL?

Depending on their needs and qualifications, various types of loans could be suitable for small businesses in Clearwater, FL. Some common types of loans include:

  • SBA loans: These are loans guaranteed by the Small Business Administration and offer lower interest rates and longer repayment terms than traditional bank loans.
  • Business lines of credit: This loan provides access to a revolving line of credit, which businesses can use as needed and only pay interest on what they borrow.
  • Equipment financing: This type of loan allows businesses to purchase the equipment they need for their operations and pay it off over time.
  • Invoice financing: Also known as accounts receivable financing, this type of loan allows businesses to get an advance on outstanding invoices to improve cash flow.
  • Purchase order financing: This type of financing helps businesses fulfill customer orders by providing funds to pay suppliers for the materials or products needed to complete the order. Loan amounts can range from $5,000 to $5 million, with terms of 30 to 120 days.
  • Bridge loans: These short-term loans are typically used to cover temporary cash flow needs or to finance a specific project or investment. Loan amounts can range from $25,000 to $500,000, with 3 to 24 months terms.
  • Inventory financing: This type of loan allows businesses to use their inventory as collateral to secure funding. Loan amounts can range from $10,000 to $1 million, with 6 to 24 months terms.
  • Term loans: These loans provide businesses with a lump sum of cash repaid over a fixed period, typically with interest. Loan amounts can range from $25,000 to $5 million, with terms of 1 to 5 years.
  • Asset-based loans: This type of loan is secured by the business's assets, such as accounts receivable, inventory, and equipment. Loan amounts can range from $100,000 to $10 million, with 6 to 24 months terms.
What are the easiest loans to get approved for in Clearwater, FL?

The easiest business loans to get approved for in Clearwater, FL, may vary depending on the specific lender and the applicant's qualifications. However, generally speaking, some of the easier business loans to get approved for may include the following:

  • Business credit cards: Many credit card issuers offer credit cards with relatively easy approval processes. These cards can provide a source of revolving credit for small businesses.
  • Equipment financing: Lenders may be more willing to approve equipment financing loans since the equipment can serve as collateral. This type of loan is used to purchase equipment that a business needs to operate, and the equipment serves as collateral.
  • Invoice financing: This type of financing allows businesses to sell their unpaid invoices to a lender for an immediate cash advance. The lender will then collect payment from the customer when the invoice is due.
  • Microloans: These small loans typically range from $500 to $50,000. Nonprofit organizations or community lenders often offer microloans to help small businesses get off the ground.