The best small business loans for Coral Springs, 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
  • Personalized service
  • Dedicated support team

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Industries we work with in Coral Springs, FL

We're proud to work with small businesses across various industries in Coral Springs, 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 Coral Springs, 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 Coral Springs, 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 Coral Springs, FL

How to get a small business loan in Coral Springs, FL?

If you’re looking to get a small business loan in Coral Springs, 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 Coral Springs, 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 Coral Springs, 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.
 

Coral Springs, FL

Coral Springs, FL

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

Coral Springs, FL, has various business loan options, like traditional banks, credit unions, community banks, or online lenders. The best place to get a business loan will depend on your specific needs, credit history, business revenue, and other factors.

 

Researching and comparing different lenders is recommended to find the best fit for your business. You can also consult with a financial advisor or a Small Business Development Center (SBDC) for guidance on finding the best place to get a business loan in Coral Springs, FL.

What is an SBA loan in Coral Springs, Florida?

The SBA loan program is a government initiative to provide affordable financing options to small businesses. Instead of lending money directly to small businesses, the SBA partners with approved lenders to guarantee a portion of the loan, increasing the chances of small businesses qualifying for loans they might not otherwise be able to access.

 

The SBA has various loan programs, such as general small business loans, microloans, real estate and equipment loans, and disaster loans. These loans can be used for multiple business purposes, such as expanding operations, purchasing inventory or equipment, and refinancing debts.

Can I get a business loan for my salary in Coral Springs, FL?

It is possible to get a business loan to cover your salary as a business owner, but it depends on various factors, such as the lender's policies, the financial health of your business, and your personal credit score.

 

Most lenders are more interested in the business's ability to generate revenue and repay the loan than your personal income. Therefore, it's important to demonstrate that your business has a stable income and cash flow, which can be used to repay the loan.

 

Additionally, some lenders may require a personal guarantee or collateral to secure the loan, which means you would be personally responsible for repayment if the business cannot make the payments.

 

It's best to research different lenders and their requirements to find the one that best fits your needs and financial situation.

How many months is a typical business loan in Coral Springs, FL?

The length of a typical business loan in Coral Springs, FL, can vary depending on the lender, the loan amount, and the purpose of the loan. 

Generally, short-term loans can have a repayment term of a few months to a year, while long-term loans can have repayment terms of several years. 

The repayment term may also be influenced by factors such as the borrower's creditworthiness and the collateral offered to secure the loan. 

Here's the breakdown of terms for all the loans we offer:

TYPE OF SMALL BUSINESS LOAN

TERM

Business Line of Credit

Revolving

SBA Loan

6 to 36 Months

Equipment Financing

Revolving

Asset Based Loans

6 – 24 Months

Bridge Loan

Revolving

Inventory Financing

2 – 25 years

Invoice Financing

Revolving

Purchase Order Financing

6 to 36 Months

Business Term Loans

Revolving