The best small business loans for St. Petersburg, 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 St. Petersburg, FL

We're proud to work with small businesses across various industries in St. Petersburg, 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 St. Petersburg, 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 St. Petersburg, 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 St. Petersburg, FL

How to get a small business loan in St. Petersburg, FL?

If you’re looking to get a small business loan in St. Petersburg, 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 St. Petersburg, 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 St. Petersburg, 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.

St. Petersburg FL

St. Petersburg FL

 
 
 
How do I approach someone for a business loan in St. Petersburg, FL?

Approaching someone for a business loan in St. Petersburg, FL, requires preparation and research. Here are some steps to follow:

  • Determine the amount you need: Before approaching someone for a business loan, it's essential to determine the amount you need to cover your business expenses.
  • Prepare a business plan: A detailed business plan will help you convince lenders that your business is a worthwhile investment. Ensure your plan includes your business's history, target market, marketing plan, and financial projections.
  • Identify potential lenders: Research lenders in St. Petersburg, FL, that offer business loans. You can start by checking with banks, credit unions, and small business administration (SBA) lenders.
  • Make an appointment: Once you have identified potential lenders, call to make an appointment with a loan officer or business development representative.
  • Be prepared for the meeting: Present your business plan and financial statements. Be prepared to answer questions about your business and your financial situation.
  • Follow up: After the meeting, follow up with the lender to check on the status of your application and provide any additional information they may need.

Remember, presenting yourself as a reliable and trustworthy borrower when approaching someone for a business loan is essential. Show the lender that you have a solid business plan, a history of responsible financial management, and a clear plan for paying back the loan.

What is the most common type of small business loan in St. Petersburg, FL?

The most common type of small business loan in St. Petersburg, FL, and throughout the United States is a term loan. A term loan is a lump sum of money borrowed for a specific purpose and repaid over a set period with interest. The loan term can vary but typically ranges from one to ten years. This type of loan is popular because it provides businesses with a predictable repayment schedule, allowing them to plan and budget accordingly.

When should you ask for a business loan in St. Petersburg, FL?

It's a good idea to ask for a business loan in St. Petersburg, FL before you need it. This gives you time to research your options, find the best loan for your needs, and prepare your application materials. It also ensures you have the funds you need when needed, whether to cover unexpected expenses, invest in growth opportunities, or manage your cash flow. Additionally, having a solid financial track record and good credit score makes it easier to qualify for a loan and get better interest rates and terms.

What questions to ask when getting a loan in St. Petersburg, FL?

When getting a business loan in St. Petersburg, FL, some important questions to ask include:

  1. What are the interest rates and fees associated with the loan?
  2. What is the repayment term and schedule of payments?
  3. Is collateral required for the loan?
  4. Are there any prepayment penalties or other fees associated with paying off the loan early?
  5. What is the total cost of borrowing, including any fees, interest, and other charges?
  6. What are the eligibility requirements for the loan, and how can I improve my chances of being approved?
  7. How long will it take to receive the funds if approved for the loan?
  8. Are additional resources or support services available to help me manage my business finances?
  9. What happens if I cannot repay the loan on time, and what are the consequences of defaulting on the loan?
  10. Are there any other loan options or financing solutions that may suit my business needs and financial situation?