The best small business loans for West Palm Beach, 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 West Palm Beach, FL

We're proud to work with small businesses across various industries in West Palm Beach, 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 West Palm Beach, 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 West Palm Beach, 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 West Palm Beach, FL

How to get a small business loan in West Palm Beach, FL?

If you’re looking to get a small business loan in West Palm Beach, 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 West Palm Beach, 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 West Palm Beach, 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.
 

West Palm Beach, FL

West Palm Beach, FL

What is the best place to get a business loan in West Palm Beach, FL?

There are many business loan options in West Palm Beach, FL. Some of the best places to look include local banks, credit unions, and online lenders. Consider working with a Small Business Administration (SBA) lender, which can offer more favorable terms and a higher chance of approval for qualified applicants. Comparing rates and terms from multiple lenders is crucial to find the best option for your business needs.

What is an SBA loan in West Palm Beach, FL?

SBA (Small Business Administration) loan is a type of loan that is backed by the US Small Business Administration, a government agency that provides support to small businesses. The SBA doesn't actually lend money but instead guarantees a portion of the loan made by an SBA-approved lender to reduce the risk for the lender.

 

This guarantee allows lenders to offer better loan terms, such as more extended repayment periods and lower interest rates, to small businesses that might not otherwise qualify for traditional loans. SBA loans can be used for various business purposes, including working capital, equipment purchases, real estate financing, and more.

Can I get a $10,000 business loan in West Palm Beach, FL?

Yes, getting a $10,000 business loan in West Palm Beach, FL, is possible. However, the availability of such a loan may depend on several factors, including the borrower's credit score, business financials, and collateral. It is recommended to research various lenders and loan options to find the best fit for your specific business needs.

What is the highest business loan amount in West Palm Beach, FL?

The maximum loan amount for an SBA loan in West Palm Beach, FL, can vary depending on the program, lender, and borrower's financial situation. Generally, the SBA has a maximum loan limit of $5 million for the 7(a) loan program, $5.5 million for the 504 loan program, and $350,000 for the microloan program. However, individual lenders may have their own maximum loan limits for SBA loans. It's best to check with specific lenders to see what loan amounts they offer.

Here’s a breakdown of the maximum loan amounts we offer:

TYPE OF SMALL BUSINESS LOAN

MAXIMUM LOAN AMOUNT

Business Line of Credit

$10,000 -$5,000,000

SBA Loan

$100,000 – $10,000,000

Equipment Financing

$25,000 - $5,000,000

Asset Based Loans

$250,000 - $10,000,000

Bridge Loan

$25,000 – $5,000,000

Inventory Financing

$25,000 – $10,000,000+

Invoice Financing

$25,000 - $10,000,000+

Purchase Order Financing

$25,000 – $10,000,000+

Business Term Loans

$25,000 – $5,000,000