SBA loans by state
SBA loans in Florida: 4,559 approvals in FY 2026, median $250,000
The state stood out for loans to boat building. 14% of variable loans were priced at the SBA maximum.
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Florida: 7(a) loans approved last year
4,559
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Florida: median rate at approval, $50,001 to $250,000 | 9.75% |
| Florida: median 7(a) loan last year | $250,000 |
| Payment over 10 years, SBA fee added to the loan | $3,378/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
Florida, FY 2026: 4,559 SBA 7(a) approvals for $2.8 billion (3rd of the 50 states and DC, SBA file of September 30, 2026). The state stood out for loans to boat building. 14% of variable loans were priced at the SBA maximum. Only 211 lenders were active. Only 11% of loans went to businesses under two years old. 18% of approvals were later cancelled. Variable rates dominated: only 8% of loans were fixed. 29% of loans had their guaranteed part sold to investors. Express was used for only 26% of loans. Start-ups took only 15% of approvals. Few loans ran past 15 years: 10%. The median loan, $250,000, was the 17th largest of the 50 states and DC. Today’s cap on a $250,000 variable loan: 13.00%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| Newtek Bank | 738 | $150,000 | 9.75% | Florida (in-state) |
| Northeast Bank | 449 | $150,000 | 9.75% | Maine |
| TD Bank | 413 | $80,000 | 9.75% | Delaware |
| Live Oak Banking | 247 | $350,000 | 9.24% | North Carolina |
| Readycap Lending | 221 | $50,000 | 13.25% | New Jersey |
More common here than nationally: boat building
12 Florida loans went to boat building, 7.4 times the national share for that trade. The most frequent trades overall were full-service restaurants, limited-service restaurants and all other specialty trade contractors. As a manufacturer (NAICS 31 to 33), a business in this trade pays no FY 2027 guaranty fee on a 7(a) loan of $700,000 or less, and on a 504 project its debenture may reach $5,500,000.
Many loans priced at the ceiling
14% of Florida’s variable loans were at the maximum SBA allows for their size, against 11% nationally. Almost all of those are loans of $50,000 or less, where the cap is prime plus 6.5 points; in that band 48% of Florida’s loans were at the cap.
Fewer lenders per loan than most states
211 lenders made all 4,559 of Florida’s loans. For that many loans, its number of lenders is the 3rd lowest among the 50 states and DC. The national SBA lenders that work by phone widen the choice.
Seasoned borrowers
Firms under two years old took only 11% of Florida’s approvals, 5th lowest among the 50 states and DC; the market here is built on businesses with several years of tax returns.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 719 | 12.50% | 13.50% |
| $50,001 to $250,000 | 1,606 | 9.75% | 13.00% |
| $250,001 to $350,000 | 637 | 9.75% | 11.50% |
| over $350,000 | 1,597 | 9.00% | 10.00% |
Many approvals cancelled
801 of Florida’s approvals, 18%, were later cancelled (14% nationally). A cancelled loan was approved but not carried through, for example when the borrower chose other financing or the deal fell through.
Nearly all variable
Only 8% of Florida’s approvals were fixed-rate (13% nationally). On the variable loans the margin is set for life but the payment follows prime, which was 7.00% in November 2025, 6.75% from December 11 and 7.00% again from September 17, 2026.
Many guaranteed parts resold
The guaranteed part of 29% of Florida’s loans had been sold on the secondary market by the date of the file (23% nationally). The borrower keeps the same lender and terms; the sale lets the lender fund new loans.
Standard 7(a) more than Express
Only 26% of Florida’s approvals used SBA Express (34% nationally); 69% were made by Preferred Lenders under delegated authority, with the larger standard guaranty of 85% or 75%.
Counties with the most approvals: Miami-Dade (787), Broward (494) and Palm Beach (430). Trades: full-service restaurants (187), limited-service restaurants (131), all other specialty trade contractors (111), fitness and recreational sports centers (104) and snack and nonalcoholic beverage bars (91).
All states compared.