Florida

Business Loans in Florida

Florida businesses borrow from banks, SBA lenders and non-bank lenders, and since 2024 state law has required a written cost disclosure on most non-bank business financing of $500,000 or less. Sagamore, a commercial loan broker, matches established Florida businesses with lenders for lines of credit, term loans, SBA loans, equipment financing and invoice factoring.

Written by Jordan Levy, Founder & CEO · Last updated November 4, 2026

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State law

What does Florida's Commercial Financing Disclosure Law require?

The law covers commercial loans, commercial open-end credit and purchases of accounts receivable, including merchant cash advances. Banks and their affiliates, financing secured by real estate, leases and providers that close five or fewer Florida deals a year are exempt.

What you should get in writing

The total amount of funds provided
The amount actually disbursed, if less, after deductions or payoffs
The total amount you will pay the provider
The total dollar cost: what you repay minus what you receive
How, how often and how much you pay, or an estimate and how it is calculated when payments vary
Whether paying early carries a cost or a discount

What else the law does

The disclosure is due at or before the deal closes.
A broker may not charge an advance fee, other than third-party costs such as a credit report or an appraisal.
A broker may not make deceptive or misleading statements, and its ads must show its business address and phone number.
The Attorney General has exclusive enforcement. The law gives no private right to sue, and a violation does not void the financing.

At a glance

Law: Florida Statutes ss. 559.961–559.9615 (HB 1353, 2023)
In effect: Transactions on or after January 1, 2024
Covers: Commercial financing of $500,000 or less
Enforced by: Florida Attorney General

SBA

Where are the SBA offices in Florida?

The SBA doesn't lend directly. Banks, credit unions and other SBA-approved lenders make 7(a) and 504 loans, and the SBA guarantees part of each one. District offices connect businesses with counseling, training and local lenders.

Central Florida falls in the North Florida district, so Orlando businesses are served from Jacksonville.

How SBA loans work

2 locations

JacksonvilleNorth Florida District Office43 counties in north Florida, with an appointment-only office in Orlando
MiamiSouth Florida District Office24 counties in south Florida, with virtual offices in Fort Pierce and Tampa

State programs

What state loan programs does Florida offer?

FloridaCommerce runs the state's federal State Small Business Credit Initiative programs with the Florida Opportunity Fund and Florida First Capital Finance Corporation. It also runs an emergency loan program that opens only after a disaster.

These are state programs. Sagamore doesn't run them or decide who qualifies.

Collateral Support ProgramFloridaCommerce (SSBCI)A cash deposit that a lender holds as collateral to cover a shortfall in the borrower's own collateral.
Loan Participation ProgramFloridaCommerce (SSBCI)State funds go in as a companion loan, or buy part of a loan from a private lender.
Loan Guarantee ProgramFloridaCommerce (SSBCI)A short-term, partial guarantee on a loan or line of credit.
Capital Access ProgramFloridaCommerce (SSBCI)Pooled loan insurance: borrower and lender contributions to a reserve are matched with state funds.
Florida Small Business Emergency Bridge LoanFloridaCommerce, with Florida First Capital Finance CorporationShort-term loans from state funds, opened for set counties after a declared disaster such as a hurricane, which must be repaid.

Industries

Which Florida industries do we work with?

Florida has 3.5 million small businesses, 99.8% of all businesses in the state, according to the SBA Office of Advocacy's 2025 profile. We work with established businesses in every industry; these are the ones that stand out in Florida.

Eligibility

What do you need to qualify for a business loan in Florida?

The same as in every other state. Sagamore is a broker, not a lender: one application is matched with lenders across all 50 states, and every program starts from the same minimums. We work with established businesses only, so startups are not eligible.

Credit score: 600+
Time in business: 1+ year
Annual revenue: $400K+

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Frequently Asked Questions

Common questions about business loans in Florida

No. Florida's Commercial Financing Disclosure Law bars brokers from collecting advance fees, except for third-party costs such as a credit report or an appraisal. Brokers also can't make misleading statements, and their ads must show a business address and phone number.

For non-bank financing of $500,000 or less, a written disclosure at or before closing: the funds provided, the amount disbursed, the total you repay, the total dollar cost, the payment schedule and whether prepaying costs or saves money. Bank loans and real estate loans are exempt.

Yes, when FloridaCommerce activates the Florida Small Business Emergency Bridge Loan Program for the affected counties. It makes short-term loans from state funds that must be repaid, and each activation has its own application window.

The SBA North Florida District Office, in Jacksonville, which serves 43 counties in north and central Florida. South Florida's 24 counties are served from Miami.

Sources

Where do these facts come from?

Each fact on this page was checked against the agency or legislature that publishes it. Programs and offices change, so confirm the details with the source before you rely on them.