For small business lending in Miami, contact Mercantil Bank. We’ve been part of the South Florida business community since 1979, when we opened our first branch in North Miami. Since then, we’ve expanded to 18 locations across the southern United States. Our goal is the same as it was over 34 years ago: to invest in the communities that we serve. Whether you’re looking for business banking in Miami or a Miami business credit line, our lending agents offer a series of products tailored to your business needs.
Our loan mix includes Small Business Administration (SBA) loans, term loans, real estate loans and lines of credit that are designed to provide funds for both major and minor business needs. Loans, for example, enable businesses to purchase equipment, obtain property, renovate commercial buildings and expand operations. Our lines of credit provide funds for small contingencies, like meeting payroll during a slow period; small purchases, like supplies or inventory; and small campaigns for marketing and promotion.
Small Business Lending in Miami
Mercantil Bank administers a wide range of SBA loans to help small businesses meet their financing needs. Our partnership with the SBA reinforces our decades-long commitment to community investment. SBA loan products include:
- SBA-7(a) loans. SBA-7(a) loans are based on a small company’s revenue-generating activities, its location and the character of its leadership team. Many for-profit small businesses operating in South Florida are eligible for these loans as long as they’re able to demonstrate both need and the intention to use the funds for a sound business purpose. Mercantil Bank offers loans of up to $2 million backed by a 75-percent guaranty against payment default from the SBA.
- CDC/504 loans. These loans are designed to finance major purchases for small businesses. Purchases may include land, commercial real estate or major plant equipment. Small businesses may also use CDC/504 for new construction or renovation projects. As long as business owners finance property that will be 51-percent owner-occupied, a CDC/504 loan may finance up to 90 percent of the purchase price.
- SBA Express. Business owners can take out an SBA Express loan of up to $350,000 with a 36-hour turnaround time. Repayment terms are negotiable up to seven years.
- Minority Small Business loans. To promote business ownership and longevity for minorities, women and people with disabilities, the SBA extends Minority Small Business loans to companies in which a woman, a disabled person or a member of a minority group has at least a 51-percent ownership share.
Choose Mercantil Bank for Small Business Lending in Miami
Miami commercial lending providers may offer loans and lines of credit that have similar interest rates, down payment requirements and repayment periods. Mercantil Bank distinguishes itself from the competition, however, by delivering personalized and responsible service. Our personnel are highly trained, and we use the latest technology to guarantee your security. We’re the local lender with a global reputation for strength in personal, commercial, international, corporate and private banking. Call to schedule an appointment with a Mercantil Bank lending agent today whenever you want to discuss small business lending in Miami.