If you're looking for a city that's always alive with energy and culture, Miami is the place for you. From the beaches to the nightlife, there's something for everyone in this vibrant city. And with its business-friendly atmosphere, it's no wonder so many entrepreneurs are drawn to Miami.
If you're thinking of starting a business in Miami, you'll need to secure financing. That's where Advancepoint Capital can help. We offer business loans up to $1,000,000 to help you get your business off the ground. We have a wide range of business loans in Miami to suit your needs, and our team of experts will work with you to find the best solution for your business.
Get A Business Loan in Miami Easily
No matter what type of business you're starting, AdvancePoint Capital can help you get the funding you need. We offer a variety of small business loans, including SBA loans, term loans, and lines of credit. We have a long history of helping businesses in Los Angeles get the financing they need to grow and succeed.
For more information about our business loans in Miami, give us a call today. We're here to help you take your business to the next level.
9 Best Financing Options for Miami Small Businesses (May 2023)
Small Business Loans in Miami
A small business loan gives you access to the money you need to invest in your business. Funds can be used for many different purposes.
SBA Loans
The Small Business Administration (SBA) is a government agency that serves as the main resource for government-backed business loans.
Merchant Cash Advance
Revenue based financing that leverages the credit card receivables of the business for a lump sum of money upfront, repaid out of future credit card processing. High approval rates with quick and easy application.
Business Cash Advance
Funding that is based on the revenue of the business is repaid by the funder taking a set percentage of future sales. Same day approvals available.
Business Line of Credit
A line of credit allows you flexible access to a pool of money when you need it most up to a credit limit. Only required to pay interest on the outstanding balance.
Equipment Financing
For Miami businesses that rely heavily on expensive equipment, equipment provides an affordable option to purchase new equipment with terms from 2 to 7 years to repay.
Invoice Financing
Invoice financing advances a lump sum of an issued invoice at time of issuance to the issuer for a nominal fee. This process accelerates the businesses cash flow tremendously.
Short-Term Small Business Loans in Miami
Short-term business loans are defined between 6 and 24 months and are commonly used when bank options are not available, or you need money fast.
Long Term Business Loans
Long term business loans range from 2 to 10 years to repay and are used for large costly projects or business expansions. Great rates and affordable terms.
U.S. Small Business Administration
How to Grow Your Business in South Florida
View the South Florida Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.
U.S. (SBA) U.S. Small Business Administration
South Florida District Office
Why Does Your Miami Business Need a Loan?
Every business needs some financing help at one point or another. Before you make any decisions about which funding option is best for you, it’s important to take a step back and think about why your business needs cash. Making the wrong financing decision can be costly. Let’s take a look at some common reasons that businesses need a loan.
Working Capital
Perhaps the most common reason for a business loan is working capital. Keeping a business afloat with rent, payroll, and other everyday expenses means your business will need some extra capital.
Marketing
Marketing campaigns or budgets are another springboard for business loans. Without the right exposure or promotional activity, it’s tough to make money in Miami. Business loans allow you the cash flow to gain some momentum around a product or service
Equipment
Expensive equipment, software, or other business tools can be another reason for a business loan. Compliance standards and dynamic trends force companies to update their hardware constantly.
How To Qualify For a Business Loan
There are essentially three main factors that affect business loan qualifications. Depending on what type of loan or advance you are considering, some of these factors may play a larger role than others in qualifying you for a loan than others.
- Credit score
- Length of time in business
- Financial statements such as business bank statements, profit and loss statements, or business and personal tax returns
Additional Information, Programs, and Grants in Miami
United Way of Miami-Dade – Guide to Services for Small Businesses
Small Business Assistance Program- Part of the broader Miami Pandemic Relief Fund was created by generous donors to help small businesses that may not be eligible for other assistance but are struggling financially. Small business owners will need to meet the eligibility requirements and provide certain documentation to complete the application. Only first-time applicants will be considered.
Florida Small Business Emergency Bridge Loan Program – which can assist small businesses impacted by COVID-19. The bridge loan program, managed by the Florida Department of Economic Opportunity (DEO), will provide short-term, interest-free loans to small businesses experiencing an economic injury from COVID-19
Miami-Dade County launches Small Business Assistance Forgivable Loan Program – County program to help those not receiving other previous assistance. The $5 million Small Business Assistance Forgivable Loan Program (SBAFLP) utilizes the United States Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) funds allocated through the Federal Coronavirus Aid Relief and Economic Security Act (CARES Act).
Miami Downtown Development Authority (Miami DDA) – The Miami Downtown Development Authority (DDA) is the economic agency for the City of Miami’s urban core and maintains several concentrations including Advocacy, Quality of Life, Urban Planning/Resiliency, Marketing, and Business Development. Together we work to fulfill our mission statement “to grow, strengthen and promote the economic health and vitality of Downtown Miami.
Miami DDA Incentive Fund – The Miami DDA Program will only be available to New-to-Market Businesses or Expanding Businesses that will either relocate, or hire, a minimum of ten (10) new employees to the Miami DDA District within a three (3) year period. Additionally, the applicant must meet several other program requirements as stipulated in the guidelines.
Why AdvancePoint Capital?
- Experience with Businesses in Miami – We have been providing financing in Miami for years.
- Trust – Excellent reviews and feedback from Miami small business owners.
- Loan Specialists – Experienced business funding specialists in Miami.
- No Obligation – No cost, no commitment quotes.
- Products – A variety of business loan products for businesses in Miami.
Apply for Business Loans in Miami Today!
Don't let financial constraints hold your business back. Partner with AdvancePoint Capital and take advantage of our business loans in Miami, FL today. Let us help you succeed in your business and reach new heights of prosperity.
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