States › Florida › Monroe County
County35th of 67 in Florida by approvalsFIPS 12087
SBA loans in Monroe County, Florida
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Monroe County, Florida, received 104 SBA loan approvals worth $71.7M in FY2021 to FY2025 (89 7(a), 15 504).
That is 25.0 approvals per 1,000 business establishments (4,154 establishments in 2023), below the Florida figure of 41.6 and below the national 41.0.
It ranks 35th of 67 Florida counties with approvals. In FY2025 there were 24, about level with FY2024.
44 lenders had approvals here; the most active were Readycap Lending, LLC (10), Florida Business Development Corporation (6) and TD Bank, National Association (6). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Monroe County
By number of approvals to businesses in the county, FY2021–FY2025; 44 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Readycap Lending, LLCBerkeley Heights, NJ | 10 | $1.6M | 9.6% | |
| 2 | Florida Business Development CorporationTampa, FL · CDC | 6 | $8.9M | 5.8% | |
| 3 | TD Bank, National AssociationWilmington, DE | 6 | $1.0M | 5.8% | |
| 4 | Centennial BankConway, AR | 5 | $4.3M | 4.8% | |
| 5 | Newtek Bank, National AssociationMiami, FL | 5 | $3.0M | 4.8% | |
| 6 | SouthState Bank, National AssociationWinter Haven, FL | 5 | $2.9M | 4.8% | |
| 7 | Sunshine State Economic Development CorporationClearwater, FL · CDC | 4 | $3.6M | 3.8% | |
| 8 | Newtek Small Business Finance, Inc.Lake Success, NY | 4 | $1.0M | 3.8% | |
| 9 | CDC Small Business Finance Corp.San Diego, CA | 4 | $595K | 3.8% | |
| 10 | Northeast BankLewiston, ME | 4 | $178K | 3.8% | |
| 11 | Florida First Capital Finance Corporation, Inc.Tallahassee, FL · CDC | 3 | $5.5M | 2.9% | |
| 12 | Wells Fargo Bank National AssociationSioux Falls, SD | 3 | $3.0M | 2.9% | |
| 13 | Bank of America, National AssociationCharlotte, NC | 3 | $715K | 2.9% | |
| 14 | Lendistry SBLC, LLCLos Angeles, CA | 3 | $350K | 2.9% | |
| 15 | Gulf Coast Bank and Trust CompanyNew Orleans, LA | 2 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 13 | 12.5% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 6 | 5.8% | |
| 3 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 6 | 5.8% | |
| 4 | Traveler AccommodationNAICS 7211 | 4 | 3.8% | |
| 5 | Other Motor Vehicle DealersNAICS 4412 | 4 | 3.8% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 2.9% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 3 | 2.9% | |
| 8 | Offices of DentistsNAICS 6212 | 3 | 2.9% | |
| 9 | Warehouse Clubs, Supercenters, and Other General Merchandise RetailersNAICS 4552 | 3 | 2.9% | |
| 10 | Scenic and Sightseeing Transportation, WaterNAICS 4872 | 3 | 2.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 18 | 17.3% | |
| 2 | Retail Trade | 16 | 15.4% | |
| 3 | Professional, Scientific, and Technical Services | 13 | 12.5% | |
| 4 | Construction | 11 | 10.6% | |
| 5 | Health Care and Social Assistance | 9 | 8.7% | |
| 6 | Manufacturing | 7 | 6.7% | |
| 7 | Transportation and Warehousing | 6 | 5.8% | |
| 8 | Arts, Entertainment, and Recreation | 5 | 4.8% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 14 | $11.9M | $302K | 1 | — | 15 | 139 |
| FY2025 | 23 | $7.8M | $103K | 1 | — | 24 | 188 |
| FY2024 | 21 | $9.9M | $260K | 2 | — | 23 | 151 |
| FY2023 | 12 | $7.1M | $364K | 3 | $10.7M | 15 | 124 |
| FY2022 | 15 | $10.8M | $315K | 2 | — | 17 | 154 |
| FY2021 | 18 | $15.5M | $352K | 7 | $6.1M | 25 | 131 |
| FY2020 | 7 | $2.4M | $325K | 1 | — | 8 | 45 |
| FY2019 | 12 | $11.7M | $250K | 1 | — | 13 | 80 |
| FY2018 | 11 | $1.5M | $63K | 1 | — | 12 | 50 |
| FY2017 | 19 | $18.8M | $700K | 3 | $5.7M | 22 | 322 |
| FY2016 | 12 | $10.6M | $564K | 2 | — | 14 | 92 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 69 approvals.
Against Florida and the country
| FY2021–FY2025 | Monroe County | Florida | United States |
|---|---|---|---|
| Approvals | 104 | 26,882 | 342,825 |
| Approvals per 1,000 establishments | 25.0 | 41.6 | 41.0 |
| Median 7(a) approval | $250K | $240K | $190K |
| Median 504 approval | $595K | $624K | $657K |
| Average approval | $690K | $609K | $573K |
| 504 share of approvals | 14.4% | 13.4% | 11.0% |
| Jobs supported per approval, as reported | 7.2 | 10.4 | 10.5 |
| Share of state approvals | 0.4% | 100.0% | — |
Approval sizes
- $50,000 or less15.4%16
- $50,001 to $150,00020.2%21
- $150,001 to $350,00022.1%23
- $350,001 to $1 million23.1%24
- $1 million to $2 million8.7%9
- Over $2 million10.6%11
Age of the businesses
- Existing, more than 2 years old64.4%67
- New business, 2 years or less10.6%11
- Startup, loan funds will open the business10.6%11
- Change of ownership14.4%15
Questions and answers
Which lenders make the most SBA loans in Monroe County?
By approvals in FY2021 to FY2025: Readycap Lending, LLC (10), Florida Business Development Corporation (6), TD Bank, National Association (6), Centennial Bank (5), Newtek Bank, National Association (5). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Monroe County?
The median 7(a) approval was $250K and the median 504 approval $595K; the Florida 7(a) median was $240K.
Which industries get the most SBA loans in Monroe County?
Restaurants and Other Eating Places (13); Building Equipment Contractors (6); Other Professional, Scientific, and Technical Services (6); Traveler Accommodation (4); Other Motor Vehicle Dealers (4).
Is SBA lending in Monroe County rising?
Approvals in the three latest complete fiscal years total 62, against 50 in the three before: rising (+24%).
How does Monroe County compare with the rest of Florida?
25.0 approvals per 1,000 establishments against 41.6 statewide, and 104 of the state's 26,882 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error