Warehousing is one of the top three fastest growing industries in Florida, with a 9.5% employment growth rate, according to Florida Commerce. With so much expansion, businesses in this sector have plenty of opportunities for growth. To support that growth, Florida warehousing and storage businesses have access to a variety of financing, including commercial real estate loans, equipment financing and invoice factoring, to name a few. These loans are available through traditional banks and credit unions, community banks and online lenders. Check our top picks for warehousing and storage financing in Florida, with a variety of loan types and options for borrowers with a range of credit scores.
Finder’s business loan experts analyzed dozens of lenders that provide financing for Florida businesses in the warehousing and storage sector. We ultimately chose lenders that offer multiple financing products, competitive rates and terms and those that consider borrowers with a range of credit scores, annual revenues and time in business.
Some of the criteria we evaluate include:
Consider the following factors when comparing loan types and lenders.
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How we picked theseThe Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.
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What is your primary need for a business loan?
Here’s a breakdown of some of the different loan types to consider, including common loan amounts, terms and when they make sense.
| Type | Typical loan amounts | Typical term lengths | Best for |
|---|---|---|---|
| SBA Loans | $13,000 to $5 million | Up to 25 years | Established businesses with decent credit that don’t qualify for other types of funding |
| Equipment financing | Up to 100% of the cost of the equipment | 3 to 10 years | Businesses that need heavy equipment or other expensive machinery |
| Term loans | Up to $2 million | 1 to 10 years | Businesses with good credit looking for large loan amounts and predictable monthly payments |
| Business lines of credit | $2,000 to $250,000 | 6 months to 5 years | Businesses looking for fast, short-term funding or want a renewable lending source |
| Microloans | $500 to $50,000 | Up to 6 years | Startup businesses or women- or minority-owned firms |
| Invoice factoring | 70% to 90% of unpaid invoices | 1 to 3 months | Business-to-business (B2B) companies with a lot of outstanding invoices |
| Invoice financing | 70% to 80% of unpaid invoices | 1 to 3 months | B2B companies with a lot of outstanding invoices |
| Merchant cash advances | $5,000 to $200,000 | 3 to 12 months | Retail businesses or others that have a lot of credit card sales |
The exact requirements to qualify for warehousing and storage funding are difficult to pin down because it encompasses a variety of business loan types. But here are some basic criteria you’ll typically need to meet to qualify for business financing in general.
Follow these steps to apply for financing for your warehouse facility.
There are a number of things you can do before applying for warehousing and storage financing to increase your chances of approval.
That depends on your purpose for the loan proceeds. For example, if you need fast funding for working capital, a term loan or business line of credit might be the best choice. Or, if you’re looking to purchase a new space, look into a commercial real estate loan.
In general, a warehouse property is used to store inventory. The warehouse owner may own the inventory or, more likely, store it for other businesses. Warehouse owners may also provide other services related to the distribution of goods, such as labeling, packaging and facilitating transportation arrangements.
Many of the same loan options for warehousing and storage businesses are also available to investors in self-storage facilities. If you’re looking to purchase a facility, a commercial property loan is the way to go. Or you could use a line of credit or invoice factoring if you need working capital to improve your existing property or cover other business needs.
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