Florida SBA lending market readies itself for more competition

The SBA lending sector, which for some banks has been a profitable and prolific source of activity, is poised to get a bit more crowded. 

In Florida, for starters, two new SBA lending entities have recently entered the market. One is Sanibel Captiva Community Bank, which recently announced it’s expanding to SBA loans, including SBA 7(a) and 504 loans and SBA express lines of credit. The other is Fort Lauderdale-based OptimumBank, which, in a statement, says it seeks to “fund the production of $25 million in SBA loans” in fiscal 2023.