Miami Gardens is a city located in north-central Miami-Dade County, Florida. The city is situated between Miami and Hollywood. As of the 2010 census, the city had a population of 109,680. The city is home to the Miami Dolphins, who play at Hard Rock Stadium.
Miami Gardens is a diverse city with a strong economy. The city's major industries include tourism, agriculture, construction, manufacturing, and logistics. Miami Gardens is also home to many small businesses. According to the Small Business Administration, small businesses make up 99.7 percent of all businesses in the city.
The city's economy is strong and growing. In recent years, the city's GDP has increased by an average of 4.5 percent per year. The city's unemployment rate is 3.4 percent, which is lower than the national average. The median household income in Miami Gardens is $61,000, which is higher than the national average.
Miami Gardens is a great place to start a small business. The city offers a variety of resources and programs to help small businesses succeed. The city's Small Business Development Center offers free or low-cost counseling and training to small business owners. The city also offers a Business Incentive Program, which provides financial assistance to businesses that create new jobs or make investments in the city.
Comparing SBA loan types in Miami Gardens
Three SBA programs come up most often for Miami Gardens, Florida businesses, and they do different jobs.
SBA 7(a) loan: program overview
Maximum loan
$5 million (sba.gov, fetched 2026-07-24)
What it funds
Working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and business acquisition.
Who lends
Participating banks and non-bank lenders. The SBA guarantees a portion of the loan; it does not lend directly to borrowers.
Rate structure
Negotiated between lender and borrower, capped at the SBA maximum. Most 7(a) loans price off the WSJ prime rate plus a spread.
Personal guaranty
Required from every owner of 20% or more of the business (13 CFR 120.160(a)).
Program facts confirmed against sba.gov/funding-programs/loans/7a-loans on Jul 24, 2026. Confirm current fees and maximum rates with your lender before relying on them.
SBA 504 loan: program overview
Maximum loan
$5.5 million per the SBA-backed debenture (sba.gov, fetched 2026-07-24). Total project size can be larger because a bank funds the first mortgage alongside it.
What it funds
Major fixed assets: owner-occupied commercial real estate and long-life machinery and equipment. Not working capital or inventory.
Structure
A conventional first-mortgage lender, a Certified Development Company holding the SBA-backed second, and a borrower down payment.
Rate
The CDC portion is fixed for the full term and set at the monthly debenture sale.
Program facts confirmed against sba.gov/funding-programs/loans/504-loans on Jul 24, 2026.
SBA Express: program overview
What it is
A delivery method inside the 7(a) program. The lender uses its own forms and procedures and gets an accelerated SBA response, in exchange for a lower SBA guarantee percentage than Standard 7(a).
What it funds
The same uses as 7(a), including revolving lines of credit, which Standard 7(a) term loans do not offer.
Trade-off
Faster turnaround and lighter paperwork, against a smaller guaranteed portion, which some lenders price for.
Current SBA Express maximum loan size and guarantee percentage are set by SBA notice and change. Confirm them on sba.gov or with your lender; this site does not publish an unverified figure.
Small business loans available in Miami Gardens
An SBA 7(a) loan made to a Miami Gardens, Florida business is made by a participating lender, not by the SBA.
The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is
which lenders are active, not the program rules.