By Brian French | TampaBayBusinessNews.com | October 18, 2026
Quick Answer
The Bank of Tampa is the strongest Tampa-headquartered business bank and was the city’s top SBA lender by dollars in 2025. Newtek, Northeast Bank, Huntington and TD made the most SBA 7(a) loans across the metro. Echelon Bank is the region’s newest community bank, and Suncoast and Grow Financial lead Tampa’s credit unions.
Why Tampa Business Banking Deserves a Fresh Look
Tampa Bay is one of Florida’s busiest small business markets, and in 2026 it is also one of its most changed banking markets.
Three shifts stand out. First, the region’s best-known SBA lender, St. Petersburg-based BayFirst, exited SBA 7(a) lending this year, removing a major source of small business credit. Second, Tampa Bay finally saw a new community bank open its doors when Echelon Bank launched in May 2026, ending a five-year drought. Third, another proposed bank, New South Bank, has applied for a charter specifically to serve Tampa Bay small businesses.
Behind those changes is a long-running trend. New South Bank’s organizers say Florida has lost nearly 70 percent of its locally headquartered banks, shifting decision-making away from small business owners.
For Tampa businesses, from Westshore professional firms and Ybor City restaurants to Port Tampa Bay logistics companies, Brandon contractors and USF-area health care practices, the question of where to bank deserves a fresh answer. This guide provides one, using current 2026 financial and lending data.
How We Evaluated Tampa Banks
TampaBayBusinessNews.com assessed banks and credit unions on criteria that matter most to Hillsborough County business owners:
| Criteria | Why It Matters |
|---|---|
| Local ownership and decisions | Faster, flexible credit |
| SBA lending activity | Access to guaranteed loans |
| Financial strength | Stability of your partner |
| Business product depth | Treasury, wealth, merchant tools |
| Branch access | Deposits and service |
| Cost | Fees and loan rates |
This article is general information, not financial advice. Bank products, fees and programs change frequently. Confirm details directly with any institution before opening an account or applying for credit.
Tampa Business Banking at a Glance
| Institution | Best For | Type |
|---|---|---|
| The Bank of Tampa | Locally owned relationship banking | Tampa-based bank |
| Echelon Bank | New-bank, high-touch service | Tampa Bay de novo |
| Newtek, Northeast, Huntington, TD | SBA 7(a) volume | SBA specialists |
| Live Oak, First Internet Bank | Larger SBA loans | National SBA lenders |
| Hancock Whitney, Valley, Seacoast | Regional commercial banking | Regional banks |
| Truist, Chase, Bank of America | Branch access and cash | National banks |
| Suncoast Credit Union | Statewide credit union scale | Tampa credit union |
| Grow Financial | Community credit union banking | Tampa credit union |
1. The Bank of Tampa: Best Tampa-Headquartered Business Bank
The Bank of Tampa is the largest independent bank headquartered in the city and one of the most respected business banks in the region.
It has been privately held by its employees, directors and clients since its inception, a structure that is increasingly rare as Florida banks consolidate. In its first-quarter 2026 call report, the bank reported $3.07 billion in total assets, $2.76 billion in deposits and $1.94 billion in net loans, with a 1.22 percent return on assets and equity capital equal to about 9.3 percent of assets.
The bank operates 13 locations and employs 285 people. Beyond deposits and lending, it runs a wealth management practice with more than $1 billion in assets under care, a valuable combination for business owners who want their corporate and personal finances managed under one roof.
The Bank of Tampa’s small business credentials are strong. In 2025, it was the top SBA 7(a) lender to Tampa businesses by dollar volume, approving $9.8 million across 10 loans at an average rate of 8.82 percent, notably below the citywide average rates charged by many national SBA lenders.
Best for: Established Tampa businesses, professional firms and owner-operators who want a locally owned bank with commercial lending, SBA capability and wealth management.
Consider: Its average SBA loan is relatively large, so very small borrowers may find high-volume SBA specialists more efficient.
2. Echelon Bank: Best New Community Bank
Echelon Bank is Tampa Bay’s newest bank. Headquartered in Clearwater, it was established on May 27, 2026, and operates offices on Bayshore Boulevard in Tampa and in Tarpon Springs. It is the first de novo bank to open in Tampa Bay in five years.
Founder and CEO Rob Shaw has spent nearly 30 years in Tampa Bay banking, including roles at AmSouth/Regions, USAmeriBank, Northern Trust, Signature Bank and Flagship Bank. In its FDIC application, the bank described a plan to serve small and medium-sized businesses and individuals in the Tampa-St. Petersburg area with traditional products and services.
Shaw has framed the bank’s opportunity around consolidation, saying that the shrinking number of local banks creates room for a strong new community bank, and that a billion-dollar bank is a realistic goal in today’s larger Tampa Bay market.
Best for: Business owners who want a new, locally led bank with direct access to senior decision-makers.
Consider: De novo banks are typically subject to closer regulatory oversight in their early years and start with limited lending capacity. Larger borrowers may need a second bank or participation arrangements.
3. New South Bank: One to Watch
New South Bank is not yet open, but Tampa business owners should know about it. In April 2026, its organizers filed applications with the FDIC and the Florida Office of Financial Regulation for a Tampa-headquartered commercial bank built specifically to serve small businesses and their owners.
The proposed bank plans a strong emphasis on small business lending anchored by SBA and USDA-guaranteed loan programs, with a Tampa office supported by a centralized, technology-enabled model. Its proposed chairman and CEO, Kennard Page, is a former senior bank regulator.
With BayFirst’s exit from SBA lending, a Tampa-based bank focused on SBA and USDA programs could fill a meaningful gap, if regulators approve the charter.
4. SBA Specialists: Best for SBA 7(a) Loans
Tampa Bay is one of Florida’s most active SBA markets. In fiscal 2025, the Tampa-St. Petersburg-Clearwater metro recorded 872 SBA 7(a) approvals totaling $434.9 million and 114 SBA 504 approvals worth $124.5 million.
By loan count, the most active 7(a) lenders across the metro that year were:
| FY2025 Lender | Metro Tampa Bay 7(a) Loans |
|---|---|
| Newtek Bank | 90 |
| Northeast Bank | 80 |
| Huntington | 69 |
| TD Bank | 68 |
| BayFirst (now exited) | 47 |
| Live Oak Bank | 32 |
| JPMorgan Chase | 31 |
| Readycap Lending | 30 |
BayFirst’s 47 loans highlight how much SBA capacity left the market. The St. Petersburg bank fully exited SBA 7(a) lending in 2026 to focus on community banking in Tampa Bay and Sarasota. Borrowers who once relied on it will likely turn to the national specialists above.
Who Lent the Most Within the City of Tampa
Within the city itself, Tampa businesses received $147.3 million in SBA 7(a) approvals across 246 businesses in 2025, from 64 active lenders.
| 2025 Lender | Volume | Loans | Avg Rate |
|---|---|---|---|
| The Bank of Tampa | $9.8M | 10 | 8.82% |
| First Internet Bank | $9.4M | 7 | 10.00% |
| Live Oak Bank | $9.2M | 8 | 9.37% |
| Hancock Whitney | $8.4M | 4 | 9.69% |
| Newtek Bank | $7.4M | 19 | 11.08% |
| DFCU Financial | $6.6M | 11 | 9.52% |
| Valley National Bank | $5.3M | 4 | 9.63% |
| Huntington | $4.7M | 17 | 9.97% |
| Bank of America | $4.1M | 9 | 6.93% |
The spread in average rates, from under 7 percent at Bank of America to above 11 percent at some high-volume lenders, is a powerful argument for comparing several offers.
Best for: Business acquisitions, working capital, equipment and owner-occupied real estate.
Consider: Many SBA specialists operate with little local branch presence, so pair them with a Tampa operating bank.
5. SBA 504 Lenders: Best for Buying Your Building
With Tampa commercial real estate prices up sharply over the past decade, many business owners are weighing whether to buy their space. SBA 504 loans combine a bank first mortgage with fixed-rate financing from a Certified Development Company and can require as little as 10 percent down.
The Florida Business Development Corporation was the most active 504 lender in metro Tampa Bay in fiscal 2025, with 68 loans totaling $59.05 million. Florida First Capital Finance is also active and lists October 2026 effective rates of 6.98 percent for a 25-year fixed 504 loan.
Best for: Businesses buying offices, warehouses, medical space or retail property.
6. Regional Banks: Best for Growing Commercial Clients
Tampa is served by a deep bench of regional banks with dedicated commercial teams. Hancock Whitney, Valley National Bank and Seacoast National Bank all ranked among the city’s leading SBA lenders by volume in 2025. Miami-based Amerant has also been expanding into Tampa, opening its second Tampa banking center downtown in October 2025.
Regional banks often suit businesses that have outgrown smaller community banks but still want a relationship manager rather than a call center.
Best for: Companies with $2 million or more in revenue, commercial real estate investors and multi-location businesses.
Consider: Credit decisions may involve regional underwriting teams outside Tampa.
7. National Banks: Best for Branch Access
For restaurants, retailers, hospitality businesses and others that handle cash daily, large national banks such as Truist, JPMorgan Chase, Bank of America, Wells Fargo, Regions and Fifth Third offer the most extensive Tampa Bay branch networks.
National banks are also active SBA lenders. JPMorgan Chase made 31 SBA 7(a) loans in metro Tampa Bay in fiscal 2025, and Bank of America offered the lowest average SBA rate among top city lenders.
Best for: Cash-heavy and multi-state businesses.
Consider: Centralized underwriting can be less flexible for unconventional borrowers.
8. Suncoast Credit Union: Best for Statewide Scale
Suncoast Credit Union, headquartered in Tampa, is Florida’s largest credit union, with $17.47 billion in assets, about 1.3 million members and 79 branches as of 2025. It began in 1934 as Hillsborough County Teachers Credit Union.
For Tampa businesses, Suncoast offers credit union pricing combined with a branch network that spans much of the state, a rare combination.
Best for: Small businesses that want lower fees and broad statewide access.
Consider: Credit unions face federal caps on total business lending, so very large commercial loans may require a bank.
9. Grow Financial: Best Community Credit Union
Grow Financial Federal Credit Union was founded in 1955 to serve personnel at MacDill Air Force Base and is headquartered in Tampa. It reports about $3.9 billion in total assets and serves nearly 300,000 members across 26 locations in West Central Florida and South Carolina, offering both personal and business banking.
Grow has also been active in the community, committing $1 million to help Tampa Bay communities recover after Hurricanes Helene and Milton.
Best for: Small businesses, sole proprietors and military-connected business owners.
Consider: Compare its business product menu against banks if you need specialized treasury or international services.
Matching the Right Bank to Your Tampa Business
| If Your Business Is | Consider |
|---|---|
| An established professional firm | The Bank of Tampa |
| Seeking a new local bank | Echelon Bank |
| Applying for a smaller SBA loan | Newtek, Northeast, TD, Huntington |
| Seeking a larger SBA loan | Live Oak, First Internet, Bank of Tampa |
| Buying a building | SBA 504 CDC plus a local bank |
| A cash-heavy restaurant or retailer | Truist, Chase, Bank of America |
| A sole proprietor or freelancer | Suncoast, Grow Financial |
| Growing past $2 million in revenue | Hancock Whitney, Valley, Seacoast |
Restaurants and Hospitality
Full-service restaurants have been Tampa’s most heavily funded SBA category. Restaurant owners should prioritize merchant services, convenient cash deposits and lenders experienced with restaurant SBA loans.
Port Tampa Bay and Logistics
Freight, warehousing and distribution businesses need working capital lines, equipment financing and efficient international payments. Regional banks with commercial teams are often the best fit.
Health Care Practices
Medical and dental practices near Tampa General, USF Health and the Westshore corridor often benefit from practice-acquisition SBA loans and owner-occupied 504 financing.
Contractors and Trades
Hillsborough’s construction boom has created thousands of contractor businesses that need equipment loans, lines of credit and banks familiar with bonding and project-based cash flow.
Questions to Ask Any Tampa Bank
- Is the bank locally owned, and where are credit decisions made?
- Are you an SBA Preferred Lender, and how many Tampa SBA loans did you close last year?
- Has the bank changed any lending programs recently? BayFirst’s SBA exit is a reminder to ask.
- What are the monthly fees, and how can they be waived?
- How many cash deposits are included each month?
- What treasury, merchant and wealth services are available?
- How is the bank performing financially?
- Is my money FDIC- or NCUA-insured, and up to what limits?
Brian’s Take
Tampa Bay is home for me and for the Florida Authority Network, so I watch this banking market closely. And as a former money manager, the trend that concerns me most is the one New South Bank’s organizers put a number on: Florida has lost nearly 70 percent of its locally headquartered banks.
That matters more than most business owners realize. When the bank that knows your business is acquired, your next loan request may be reviewed by an underwriter in another state who has never driven down Dale Mabry. And when a lender exits a program entirely, as BayFirst did with SBA loans this year, borrowers who depended on it have to start over.
The encouraging news is that Tampa still has The Bank of Tampa, a locally owned bank with more than $3 billion in assets and a strong SBA record, plus credit unions like Suncoast and Grow, and now new entrants like Echelon, with New South Bank potentially on the way. That is more local choice than many Florida markets have.
My advice: build a relationship with at least one locally headquartered institution before you need to borrow, shop SBA lenders separately because rates in Tampa ranged from under 7 percent to over 11 percent in 2025, and once your business reaches meaningful size, keep a second banking relationship as a backup. In portfolio terms, that is simply diversification.
Frequently Asked Questions
What is the best bank for small businesses in Tampa?
The Bank of Tampa is the strongest Tampa-headquartered business bank and was the city’s top SBA lender by dollar volume in 2025. Newtek, Northeast Bank, Huntington and TD Bank made the most SBA 7(a) loans across the metro. Suncoast and Grow Financial are leading credit union options.
What is the newest bank in Tampa Bay?
Echelon Bank, headquartered in Clearwater with an office on Bayshore Boulevard in Tampa, was established in May 2026 as the first de novo bank in Tampa Bay in five years. New South Bank has applied for a charter but is not yet open.
Who makes the most SBA loans in Tampa Bay?
In fiscal 2025, Newtek Bank made the most SBA 7(a) loans in the Tampa-St. Petersburg-Clearwater metro with 90, followed by Northeast Bank, Huntington and TD Bank.
Does BayFirst still make SBA loans?
No. BayFirst exited SBA 7(a) lending in 2026.
What is the largest credit union in Tampa?
Suncoast Credit Union, headquartered in Tampa, is Florida’s largest credit union with about $17.5 billion in assets.
Is The Bank of Tampa locally owned?
Yes. The Bank of Tampa has been privately held by its employees, directors and clients since its inception.
Tampa Business Banking Snapshot
| Detail | Data |
|---|---|
| The Bank of Tampa assets (Q1 2026) | $3.07 billion |
| Metro SBA 7(a), FY2025 | 872 loans, $434.9M |
| Metro SBA 504, FY2025 | 114 loans, $124.5M |
| City of Tampa SBA 7(a), 2025 | $147.3M, 246 businesses |
| Top metro lender by count | Newtek Bank (90) |
| Newest local bank | Echelon Bank (May 2026) |
| Largest Florida credit union | Suncoast ($17.47B) |
Sources and Further Reading
- The Bank of Tampa call report summary, VisBanking
- The Bank of Tampa profile and financials, DepositAccounts
- The Bank of Tampa member profile, Tampa Bay Chamber
- “Best Tampa, FL SBA Lenders & Rates of 2026,” GoSBA Loans
- “The Tampa Feasibility Market: SBA, USDA and Its Structural Variables,” MMCG Invest, 2026
- “Best SBA Lenders in Tampa, FL – 2025 Rankings,” GoSBA Loans
- Echelon Bank call report and branch data, VisBanking
- “De Novo Banks Gain Momentum—But Not All Are Community Banks,” BauerFinancial, 2026
- “Veteran Bankers See Opportunity Amid Surge of Industry Consolidation,” Business Observer, January 2026
- “Spotlight On: Rob Shaw, President & CEO, Echelon Bank,” Invest: Tampa Bay, April 2026
- Echelon Bank FDIC deposit insurance order, Federal Deposit Insurance Corporation
- “New South Bank Files Applications to Launch Tampa-Based Bank,” New South Bank, April 20, 2026
- “Former Industry Regulators Lead Group Launching New Tampa Bank,” Business Observer, April 2026
- BayFirst Financial Corp. Q2 2026 earnings call transcript, 2026
- Amerant Bancorp Inc. Form S-3, U.S. Securities and Exchange Commission, 2026
- “Suncoast Credit Union,” Wikipedia
- Grow Financial Federal Credit Union company profile, CB Insights
- Grow Financial call report data, CU Helper
- Florida First Capital Finance Corporation SBA 504 rates and program information
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