News Summary
Troy Warren, an entrepreneur from Florida, has successfully revitalized his charter fishing business, Miller Time Sportfishing, thanks to a partnership with the Florida SBDC at FIU and Lendistry. After facing financial challenges following a major mechanical failure of his fishing vessel, Warren sought assistance that led to efficient financing options and guidance on business sustainability. This collaboration exemplifies the support available to small businesses in Florida, especially those run by underfunded entrepreneurs. Warren’s journey highlights the importance of leveraging local resources for business success and growth.
Troy Warren, an entrepreneur from Florida, credits his revived charter fishing business to a partnership between the Florida Small Business Development Center (SBDC) at Florida International University and Lendistry. His business, Miller Time Sportfishing, is reaching new heights after overcoming substantial financial challenges that threatened to close its doors.
Warren faced a dire situation when his fishing vessel suffered a catastrophic mechanical failure, which required an extensive rebuild that could have spelt the end for the operation. Initially, he sought assistance from his bank but was referred to the SBDC, where Bonnie Barnes conducted a thorough assessment of his business needs.
With Barnes’ guidance, Warren was directed to Lendistry for financing, expediting an otherwise lengthy process. He noted a significant improvement in efficiency compared to his earlier attempts to secure an SBA loan, leading to a collaborative effort to stabilize and enhance his business operations.
Lendistry, known for its support of underfunded entrepreneurs, stepped in to assist Warren at a critical time. The organization has successfully financed over 21,000 businesses in Florida and is recognized as one of the leading providers of SBA 7(a) loans in the state. Founded in 2015, Lendistry focuses on empowering entrepreneurs, including minorities, veterans, and individuals in rural areas, by providing essential funding and resources.
In addition to securing financing, the partnership explored Warren’s exit strategy as he considers retiring in five years. Plans were made for potential upgrades to his boat, with an eye towards maximizing the business’s performance in anticipation of a future sale.
The Florida SBDC at FIU, in collaboration with Lendistry, is committed to connecting with local businesses, which is evidenced by the upcoming Florida SBDC Small Business Success Summit scheduled for August 18-19, 2025. This event aims to foster relationships between lenders and business owners, enhancing opportunities for financial support and growth.
Lendistry has deployed over $10 billion in funding in its first decade and is currently the second-largest non-bank SBA 7(a) lender in the United States. It has received numerous accolades, including the LA Area Chamber of Commerce Corporate Leadership Award and recognition by American Banker as one of the Best Places to Work in Fintech. The organization also holds accolades as a Community Development Financial Institution (CDFI) and Community Development Entity (CDE), further enhancing its credibility within the lending space.
The partnership between the SBDC and Lendistry proves crucial in times of crisis, providing not just funding but also a roadmap for business sustainability and growth. By focusing on the needs of entrepreneurs like Troy Warren, they are actively supporting the economic recovery and vitality of Florida’s small business sector.
Warren’s experience underlines the importance of seeking out relevant resources and professional guidance when facing challenges in the competitive landscape of charter fishing—a sector notably robust in areas like Islamorada, often hailed as the “sport fishing capital of the world.” The collaboration between organizations like the SBDC and Lendistry demonstrates how targeted support can yield transformative outcomes for small businesses striving to thrive amidst challenges.
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Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
