Loan Usage
Business Development Loans
SBA loans can be used for sales, marketing and business development
Many businesses find it tough to get financing for brand expansion
Many businesses struggle to secure financing for business development and marketing, two critical growth tools. According to the Federal Reserve, 61% of small businesses faced financial challenges in the past year, with marketing and expansion being key areas of need. Many lenders view marketing expenses as high-risk investments, as their returns are often unpredictable and sometimes unmeasurable. This makes it difficult for business owners to obtain the necessary funding to grow their brand and customer base.
Moreover, marketing is often seen as an operational expense rather than an investment in future growth. This perception leads to a lack of dedicated financial products tailored to support strategic marketing campaigns or expansion plans, creating further barriers for entrepreneurs seeking to scale. With business development and marketing being essential for long-term success, finding creative financing solutions is crucial for small businesses to overcome these challenges.
Expand your marketing reach with a working capital loan
The SBA 7a and 504 loan programs are excellent options for small businesses looking to finance their marketing needs. The 7a loan is a versatile option, allowing for up to $5 million in funding that can be used for working capital, including marketing campaigns, digital advertising, and customer acquisition strategies. With long repayment terms of up to 10 years for working capital and competitive interest rates, the 7a loan gives businesses the flexibility to invest in growth without facing immediate financial strain.
The SBA 504 loan, while typically used for larger investments like real estate or equipment, can also be leveraged for marketing initiatives in certain cases, especially if tied to business expansion or modernization. The 504 loan offers long-term fixed rates and up to $5 million in financing, which can help businesses develop robust marketing plans that support broader operational growth.
First Bank of the Lake, a preferred SBA lender, has helped small businesses secure over $1.1 billion in SBA loans, offering personalized guidance through the process. Our expertise in SBA lending ensures businesses can access the capital they need to grow their brand and marketing reach.
The Numbers
in Loans 2024
Largest SBA Lender^
Small Businesses Helped 2020-2024
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The First Bank of the Lake rep and I bonded over faith, fishing and finance. They got my loan done in under 30 days in very, very trying circumstances.
Issac Reed
President, Reed’s Moving Services
If we ever need business capital, my first call would be to First Bank of the Lake. Why would I look elsewhere?
Barry Norfleet
Co-founder, Lifetime Green Coatings - Kentucky
I got my $345,000 SBA loan approved from First Bank of the Lake in 35 days!
Kasia Anderson
President, Woof Gang Bakery - Bradenton, FL
First Bank of the Lake was the best banking experience I have ever had.
Andy
Co-founder, President, Winter Park Ski Rental
The bank process was as easy it could be. The biggest thing is how transparent and reliable they were.
Tyler Green
Co-founder, President, Freelite AZ
My First Bank of the Lake rep was great – Easily the finest banker I have dealt with in my life.
Dan Billings
President, Tint World - San Antonio
Big thanks to Emil and the First Bank of the Lake team. I would recommend them to anyone else in a heartbeat and I would absolutely use them again.
Rock Katnic
President, Perfect Moving
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We made $600MM in SBA loans in the last year alone
