Loan Usage
Franchise Loans
First Bank of the Lake is One of the Largest Providers of SBA Loans for Franchises
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Is the cost of your franchise dream holding you back?
Owning a franchise is an exciting way to start or grow a business, offering brand recognition and a proven business model. However, the costs can be significant, with Initial expenses, such as franchise fees, real estate, equipment, build-out specifications and inventory, can quickly add up.
Franchise fees alone typically range from $20,000 to $50,000, while total startup costs often fall between $100,000 and $500,000. Once operational, franchisees need enough working capital to cover ongoing expenses like payroll, rent, and inventory restocking. Without adequate financing, these costs can strain cash flow, particularly in the early months. Franchisees also face ongoing costs like royalty fees, which typically range from 4% to 12% of gross sales.
Transform Initial Franchise Costs into Long-Term Profits
If the high costs of franchise ownership have you feeling like you’re sinking, don’t panic—SBA loans might just be the lifeline you need. Whether you’re tackling those hefty franchise fees, real estate, or operational cost, SBA loans offer flexible financing options to help you keep your head above water and grow a successful business.
The SBA 7a loan is a flexible financing option for franchise owners. With loan amounts up to $5 million, the SBA 7a loan can be used for most business expenses including franchise fees, real estate, or working capital. With low down payments required and longer repayment terms, these loans are perfect for small business owners needing versatile financing to tackle a wide range of costs.
On the other hand, the SBA 504 loan is your go-to if your franchise dreams involve big-ticket items like real estate or major equipment purchases. This long-term loan offers a fixed rate and favorable repayment terms to help finance large, fixed assets.
At First Bank of the Lake, we’ve helped many franchise owners just like you secure the financing they need. With over $1.1 billion in SBA loans provided, we’ve helped entrepreneurs turn their small business ownership dreams into reality. Whether you’re opening your first franchise or expanding to franchise number five, we’re here to help, let us help your business secure the funds you need for success.
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 Katic
President, Perfect Moving
SBA Industry Loans
We Are One of the Top SBA Franchise Lenders in the U.S.
We made $600MM in SBA loans in the last year alone
