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First Bank of the Lake Logo
FDIC Digital Sign, using the official FDIC wordmark. This digital sign indicates the deposit institution is backed by the full faith and credit of the US government.
Buy-Sell Agreements

Buy-Sell Agreements

What Do Buy-Sell Agreements Cover? Successfully owning and operating a business comes down to preparation and follow-through. One area you may not be considering when you’re building your company is what happens if you or another part owner dies or becomes...
Why Revenue Isn’t the Best Measure for Startup Success

Why Revenue Isn’t the Best Measure for Startup Success

How Can You Measure Your Company’s Performance? In the world of startups and entrepreneurial ventures, success is often equated with revenue, as many small business owners and investors prioritize revenue growth as the ultimate indicator of their company’s...
Best Practices for Establishing a Succession Plan

Best Practices for Establishing a Succession Plan

Plan Ahead for the Continuity of Your Business The concept of business succession is having a unique moment of public interest thanks to the popular television series. But if you run a business, the need for a succession plan is very real and very important. Taking...
What Lenders are Looking for in a Soft Economy

What Lenders are Looking for in a Soft Economy

Tips From the Pros As business activities slow down, lenders shift their focus toward specific aspects when evaluating financing requests. In such times, lenders scrutinize certain items more closely to assess the viability of providing funds. Let’s discuss four...
Speed Up Your Business Acquisition Loan Closing

Speed Up Your Business Acquisition Loan Closing

Tips From the Pros It shouldn’t come as a huge surprise, but getting a business acquisition loan is a somewhat lengthier and more involved process compared to other types of financing. Your lender needs to evaluate more than just you; they also need to assess the...