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SBA 7A Loans: 7A Loan Rates and SBA 7A Loan Requirements

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SBA 7a Loans: How They Can Help Your Small Business Succeed

Finding the right funding solutions for your small business can be challenging. Small Business Administration 7a loans offer low interest rates and fixed-rate or variable-rate options.

A 7a loan can be used for a wide variety of business purposes, including equipment, the purchase of new properties, working capital and for other operating expenses. An SBA 7a loan can provide your company with much-needed financial flexibility that can create a solid foundation for future success.

Understanding the SBA 7a process can help your small business to access necessary funds at reasonable interest rates. This guide will offer answers and insights into some of the most common questions borrowers ask about SBA 7a loans:

What is a SBA 7a loan?
How do I apply for a SBA 7a loan?
How are SBA 7a loan rates determined?
Where can I find SBA 7a loan lenders?
What are common SBA 7a loan terms?
What are the SBA 7a loan requirements?
What is the most accepted SBA 7a loan definition?

First Bank of the Lake offers flexible funding for SBA small business loans. Working with a trusted lender to provide funding for your 7a loan is the best way to navigate the requirements of these loans and to achieve greater success in your business operations now and for years into the future.

What Is an SBA 7a Loan?

The Small Business Administration (SBA) offers a variety of programs designed to assist small businesses in the United States. The 7a loan program is the primary method used by the SBA to provide funding for small businesses. These small business loans offer greater flexibility in how they can be used compared to SBA 504 loans. This added flexibility can be a valuable advantage for companies looking for funds for managing operating expenses as well as for major acquisitions of property and equipment.

Because every small business and borrower is different, there is no single SBA 7a loan definition that applies to every case. In general, borrowers must meet SBA 7a requirements to qualify for these loans. A few factors that may determine the SBA 7a loan rates are the size of the loan and whether the rate is fixed or variable. SBA 7a loan terms, such as the loan maturity, vary depending on the use of proceeds and the borrower’s ability to repay.

What Can 7a Loans Be Used for?

SBA 7a loans can be used for a wide range of business-related purchases and activities, including the following:

Acquiring real estate: A 7a loan can be used to purchase buildings or unimproved real estate to be used for business purposes.
Improving real estate holdings: Upgrading or renovating your current business premises is also an allowable use for SBA 7a funds.
Purchasing equipment: 7a loans can be used to purchase new or used equipment for your business operations.
Purchase an existing business or expand your business: If you are looking to expand your business or own your first business, an SBA 7a loan may be just right for you.
Updating technology for your business: Staying current with technological developments can be a costly endeavor. A 7a loan can be used to update or acquire software or hardware to assist in your business activities.
New construction and tenant improvements: The funds can be used for small or extensive tenant improvements or construction to a business property.
Refinancing your current business debt: Unlike most SBA 504 loans, a 7a loan can be used to refinance existing business debt at a lower rate or with more favorable repayment terms and conditions. This can often provide some valuable financial breathing room for small businesses.
Onboarding and training for new staff members: SBA 7a funds can also be used to hire and train new employees for your business enterprises.
Purchasing fixtures and furnishings: Furnishing your office spaces and making sure that they are functional and attractive can be part of the ongoing success of your business. A 7a loan could be a useful option for acquiring these necessities for your company.
Working Capital: Part of the loan proceeds may be applied for working capital with a 7a loan.
Any combination of these activities: Your SBA 7a loan can be used to fund more than one type of business activity. A 7a loan is a great option for small businesses that can combine multiple funding needs into a single, generally lower cost lending package.

Details of the terms of SBA 7a loans are available online through the Small Business Administration website. If you are planning to apply for a SBA 7a loan, this online resource can provide you with detailed information on 7a loan requirements and how to apply for a SBA 7a loan.

How Do 7a Loans Work?

Unlike SBA 504 loans, a Certified Development Corporation (CDC) is not a part of the SBA 7a loan definition. The SBA does not

lend money to small businesses directly. Instead, it guarantees a portion of the loan to increase the chance that SBA 7a lenders will provide funds for these loans. The lender negotiates the SBA 7a loan rate with the borrower, subject to SBA’s maximum allowable 7a loan rates. 7a lenders work with the SBA to determine what percentage of the loan can be guaranteed by the government agency. For loans up to $150,000, the SBA can guarantee 85 percent of the loan. A 7a SBA loan that is over $150,000 is eligible for a 75-percent guarantee from the SBA. The process to apply for an SBA 7a loan involves the following steps:

The first step for most borrowers is to find SBA 7a loan lenders who are qualified to fund these types of loans.
The borrower will be asked to submit a SBA 7a loan application and supporting paperwork to verify their income, business operations and other aspects of their small business.
7a lenders will determine if the borrower meets minimum SBA 7a loan requirements.
7a lenders will work with the borrower to determine their needs and qualifications for a 7a loan. The lender will also set the interest rate using the guidelines provided by the SBA 7a loan program and published by the Small Business Administration.
Once the borrower is approved for a SBA 7a loan, funding and disbursement will be processed by the SBA 7a lender.

Understanding how to apply for an SBA 7a loan can help borrowers access the funds they need while enjoying the benefits of low SBA 7a loan rates. By choosing a Small Business Administration 7a loan, small business owners have improved access to the financing and resources necessary for effectively expanding and growing their businesses. The right 7a lenders can provide support throughout the process, including guidance on how to apply for an SBA 7a loan and information on general SBA 7a requirements. We can walk you through the best SBA loan options for your specific situation.

What Are the Eligibility Requirements for 7a Loans?

Before you apply for a SBA 7a loan, you should go over the SBA 7a loan requirements. Some of the most important SBA 7a requirements are listed here:

Must be located in the United States
Must meet the SBA definition of a small business
Must be operating legally
Must be a for-profit business
Must demonstrate the ability to repay the loan
Must show that the funding needed cannot be obtained on reasonable terms through other lenders
Must have an acceptable credit history or credit score both for the business and for owners of the small business
Must not be an ineligible business as outlined in the Code of Federal Regulations Title 13, Chapter I, Part 120. See below for more details.

Even for businesses that meet all current SBA 7a loan requirements, SBA 7a lenders have different risk appetites. Additionally, the SBA 7a loan rate may be higher for borrowers with poor personal or business credit history. Some borrowers will fail to qualify for SBA 7a loans based on past negative activity on their credit reports. Finding the best SBA 7a lenders for your small business can allow you to enjoy the benefits of this government-backed loan program with greater confidence.

Businesses That Are Ineligible for SBA 7a Loans

Certain types of small businesses are ineligible to apply for a SBA 7a loan regardless of their size or credit rating. The following types of businesses cannot qualify for SBA 7a funding options:

Not-for-profit businesses
Lending companies, including banks, finance companies and factors
Most passive businesses
Companies that derive more than one-third of their annual gross revenues for the prior year from legal gambling
Businesses that are engaged in illegal activity
Life insurance companies
Companies not located in the United States
Speculative businesses, including oil wildcatting
Those engaged in political or lobbying activities
Businesses that have previously defaulted on a loan from the U.S. government
The production or sale of pornography
Businesses using pyramid sales distribution plans

In general, SBA 7a loan requirements rule out eligibility for businesses that participate in any of these activities.

How to Get a 7a Loan

Understanding how to apply for a SBA 7a loan can increase your chance of success in acquiring funding through the 7a loan program. A few added steps can often make a big difference in how SBA 7a loan lenders regard your application and on your ability to qualify when you apply for a SBA 7a loan:

Gather your paperwork in advance: When figuring out how to get a SBA 7a loan, you will need to go over your company's documentation to ensure that it is all in order. As part of the Small Business Administration 7a loan application, review, and approval process, your lender will request various personal and business financial information to determine your business’ qualifications. By making sure all of this paperwork is in place and correct, you will be able to streamline the application, review, and approval processes for SBA 7a requirements.
Clean up your credit report: A healthy credit score is an important element in qualifying for the SBA 7a loan program. Lenders who work with the Small Business Administration 7a program can factor in consumer credit bureau data, borrower financials, and application data. Taking a little time to clean up any errors or problems with your credit score can go a long way toward meeting the expectations of 7a lenders.
Reduce debt-to-income ratio: While it may not always be possible for small business owners to pay down debt before making an application to the SBA 7a loan program, doing so can often increase the chance of obtaining a loan from SBA 7a loan lenders. Putting off your SBA 7a loan application until you can reduce the amount owed to other creditors may be the best way to impress SBA 7a lenders with your ability to repay your 7a loan.
Build a better business plan: You may need to submit your business plan as part of your SBA 7a loan application. Making sure this key document is as accurate and appealing as possible can help you impress SBA 7a lenders who may be interested in funding your small business.
Update your financial statements: Making sure your financials are in order before applying will help streamline your application process with SBA 7a loan lenders. Whether using a CPA or accounting software, make sure your financial reporting is current and accurate.
Select the right lender: SBA 7a loan lenders vary significantly in their tolerance to risk and the support they provide for their customers. By partnering with SBA 7a lenders who can offer guidance on obtaining a 7a loan and insights into the SBA 7a loan program, a borrower can increase the likelihood of success in applying for these government-backed loans.

Some Key Stats on the SBA 7a Loan Program

The SBA 7a loan program is named after Section 7a of the Small Business Act of 1953. Today, the program serves small businesses throughout the United States and offers relatively low-interest options for those who can meet SBA 7a loan requirements. Some of the most recent and relevant statistics on SBA 7a loans are listed here:

The SBA issued $27.5 billion in 7a loans in fiscal year 2023.
During this time period, more than one-fourth of the funding issued by the SBA under the 7a loan program went to female-owned businesses.
In fiscal year 2023, more than 57,000 SBA 7a loan applications were received and approved by the agency.
The average amount for an approved SBA 7a loan application during that time was $479,685.

SBA 7a Success Stories

The 7a loan program has provided funding for some of the most successful companies in the United States. Here are some of the better known SBA 7a success stories:

Cerner Corporation: Based in Kansas City, Missouri, Cerner Corporation is an undisputed leader in the medical system design field. The company received a 7a loan for $200,000 to kick-start its success.
Ruiz Foods: The producer of well-known frozen food brands El Monterey and Tornados, Ruiz Foods out of Dinuba, California, qualified for and received 7a loans amounting to $275,000.
Allen Edmonds Shoe Corporation: Based in Port Washington, Wisconsin, Allen Edmonds is a rare company that still domestically manufactures the shoes they sell. The company attributes some of its success to 7a SBA loans amounting to more than $2 million.

SBA 7a Loan Types

7(a) Loans
Maximum Loan Amount	$5 million
Percent of Guaranty	85% guaranty for loans of $150,000 or less; 75% guaranty for loans greater than $150,000 (up to $3.75M maximum guaranty)
Eligible Use of Proceeds	Term Loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, leasehold improvements; working capital; refinance debt for compelling reasons; for inventory or starting or purchasing a business. Only owner-occupied commercial real estate is eligible.
Maturity	Depends on ability to repay. Generally, working capital not to exceed 10 years; Equipment, fixtures, or furniture not to exceed 10 years. Except term may be up to 15 years if IRS asset class useful life supports longer term. Lender must document in credit memo justification of any term that exceeds 10 years; real estate up to 25 years. No balloons or demand features permitted.
Maximum Interest Rates	Effective Aug. 1, 2022 $50,000 or less Prime + 6.5% $50,001 - $250,000 P + 6% $250,001—$350,000 P + 4.5% $350,001 and greater P + 3% Fixed Rate: See Downloads and Resources section.
Who Qualifies	Must be a for-profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business. Prepayment penalty for loans with maturities of 15 years or more if prepaid during first 3 years. (5% year 1, 3% year 2 and 1% year 3)
Benefits to Borrowers	Long-term financing; Improved cash flow; Fixed maturity; No balloons; No prepayment penalty (under 15 years)

7(a) Small Loans Is any 7(a) loan $500,000 and under, except the Community Advantage and Express loans
Maximum Loan Amount	$500,000
Percent of Guaranty	Same as 7(a) Loans
Eligible Use of Proceeds	Same as 7(a) Loans
Maturity	Same as 7(a) Loans
Maximum Interest Rates	Same as 7(a) Loans
Who Qualifies	Same as 7(a) Plus, all loan applications will be credit scored by SBA. If not an acceptable score, the loan can be submitted via full standard 7(a) or Express.
Benefits to Borrowers	Same as 7(a) Loans

SBA Express
Maximum Loan Amount	$500,000
Percent of Guaranty	50% regardless of loan amount.
Eligible Use of Proceeds	May be used for revolving lines of credit (must have term-out period not less than draw period) or for a term loan.
Maturity	LOC: Max period Revolver = 60 mo.; Max term out period = 60 mo. For total of 10 yrs. Term loan: same as 7(a)
Maximum Interest Rates	Same as 7(a) Loans
Who Qualifies	Same as 7(a) Loans
Benefits to Borrowers	Fast turnaround; Streamlined process; Easy-to-use line of credit

Borrowers can choose from several SBA 7a loan types when applying for funding through SBA 7a lenders. Some of the top SBA 7a programs are explained here:

7a Standard Loans: As one of the most common of the SBA 7a loan types, this program offers 85-percent guarantees for loans of $150,000 or less and 75-percent guarantees from SBA for loans over $150,000 and up to $5 million and allows for a wide range of eligible use of proceeds.
7a Small Loans: 7a lenders also offer small loans of $500,000 and under. The percentages guaranteed by the SBA to 7a lenders is the same as for standard 7a loans. SBA 7a requirements may be more streamlined under a 7a small loan program.
7a Express Loans: The SBA Express Loan program features a maximum loan amount of $500,000 with a 50-percent guarantee provided by the SBA. Revolving lines of credit may be available for up to five years of a 10-year overall duration. 7a lenders decide whether borrowers qualify for these 7a loans.

Other SBA 7a programs include the Export Working Capital Program, 7a International Loans, and CAPlines. Pilot loan programs have also been introduced by the SBA and 7a lenders to assist small businesses located in depressed or underserved markets. Also known as Community Advantage loans, these SBA 7a loan programs expired in September of 2023.

Key Qualifications and SBA 7a Loan Requirements

What does it take to qualify for a SBA 7a loan? Although your tangible net worth, including affiliates, may not exceed $15 million and your average net income, including affiliates, must be under $5 million after Federal income taxes for the two full fiscal years before your SBA 7a loan application, demonstrating that your company has consistent revenue streams and manages its funds well can go a long way toward ensuring a positive outcome for your SBA loan application.

Pros and Cons of SBA 7a Loans

In most cases, SBA 7a loan terms and interest rates are better than or comparable to those available from commercial lenders. Some of the most important pros and cons of these loans are listed here.

Pros of 7a Loans

May be easier to qualify than some traditional loans: Because SBA guarantees a portion of the loan, lenders may be more willing to approve loans that would not otherwise receive funding. For example, one of the main reasons lenders use the SBA 7a loan program is it allows access to credit for borrowers that demonstrate repayment ability but lack adequate collateral to repay the loan in full in the event of default.
Low interest rates: For most small business borrowers, the interest rates for SBA 7a loans are lower than those available in the commercial lending marketplace. This is one of the best reasons to consider an SBA 7a loan for your business funding needs.
Longer repayment terms: With repayment terms up to 25 years, SBA 7a loans offer superior flexibility for companies looking for financing.

Cons of 7a Loans

Equity: If there is a collateral shortfall, the SBA may require the 7a lender to take available equity in the personal real estate of any owners of 20% or more of the business and guarantors.
Requires good credit score: Companies that have had credit difficulties in the past may find it difficult to qualify for SBA 7a loans.
Approval times can be lengthy: Unless you opt for an SBA Preferred Lender, you may experience long wait times for approval and disbursement of your funds.

Understanding SBA 7a Loan Rates

Your SBA 7a loan interest rate will determine the overall amount you will pay over the duration of your loan. As a result, your SBA 7a loan rate is one of the most important determinants of how much you will pay for your SBA 7a loan. The maximum amounts allowed for fixed or variable SBA 7a loan rates are posted by the SBA. Currently, the maximum SBA 7a loan rates allowed range from Prime plus 3% to Prime plus 6.5%, depending on the loan amount.

Your lender will look at current SBA 7a loan rates and factor in the risk associated with your Small Business Administration 7a loan. In general, however, lenders cannot exceed the maximum SBA 7a loan rate established by the Small Business Administration 7a program.

By working with the best 7a lenders, you can find the right SBA 7a loan terms and SBA 7a loan rates for your unique business situation.

SBA 7a Loan Terms

Understanding how a 7a loan works can allow small business owners to determine if a SBA 7a loan is the right choice for their business’ needs. These terms generally apply to SBA 7a loans:

Small business owners who qualify can borrow up to a maximum of $5 million.
A guarantee fee set by the lender using SBA guidelines will be assessed.
Both fixed-rate and variable-rate options are available for SBA 7a loans. In both cases, SBA 7a loan rates are competitive. The SBA sets maximum interest rates and publishes them online. Smaller loans usually require higher SBA 7a loan rates than larger 7a loans.
7a lenders may charge reasonable fees for packaging and other services. However, the borrower may not be charged for the same service by two different entities.
The 7a lender is required to advise the borrower that they are not required to obtain or pay for unwanted services.
Balloon payments are not allowed on SBA 7a loans.
Repayment terms for most 7a loans must not exceed 10 years. A few other scenarios, including real estate loans, the repayment time frame must not extend past 25 years.
A personal guarantee from all owners with a stake of more than 20 percent is also required for SBA 7a loans.

If you are considering a Small Business Administration 7a loan, understanding the allowable uses of these funds can help you determine if a 7a loan is the right option for you and your business.

SBA 504 vs 7a vs Conventional Loans

SBA 504 loans are designed for the purchase of large-scale capital assets that include equipment and real estate. By contrast, 7a loans are available for a wider range of business funding needs. Typically offering lower interest rates and more favorable repayment terms than conventional loans, SBA 7a loans offer flexibility. Choosing the suitable option for your small business hinges on factors such as your credit score, the purpose of the funds, and your company’s eligibility for SBA lending programs.

What Are the SBA 7a Loan Limits and Maximum Amounts?

For SBA 7a loans, the maximum amount you can borrow is $5 million. Most small business borrowers, however, will not qualify for amounts that high. Applying for a 7a loan that is correctly sized to meet your needs without overburdening your company with debt is essential to maintain your success and growth in the competitive marketplace.

Navigating the SBA 7a Loan Process

Applying for a loan with the SBA can be stressful for some small business owners. The process can sometimes be drawn out and slow. However, by following these steps, you can often achieve the best possible results when working with 7a lenders to qualify for these funding options:

Visit the SBA website: To learn more about SBA 7a loan terms and conditions, visit the SBA website to learn more about their full lineup of loans and to learn whether 7a loans are a viable option for your small business.
Determine the size of your down payment: Understanding the various SBA 7a loan requirements for down payments can help you avoid unpleasant surprises later on in the process. Before you apply, make sure you have at least 10 percent of the amount you need to borrow. This is especially true if you are planning a major acquisition or are a start-up business.
Decide what the funds will be used for: You will need to provide detailed information on what you plan to do with your 7a loan funds to your lender.
Check your credit report: Small problems or mistakes on your credit report could trigger increases in the interest rate you are offered for your 7a loan. Correcting these mistakes before you apply can often save you money that can be used for other vital business activities.
Monitor the prime rate: Since interest rates for SBA 7a loans are based on the prime rate, keeping an eye on fluctuations in the prime rate can allow your business to take advantage of lower rates when they occur. This is especially important for fixed-rate SBA 7a loans.
Select a lender: The right lender can make a significant difference in the borrowing experience for you and your company. Choosing an SBA Preferred Lender like First Bank of the Lake can streamline the application and approval process. This can significantly reduce the time it takes from application to disbursement of funds for approved loans, because SBA Preferred Lenders have the ability to approve loans without waiting for SBA approval.
Gather your paperwork: You will need to submit income tax returns, resumes for the business owners, a short history of your business, financial statements for your business, licensing or certification information, financial statements and any other documents relevant to your company's ability to repay.
Apply for your loan: SBA Form 1919 is the required application form that must be submitted to your lender to begin the process. Include any required paperwork and documentation with your Form 1919 application.
Wait for approval: Approval times are often significantly shorter for loans requested through SBA Preferred Lenders. The time frame is significantly shorter with First Bank of the Lake loans below $150,000 and can take as little as 7 business days from application to disbursement.
Close on your loan: Once your 7a loan has been approved, your lender will set up a meeting to close on the loan. This will include securing any collateral, receiving any required down payment and drawing up all necessary loan documents. Once this process is complete, your lender will disburse your funds to your small business.

What Happens if a Business Cannot Repay the SBA 7a Loan?

Defaulting on a SBA 7a loan has serious repercussions that may include late fees, damage to your credit report, collection activities by the lender, the SBA or both, and the inability to borrow through a government-backed program in the future. Working with your 7a lender can allow you to find solutions for your financial situation that can ensure the best outcomes for your business, your employees and your future success.

What Are SBA Preferred Lenders?

An SBA Preferred Lender has been vetted by the Small Business Administration and has been found reliable and trustworthy. SBA Preferred Lenders have a proven track record of success and dependability in making decisions about approving SBA loans and servicing them effectively. Because of this history of reliability, the SBA allows SBA Preferred Lenders to make lending decisions on their behalf. This can reduce the time needed to receive approval for your SBA 7a loan.

First Bank of the Lake is proud to be a trusted SBA Preferred 7a Lender. We work with borrowers to help them understand their lending options and to provide support throughout the life of their loans.

What to Look for in a Lender for Your SBA 7a Loan

Choosing the right lender for your 7a loan can be challenging. Your SBA lender should demonstrate some key characteristics to ensure that you have a positive experience. Some of the most important things to look for when choosing a lender for your SBA 7a loan are listed here:

Flexibility can go a long way toward making your SBA 7a loan experience easier.
Dependability is also key to your success in navigating your SBA loan.
Your lender should maintain open lines of communication to keep you informed about your loan's status and repayment options.
You should feel welcome to contact your lender with any questions you may have throughout the duration of your loan.

At First Bank of the Lake, our first priority is serving the needs of our customers. We work with your company to find the right SBA 7a lending solutions for your needs. Our team is here to help you manage all aspects of your financial situation to create a brighter future for your small business enterprise.

SBA 7a Loans for Every Need

Our loan team works with small businesses in a wide array of industries, including the following:

SBA 7a & 504 Loans for Veterans: Veteran business loans are a special priority for our team. We work hard to deliver the right solutions for those who have served our country and are now building their businesses here at home. Our veterans loan group is composed entirely of veterans.
7a Loans for Professional Services: These 7a loans for service companies include, but are not limited to: insurance firms, accounting firms, software and technical firms, law practices, engineering companies and architects.
Medical Practice 7a Loans: This includes chiropractors, medical facilities and other healthcare companies which can often benefit from 7a loans provided by an SBA Preferred Lender. We have deep experience delivering the right solutions for healthcare practices in need of funding from real estate to working capital.
7a Loans for Dental Practices: Dental firms can also enjoy easier access to SBA 7a loan funding through our bank as it’s an area of focus.
7a Franchise Loans: They can be used to manage franchise purchases and some franchising costs for our customers. We are one of the largest 7a franchise loan providers in the US.
7a Loans for Manufacturing and Exporting Firms: These companies can often need more capital to grow their businesses. We can provide SBA 7a loans for US exporters and manufacturers for working capital, equipment, real estate and many other expenses.
7a loans for Senior Care and Skilled Nursing 7a Loans: This includes funding for adding and training staff and expanding services to new areas. We can help with practical financial solutions that include SBA 7a loans.
7a Loans for Real Estate: Real Estate requires the right financing partner. Our team knows the commercial real estate marketplace and the construction industry inside and out, which can allow you to enjoy greater confidence when working with us.

Why Choose First Bank of the Lake?

As an SBA 7a Preferred Lender, First Bank of the Lake has built its reputation on putting the customer first. We are in the top one percent of banks that participate in the SBA 7a loan program in the United States and have processed more than $500 million in loans over the past 12 months. Our team has the experience and the expertise necessary to navigate the 7a loan process on your behalf. We handle all aspects of your loan so that you can relax and focus on generating profits for your business.

Our SBA 7a loan team specializes in creative solutions for financial situations. We can offer proven tips for financial success that can help you qualify for an SBA loan or other solution through our institution.

We are here to help you make the most of your small business with proven solutions from a trusted financial partner. We offer veteran discounts and work not only to serve our customers but to make communities better and stronger across the United States.

About First Bank of the Lake

First Bank of the Lake, founded in October 1985, has built a robust nationwide Government Guaranteed Lending program. We are one of the largest and most successful SBA lenders in the United States. Our team takes pride in delivering outstanding customer care for every client we serve. We are located at the Lake of the Ozarks but take a national approach to delivering the best financial services for our valued customers.

To apply for a small business loan or to touch base with our team of SBA 7a loan experts, contact us today online or call us at 888.828.5689 to begin your journey to a better financial future. At First Bank of the Lake, we are always here to serve you.

First Bank of the Lake (“Bank”) does not provide financial, investment, tax, legal, or accounting advice. The content provided is for informational purposes only and should not be relied upon or considered as an express or implied recommendation, warranty, guarantee, offer, or promise. You should consult your own financial, investment, tax, legal, and accounting advisors before engaging in any transaction. Information provided is not exhaustive and is subject to change without notice. Accuracy is not guaranteed. Outlooks and past performance are not guarantees of future results. Articles may contain information from third-parties, and the inclusion of such information does not imply an affiliation with the Bank or Bank sponsorship, endorsement, or verification regarding the third-party or its information. Any external websites linked to this information are not managed by Bank. All third-party trademarks, service marks, trade names, and logos referenced in this material are the property of their respective owners. All loans are subject to credit approval. Qualifications, terms, and conditions apply to all Bank products and services.