Loan Usage
Short Term Leases
Use an SBA loan to take advantage of a short term lease opportunity
Steep upfront costs for leasing commercial space hit small businesses hard
Finding the perfect commercial space for your small business can be daunting. With commercial rents in the U.S. climbing at an average rate of 6% annually, securing a lease that doesn’t overwhelm your budget is increasingly difficult. Small businesses, particularly those just starting, often face sticker shock when it comes to upfront costs like security deposits, tenant improvements and renovations. These expenses often add up quickly, creating a financial strain before the doors even open.
The obstacles don’t stop at signing the lease. Managing cash flow becomes critical as businesses face recurring monthly rent payments alongside other operating costs, such as payroll, inventory, and marketing. Studies show that over 20% of small businesses report difficulties covering basic operating expenses, including rent. This challenge can stifle growth and even lead to business closures if not managed effectively.
Affordable financing to ease the burden of commercial rent and leasehold expenses
Managing rental and lease expenses presents a major financial challenge for small businesses. However, the SBA loan programs offer vital support for small business owners. The 7a loan program provides up to $5 million in funding that can be used for a wide range of purposes, including rent payments, leasehold improvements, and working capital. This program is especially beneficial for businesses needing to cover upfront lease costs like deposits or tenant improvements, offering flexible repayment terms and competitive interest rates.
However, if you are ready to secure a permanent space for your business, the SBA 504 loan program caters to businesses aiming to purchase or renovate commercial real estate. The SBA 504 program provides long-term, fixed-rate financing with terms of up to 25 years. This allows small businesses to make significant investments—such as acquiring property or completing large-scale renovations—while minimizing the financial strain.
At First Bank of the Lake, we’re proud to be a trusted partner in navigating these financial challenges. With over $1.1 billion in SBA loans funded, we’ve helped countless small businesses secure the right financing solutions for their leasing and real estate needs. Our team is here to provide personalized guidance, ensuring you have the resources to grow your business. Let us put our expertise to work for you, so you can focus on building and expanding your business.
The Numbers
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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
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We made $600MM in SBA loans in the last year alone
