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Location Expansion
Learn about how SBA loans can help you expand to other locations
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Expanding a business offers new opportunities but also introduces major challenges
One of the toughest parts of expanding to a new location is finding the right financing to make it all happen. Many businesses have reported struggling to get enough funding for their expansion. Traditional loans or credit lines don’t always cover everything—things like real estate, renovations, and hiring new staff can add up fast.
For a lot of business owners, the process of getting a loan is a challenge. Lenders often ask for detailed financials, like cash flow reports and multi-year projections, which can be tough for newer or smaller businesses to provide. This is causing some businesses to rethink or delay their expansion plans. Without enough financing in place, things like equipment purchases, lease agreements, and marketing can feel like huge hurdles that slow down or even stop the expansion process.
Expand your business without the financial stress
That’s where SBA loans can make all the difference for small businesses looking to open a second location. The SBA 7a loan program, for example, offers flexible terms that can ease the financial burden of expanding. Offering loan amounts up to $5 million to cover major expenses like real estate, renovations, and equipment. Whereas the SBA 504 program can be used to purchase real estate and large equipment or fixed assets. Making SBA loans a solid option for business owners ready to grow.
One of the key benefits of SBA loans is that they come with lower down payments and longer repayment terms compared to traditional loans, which can help reduce the strain on your cash flow. This financial flexibility is especially helpful when you’re managing the costs of setting up a new location. Unlike many conventional loans, SBA loans are more accessible for small businesses, with more lenient credit requirements and competitive interest rates.
At First Bank of the Lake, we’ve helped small businesses secure more than $1.1 billion in SBA loans. Our SBA lending experts understand the unique challenges of business expansion and will work with you to find the right loan to fit your needs. With our personalized service and expertise, we can help you successfully open your second location and continue growing your business.
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
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We made $600MM in SBA loans in the last year alone
