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Business ownership is hard enough—now add soaring property costs to the mix!
For owner-occupied properties, navigating the financial challenges of commercial real estate (CRE) can feel like a balancing act. Higher interest rates make it tougher to handle monthly payments and refinancing. This is particularly frustrating when your business occupies the property, and you’re dealing with the double burden of managing operational costs and property expenses. Think of it as trying to pay both rent and a mortgage—except the rent is your business revenue, and the mortgage keeps getting bigger.
Banks are also becoming more selective, which means fewer loan approvals and stricter conditions for those that do make the cut. Add soaring construction costs and higher insurance premiums, and owning the property where you run your business suddenly feels a lot less simple. For owner-occupiers, managing cash flow becomes crucial, and the option to refinance becomes more of a necessity than a luxury.
Lower interest rates mean it’s time to rethink owning your business space!
With interest rates starting to drop, now is an ideal time for small business owners to consider purchasing their own commercial real estate (CRE).
- Recently, the U.S. Federal Reserve held the interest rate at 5.5%, with the possibility of gradual rate cuts in the next year.
- According to Trading Economics, U.S. interest rates are expected to decrease to around 4.5% in the next year.
Lower interest rates make it easier for small businesses to transition from leasing to owning, with more affordable monthly payments and the opportunity to build equity. By locking in a favorable rate, businesses can reduce long-term costs and gain greater control over their financial future. It’s a prime moment for small businesses to establish permanent roots and grow.
First Bank of the Lake has funded more than $1.1 billion in SBA loans, helping small businesses seize these opportunities. With expertise in SBA 7a and 504 loans, we offer flexible, affordable financing to meet your needs. Our personalized approach ensures you have the support to make property ownership a reality, whether you’re expanding or establishing your first business space.
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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