First Bank of the Lake
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First Bank of the Lake
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 944 | $532.6M | $564K | 5.3% |
| 722513 | Limited-Service Restaurants | 840 | $752.1M | $895K | 4.8% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 744 | $472.2M | $635K | 4.2% |
| 624410 | Child Day Care Services | 656 | $707.2M | $1.1M | 3.7% |
| 236118 | Residential Remodelers | 528 | $268.7M | $509K | 3.0% |
| 812910 | Pet Care (except Veterinary) Services | 496 | $411.4M | $829K | 2.8% |
| 238990 | All Other Specialty Trade Contractors | 464 | $308.7M | $665K | 2.6% |
| 812199 | Other Personal Care Services | 384 | $230.9M | $601K | 2.2% |
| 722511 | Full-Service Restaurants | 376 | $342.7M | $911K | 2.1% |
| 621610 | Home Health Care Services | 352 | $88.8M | $252K | 2.0% |
Geographic Distribution
SBA lending activity for First Bank of the Lake by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 2,392 | $1.94B | 13.6% |
| Florida (FL) | 1,920 | $1.83B | 10.9% |
| California (CA) | 2,400 | $1.78B | 13.6% |
| New York (NY) | 808 | $772.0M | 4.6% |
| Georgia (GA) | 768 | $531.8M | 4.4% |
| North Carolina (NC) | 720 | $524.9M | 4.1% |
| Indiana (IN) | 400 | $427.1M | 2.3% |
| Pennsylvania (PA) | 520 | $426.4M | 2.9% |
| New Jersey (NJ) | 600 | $420.6M | 3.4% |
| Arizona (AZ) | 408 | $351.3M | 2.3% |
| Colorado (CO) | 512 | $340.1M | 2.9% |
| Virginia (VA) | 448 | $308.6M | 2.5% |
| Missouri (MO) | 280 | $277.7M | 1.6% |
| Tennessee (TN) | 392 | $274.0M | 2.2% |
| Washington (WA) | 304 | $250.9M | 1.7% |
| Illinois (IL) | 424 | $246.5M | 2.4% |
| Ohio (OH) | 248 | $234.9M | 1.4% |
| Kansas (KS) | 240 | $222.5M | 1.4% |
| South Carolina (SC) | 224 | $216.5M | 1.3% |
| Nevada (NV) | 248 | $206.9M | 1.4% |
| Wisconsin (WI) | 256 | $201.2M | 1.5% |
| Minnesota (MN) | 200 | $197.2M | 1.1% |
| Maryland (MD) | 248 | $192.3M | 1.4% |
| Mississippi (MS) | 144 | $185.1M | 0.8% |
| Louisiana (LA) | 184 | $178.5M | 1.0% |
| Utah (UT) | 224 | $156.7M | 1.3% |
| Idaho (ID) | 96 | $151.8M | 0.5% |
| Massachusetts (MA) | 232 | $139.3M | 1.3% |
| Alabama (AL) | 208 | $132.7M | 1.2% |
| Oregon (OR) | 144 | $113.0M | 0.8% |
| Michigan (MI) | 256 | $101.6M | 1.5% |
| Kentucky (KY) | 88 | $98.5M | 0.5% |
| Connecticut (CT) | 184 | $92.0M | 1.0% |
| Oklahoma (OK) | 144 | $91.9M | 0.8% |
| Montana (MT) | 80 | $83.8M | 0.5% |
| New Mexico (NM) | 128 | $77.0M | 0.7% |
| Arkansas (AR) | 96 | $74.0M | 0.5% |
| Rhode Island (RI) | 32 | $60.1M | 0.2% |
| Wyoming (WY) | 40 | $53.4M | 0.2% |
| North Dakota (ND) | 16 | $50.4M | 0.1% |
| District of Columbia (DC) | 40 | $47.6M | 0.2% |
| West Virginia (WV) | 32 | $45.2M | 0.2% |
| Alaska (AK) | 40 | $43.4M | 0.2% |
| Vermont (VT) | 16 | $36.5M | 0.1% |
| PR (PR) | 16 | $31.8M | 0.1% |
| Hawaii (HI) | 40 | $30.8M | 0.2% |
| Nebraska (NE) | 72 | $16.5M | 0.4% |
| New Hampshire (NH) | 40 | $15.3M | 0.2% |
| South Dakota (SD) | 16 | $10.2M | 0.1% |
| Maine (ME) | 32 | $7.8M | 0.2% |
| Delaware (DE) | 32 | $5.4M | 0.2% |
| Iowa (IA) | 16 | $4.2M | 0.1% |
Why Choose First Bank of the Lake?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 17,648 SBA loans approved, totaling $14.31B in financing
- ✓Industry Expertise: Specialized focus on Fitness and Recreational Sports Centers, Limited-Service Restaurants, Snack and Nonalcoholic Beverage Bars
- ✓Competitive Terms: Average interest rate of 10.27% with flexible term lengths averaging 137 months
- ✓Loan Range: Loan sizes from $15K to $5.0M, with an average of $811K
- ✓Nationwide Reach: Active lending in 52 states, with strong presence in CA, TX, FL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about First Bank of the Lake SBA lending
What types of businesses does First Bank of the Lake typically finance?
First Bank of the Lake specializes in SBA 7(a) lending to specific industries including fitness and recreational sports centers, limited-service restaurants, snack and nonalcoholic beverage bars, child day care services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Bank of the Lake's typical SBA loan terms?
First Bank of the Lake's SBA 7(a) loans typically feature an average interest rate of 10.27% and average term length of 137 months (approximately 11 years). Loan sizes range from $15K to $5.0M, with an average loan size of $811K.
Do I need a business valuation for a First Bank of the Lake SBA loan?
Yes, First Bank of the Lake typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does First Bank of the Lake compare to other SBA lenders?
First Bank of the Lake has originated 17,648 SBA loans totaling $14.31B since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does First Bank of the Lake lend in?
First Bank of the Lake provides SBA 7(a) financing with particularly strong presence in CA, TX, FL, NY, GA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.