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BreadRoute Review
First Bank of the Lake
4.0Our First Bank of the Lake Review
First Bank of the Lake is a community bank headquartered in Osage Beach, MO, operating as an SBA Preferred Lender with a national reach across 38 states. The bank has funded over 2,000 loans totaling more than $1.1 billion, and holds a top-three ranking nationally for SBA franchise loans — a notable credential if you're buying into a franchise system. Products include SBA 7(a), SBA 504, and USDA Business and Industry loans, with financing from $10,000 to $10 million and beyond. To qualify, you'll generally need a 650 credit score, $10,000 in monthly revenue, and at least two years in business. A well-established lender with a strong track record, First Bank of the Lake appears particularly well suited for franchise operators and established businesses seeking government-backed financing.
Who Is First Bank of the Lake Best For?
Based on eligibility requirements and available products.
- Businesses with good (but not perfect) credit
- Established businesses that qualify for SBA programs
- Businesses seeking larger financing amounts
Financing Options
Eligibility Requirements
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Quick Overview
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First Bank of the Lake Pros & Cons
Pros
- Lends nationwide
- High loan amounts available
Cons
- Requires $10,000+ in monthly revenue
- Requires 2 Years in business
Frequently Asked Questions
First Bank of the Lake offers financing in the range of $10,000 to $10+ Million.
First Bank of the Lake typically requires a minimum credit score of 650. Businesses with scores above this threshold are more likely to qualify for favorable terms.
First Bank of the Lake offers the following financing products: USDA Business and Industry, SBA 7(a), SBA 504.
First Bank of the Lake requires a minimum of 2 Years in business. Newer businesses may want to explore alternative lenders with lower seasoning requirements.
First Bank of the Lake provides financing to businesses across the United States.
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