First Bank of the Lake

What First Bank of the Lake does

First Bank of the Lake is a privately held, FDIC-insured community bank founded in October 1985 and headquartered in Osage Beach, Missouri, with a nationwide operating footprint across all 50 states despite operating with 11-50 employees. The bank's identity is anchored in SBA and USDA government-guaranteed lending rather than traditional retail branch banking: it is an SBA Preferred Lender holding delegated processing authority, ranked the 15th largest SBA 7(a) lender in the United States in 2024 and the Top 3 most active SBA Franchise lender by lending volume since 2023, with Top 1% SBA 7(a) status sustained since 2023.

Its core product set consists of SBA 7(a) loans up to $5 million with flexible or fixed rates and up to 25-year terms, SBA 504 loans up to $15 million structured as 50/40/10 lender/CDC/borrower for fixed-asset and owner-occupied commercial real estate financing, SBA-backed working capital lines, USDA Business & Industry loans for rural borrowers, and purpose-built franchise and business acquisition loans. Supporting revenue comes from consumer and business deposit products (checking, savings, money market, CDs) sold nationwide via an online and mobile banking platform, plus a Private Label Banking / Fintech Banking arm serving non-bank clients with payment processing under a dedicated Chief Payments Officer.

The business model is primarily transactional interest income on originated SBA/USDA loans supplemented by guarantee packaging and servicing fees, with recurring deposit NIM from a digitally acquired retail and SMB deposit base and an emerging fee stream from fintech banking-as-a-service. Go-to-market is sales-led, routed through dedicated SBA loan officers and an 888 phone intake, but it is fueled top-of-funnel by a content-led SEO engine spanning 40+ industry vertical pages, 60+ educational articles, calculators, ePubs, and case studies, with nationwide reach achieved without a physical branch network.

Name

First Bank of the Lake

Legal name

First Bank of the Lake

Website

https://fblake.bank

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

First Bank of the Lake is a nationwide SBA Preferred Lender bank offering SBA 7(a), SBA 504, USDA, franchise, and business acquisition loans across 40+ industries, complemented by consumer and business deposits and a fintech private label banking platform.

Ownership category

akta.pro rank

Product category

Small Business Lending (SBA / Government-Backed Lending)

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Agricultural & Rural Development Banks (FSABAKAE)

Keywords

• SBA 7a loans
• Small business lending
• USDA business loans
• Franchise acquisition loans
• Private label banking

Headquarters

HQ city

Osage Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. SBA Loan Interest Income: Primary revenue stream from interest on SBA 7a and SBA 504 loans. These government-backed loans are extended to small businesses across 40+ industries. Loan amounts range up to $5 million for 7a loans and up to $15 million for 504 loans.
2. USDA Loan Interest Income: Revenue from USDA Business & Industry loans for rural businesses. These loans support projects in eligible rural areas with terms and structures governed by USDA programs.
3. Fintech Private Label Banking: Advanced services for non-banking and fintech clients through private label banking arrangements. This includes payment processing services led by Chief Payments Officer.
4. Business Banking Products: Deposit products including business CD rates, business savings, business money market, and business checking accounts generating interest income and fee revenue.
5. Consumer Banking Products: Personal banking including CD rates, savings, money market, and checking accounts for individual customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

First Bank of the Lake primarily originates SBA 7a loans (up to $5 million), SBA 504 loans (up to $15 million for fixed assets), SBA working capital loans, USDA Business & Industry loans for rural businesses, and specialty franchise and business acquisition loans to small businesses across 40-plus industries and all 50 U.S. states. The bank complements this lending with traditional consumer and business deposit products (checking, savings, money market, CDs) and a private label banking platform serving fintech clients with payment processing and embedded banking infrastructure.

Product overview

First Bank of the Lake offers a comprehensive suite of SBA and USDA government-backed loan products alongside traditional banking services. The core product portfolio centers on SBA 7a Loans (up to $5 million) for flexible business financing, SBA 504 Loans (up to $15 million) for fixed-asset financing with fixed rates, SBA Working Capital Loans, USDA Rural Loans, Franchise Business Loans, and Buy a Business Loans. Supporting these are Consumer and Business deposit products including checking, savings, money market, and CD accounts. The bank also provides a Private Label Banking platform for fintech clients. All SBA loan products are accessible across 40+ industries in all 50 states, with the bank ranked as a top SBA lender having funded over $1.1 billion in loans.

Differentiator

Problem solved

Functional benefit

Products and services

• SBA 7a Loans Government-backed SBA 7a loans offering up to $5 million for small businesses needing capital for acquisition, construction, working capital, equipment, partner buyouts, and debt refinancing, with variable or fixed interest rates and terms up to 25 years for real estate and 10 years for non-real estate debt.
• SBA 504 Loans Long-term, below-market fixed-rate financing for fixed assets including commercial real estate and equipment, with loan amounts up to $15 million, 20- or 25-year terms, and standard structure of 50% bank / 40% CDC / 10% borrower.
• SBA Working Capital Loans SBA 7a loans used specifically for short-term operational needs including rent, payroll, permits, licensing, marketing, and inventory purchases for small businesses.
• USDA Business & Industry Loans Government-backed loans through the U.S. Department of Agriculture for rural businesses, with longer loan terms and lower down payments, usable for purchasing, expanding, consolidating debt, equipment, real estate, and working capital in USDA-eligible rural areas.
• Franchise Business Loans SBA-backed financing specifically designed for acquiring or expanding franchise operations; can fund franchise fees, equipment, real estate, working capital, build-out, and tenant improvements. The bank has funded over 1,000 franchise loans totaling more than $650 million and is ranked a top SBA franchise lender.
• Buy a Business Loans SBA 7a loans for acquiring existing businesses, including purchase price, working capital, inventory, equipment, and real estate, with government guarantees, terms up to 25 years, and loan amounts up to $5 million.
• Business Checking Business deposit checking account offering 24/7 online and mobile banking access for checking balances, transactions, and transfers.
• Business Savings Business deposit savings account with competitive interest rates, accessed via online and mobile banking.
• Business Money Market Business money market deposit account with competitive yields, accessed via online and mobile banking.
• Business CD Rates Business certificate of deposit accounts with guaranteed interest rates and high-yield options.
• Personal Checking Personal deposit checking account with 24/7 online and mobile banking access for individuals.
• Personal Savings Personal deposit savings account with competitive interest rates for individual customers.
• Personal Money Market Personal money market deposit account with competitive yields for individual customers.
• Private Label Banking (Fintech Platform) White-label / private label banking services for non-banking and fintech clients, including payment processing, delivered by a dedicated division led by a Chief Payments Officer and President of Fintech Banking.

Quantifiable outcome

• $1.1 billion+ in SBA loans to 2,000+ businesses across 40+ industries
• +4 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Citizens Bank: Top-10 U.S. bank with a major SBA lending franchise across multiple products and industries; competes with FBL on SBA 7(a) volume but offers a much broader product portfolio.
• Huntington National Bank: Large regional bank with an active SBA lending program including SBA 7(a) and franchise financing; competes in the same SBA franchise and small-business segments as FBL.
• Wells Fargo: Largest SBA 7(a) lender in the U.S. by volume; competes directly with FBL on small-business SBA originations but as part of a much larger full-service banking platform.

Direct peers

• Live Oak Bank: Pure-play SBA-focused digital bank and the #1 SBA 7(a) lender in the U.S., with comparable nationwide SBA lending model and similar franchise lending specialization.
• Byline Bank: Chicago-based commercial bank specializing in SBA 7(a) and 504 lending across multiple verticals; comparable preferred-lender model and middle-market SBA focus.
• Newtek Business Services (NewtekOne): Publicly traded SBA preferred lender focused on small business loans across many industries; directly comparable government-guaranteed lending model with similar customer segments.
• Celtic Bank: Utah-based SBA preferred lender with heavy concentration in SBA 7(a) franchise lending; one of FBL's direct competitors in the top SBA franchise lender rankings.
• CDC Small Business Finance: Specialized SBA 504 Certified Development Company with similar small-business, franchise, and commercial real estate focus; comparable SBA-preferred lending capability.
• The Bancorp Bank: Specialty bank with a meaningful SBA and small-business lending program, including SBA 7(a) and franchise financing; comparable preferred-lender model with national reach.

Emerging players

• BlueVine: Fintech small-business lender offering SBA lines of credit and term loans via digital channels; emerging competitor targeting the same SBA-eligible SMB customer base as FBL.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/FirstBankLake
• Facebookfacebook.com/FirstBankLake
• LinkedInlinkedin.com/company/first-bank-of-the-lake

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Bank of the Lake