First Bank of the Lake
National SBA Preferred Lender from Osage Beach, MO: SBA 7(a) loans $50,000 to $5M, 9.5% median rate, mostly variable. Franchise and startup focus; collateral required.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Franchise buyers and first-time owners anywhere in the U.S. who need an SBA 7(a) loan of roughly $150,000 to $2 million and can pledge collateral and sign a personal guarantee.
Not for: Borrowers who need a fixed rate (the bank offers one, but 519 of 526 recent loans were variable), posted pricing, an unsecured loan, or a branch to walk into outside the Lake of the Ozarks.
Lender List verdict: First Bank of the Lake is a national SBA Preferred Lender that approved 526 SBA 7(a) loans worth $407.2M in the 12 months to June 30, 2026, two-thirds of them franchise loans and most for startups. Expect a variable rate near 9.5% and full collateral.
First Bank of the Lake at a glance
First Bank of the Lake is an Osage Beach, Missouri bank that makes SBA 7(a) loans nationwide, with a heavy focus on franchises.
| First Bank of the Lake | |
|---|---|
| Lender type | FDIC-insured bank (cert 26960); SBA Preferred Lender |
| Founded / HQ | 1985 (FDIC: 1987) / Osage Beach, Missouri |
| Parent / owner | Lender does not publish |
| Products | SBA 7(a), SBA Express, SBA 504, USDA loans |
| Amounts | $50,000 to $5M in the last 12 months (median $350,000) |
| Cost (headline) | Median starting rate 9.5%; middle 90% of loans 8.5% to 13.5% |
| Term | 108 to 314 months; 120 months most common |
| Funding speed | 30 to 90 days (bank's franchise-loan guidance) |
| Recent volume | 526 SBA 7(a) loans, $407.2M (12 months to June 30, 2026) |
| Status | Active; last SBA approval June 29, 2026 |
What is First Bank of the Lake?
First Bank of the Lake is a single-office community bank in Osage Beach, Missouri, with about $2.3 billion in assets, that turned itself into one of the country's busiest SBA lenders after 2019.
The bank traces its roots to 1985 and started lending nationally under government guarantees in 2019. Since FY2020 it has approved 2,472 SBA 7(a) loans totaling $1.99 billion, in 52 states and territories. Texas (336), California (327) and Florida (277) lead; Missouri projects are a small share. Annual approvals grew from 44 in FY2020 to 705 in FY2024. Source: SBA 7(a) FOIA data, FY2020–present, as of June 30, 2026 (data.sba.gov).
The bank ranks itself 15th among SBA 7(a) lenders by dollars approved since 2023 and the third most active SBA franchise lender over the same period.
First Bank of the Lake's SBA programs
First Bank of the Lake offers SBA 7(a), SBA Express, SBA 504 and USDA loans, and approves almost all of its 7(a) loans under SBA Preferred Lender authority.
Of the 526 loans in the year to June 30, 2026, 504 were Preferred Lender loans, 19 were SBA Express loans (largest $500,000) and 3 were International Trade loans. Uses the bank lists include:
- Franchise startups and resales (345 recent loans carried a franchise code)
- Buying a business, partner buyouts, ESOP and search-fund (ETA) deals
- Commercial real estate, construction and equipment
- Working capital and debt refinancing
Recent franchise borrowers include The Back Nine, The UPS Store, The Tox and Hotworx units. Fitness centers and snack and beverage bars were the top industries, with 34 loans each.
First Bank of the Lake rates and fees: what it really costs
First Bank of the Lake's SBA 7(a) loans in the year to June 30, 2026 started at a median 9.5%, with the middle 90% between 8.5% and 13.5%; 519 of 526 were variable.
The bank does not post rates, spreads or its own fees. Loans above $350,000 priced lower (median 9.25%) than smaller ones (median 10.0%). Costs to plan for:
- SBA upfront guaranty fee: 3% of the guaranteed share on loans from $150,001 to $700,000 (2% at $150,000 or less)
- Variable rate tied to Prime, which was 7.00% in October 2026, so payments move when Prime moves; SBA caps the spread a lender can charge over Prime, and the cap depends on loan size and maturity
- SBA prepayment fee only on loans of 15 years or longer, if you prepay 25% or more in the first three years
Worked example: $350,000 over 10 years at 9.5% is $4,528.91 a month, or $193,469.74 in interest if the rate never changes. Add the $7,875 guaranty fee ($350,000 × 75% × 3%) for a total cost of $201,344.74, about 10.04% APR if the fee is paid from loan proceeds.
First Bank of the Lake requirements
First Bank of the Lake sets no hard minimums on its SBA page, but its franchise-loan guide points to a 680 personal credit score and a 10% to 30% down payment.
| Requirement | First Bank of the Lake |
|---|---|
| Personal credit score | About 680 suggested in the bank's franchise guide |
| Down payment | 10% to 20% typical; 20% to 30% for startups (bank guide) |
| Time in business | None; 318 of 526 recent loans funded startups |
| Experience | Relevant management or industry experience |
| Collateral | Taken on all 526 loans in the last 12 months |
| Personal guarantee | Owners of 20% or more (SBA rule) |
| Business size | Must meet SBA size standards |
Because most borrowers have no operating history, the bank's guide puts the weight on owner credit, relevant experience and the down payment.
Pros and cons
Pros
- National reach: recent loans financed projects in 46 states
- Startup-friendly: six in ten recent loans opened a new business
- Deep franchise experience, with 1,272 franchise loans since FY2020
- Preferred Lender authority on 504 of 526 recent loans, so most skip SBA review
- Loans up to $5M, with real estate terms up to 25 years (longest recent loan 314 months)
Cons
- Almost entirely variable rates, so payments rise if Prime rises
- Smaller loans cost more: median 10.0% at $350,000 or less
- Collateral on every recent loan
- No posted rates, spreads or bank fees
- One office, so most borrowers deal with the bank remotely
First Bank of the Lake alternatives on Lender List
- Newtek Bank — national SBA lender with fully amortizing 10 to 25 year loans
- Busey Bank — SBA Preferred Lender with down payments as low as 10%
- Lendio — loan marketplace, not a direct lender, for comparing several offers
- Browse all SBA 7(a) lenders on Lender List
Frequently asked questions about First Bank of the Lake
Is First Bank of the Lake Legit? Yes. First Bank of the Lake is an active FDIC-insured bank (certificate 26960) with $2.3 billion in assets. SBA records show 2,472 SBA 7(a) approvals since FY2020, with 38 charged off, about 1.5% by count. The bank says it holds an A+ rating with the Better Business Bureau.
Where Is First Bank of the Lake Located? First Bank of the Lake is headquartered at 4558 Osage Beach Parkway in Osage Beach, Missouri, at the Lake of the Ozarks, and FDIC lists one office. Its SBA lending is national: only 9 of its last 526 SBA loans financed Missouri projects, against 68 in Florida and 64 in Texas.
How Long Does First Bank of the Lake Take to Close an SBA Loan? The bank's franchise-loan guide puts approval at 30 to 90 days. Because 504 of its last 526 SBA 7(a) loans were approved under Preferred Lender authority, most files are decided in-house without a separate SBA review. The bank posts no separate closing timeline, so ask for one at pre-qualification, which it says takes about three minutes.
Does First Bank of the Lake Lend to Startups? Yes, more than most SBA lenders. Of First Bank of the Lake's 526 SBA 7(a) loans in the 12 months to June 30, 2026, 318 funded businesses that had not yet opened and 36 went to firms two years old or younger. The bank's guide suggests startups bring 20% to 30% down.
Does First Bank of the Lake Make Franchise Loans? Yes, franchise lending is its core business. 345 of its 526 SBA 7(a) loans in the year to June 30, 2026 carried an SBA franchise code, and 1,272 have since FY2020. The bank says it was the third most active SBA franchise lender by volume since 2023.
What Is First Bank of the Lake's Asset Size? First Bank of the Lake held about $2.3 billion in total assets as of June 30, 2026, according to FDIC BankFind. That is large for a one-office bank and reflects the growth of its national SBA lending, which reached $407.2M of approvals in the 12 months to June 30, 2026.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Franchise buyers and first-time owners anywhere in the U.S. who need an SBA 7(a) loan of roughly $150,000 to $2 million and can pledge collateral and sign a personal guarantee.
Not for: Borrowers who need a fixed rate (the bank offers one, but 519 of 526 recent loans were variable), posted pricing, an unsecured loan, or a branch to walk into outside the Lake of the Ozarks.
Lender List verdict: First Bank of the Lake is a national SBA Preferred Lender that approved 526 SBA 7(a) loans worth $407.2M in the 12 months to June 30, 2026, two-thirds of them franchise loans and most for startups. Expect a variable rate near 9.5% and full collateral.
First Bank of the Lake at a glance
First Bank of the Lake is an Osage Beach, Missouri bank that makes SBA 7(a) loans nationwide, with a heavy focus on franchises.
| First Bank of the Lake | |
|---|---|
| Lender type | FDIC-insured bank (cert 26960); SBA Preferred Lender |
| Founded / HQ | 1985 (FDIC: 1987) / Osage Beach, Missouri |
| Parent / owner | Lender does not publish |
| Products | SBA 7(a), SBA Express, SBA 504, USDA loans |
| Amounts | $50,000 to $5M in the last 12 months (median $350,000) |
| Cost (headline) | Median starting rate 9.5%; middle 90% of loans 8.5% to 13.5% |
| Term | 108 to 314 months; 120 months most common |
| Funding speed | 30 to 90 days (bank's franchise-loan guidance) |
| Recent volume | 526 SBA 7(a) loans, $407.2M (12 months to June 30, 2026) |
| Status | Active; last SBA approval June 29, 2026 |
What is First Bank of the Lake?
First Bank of the Lake is a single-office community bank in Osage Beach, Missouri, with about $2.3 billion in assets, that turned itself into one of the country's busiest SBA lenders after 2019.
The bank traces its roots to 1985 and started lending nationally under government guarantees in 2019. Since FY2020 it has approved 2,472 SBA 7(a) loans totaling $1.99 billion, in 52 states and territories. Texas (336), California (327) and Florida (277) lead; Missouri projects are a small share. Annual approvals grew from 44 in FY2020 to 705 in FY2024. Source: SBA 7(a) FOIA data, FY2020–present, as of June 30, 2026 (data.sba.gov).
The bank ranks itself 15th among SBA 7(a) lenders by dollars approved since 2023 and the third most active SBA franchise lender over the same period.
First Bank of the Lake's SBA programs
First Bank of the Lake offers SBA 7(a), SBA Express, SBA 504 and USDA loans, and approves almost all of its 7(a) loans under SBA Preferred Lender authority.
Of the 526 loans in the year to June 30, 2026, 504 were Preferred Lender loans, 19 were SBA Express loans (largest $500,000) and 3 were International Trade loans. Uses the bank lists include:
- Franchise startups and resales (345 recent loans carried a franchise code)
- Buying a business, partner buyouts, ESOP and search-fund (ETA) deals
- Commercial real estate, construction and equipment
- Working capital and debt refinancing
Recent franchise borrowers include The Back Nine, The UPS Store, The Tox and Hotworx units. Fitness centers and snack and beverage bars were the top industries, with 34 loans each.
First Bank of the Lake rates and fees: what it really costs
First Bank of the Lake's SBA 7(a) loans in the year to June 30, 2026 started at a median 9.5%, with the middle 90% between 8.5% and 13.5%; 519 of 526 were variable.
The bank does not post rates, spreads or its own fees. Loans above $350,000 priced lower (median 9.25%) than smaller ones (median 10.0%). Costs to plan for:
- SBA upfront guaranty fee: 3% of the guaranteed share on loans from $150,001 to $700,000 (2% at $150,000 or less)
- Variable rate tied to Prime, which was 7.00% in October 2026, so payments move when Prime moves; SBA caps the spread a lender can charge over Prime, and the cap depends on loan size and maturity
- SBA prepayment fee only on loans of 15 years or longer, if you prepay 25% or more in the first three years
Worked example: $350,000 over 10 years at 9.5% is $4,528.91 a month, or $193,469.74 in interest if the rate never changes. Add the $7,875 guaranty fee ($350,000 × 75% × 3%) for a total cost of $201,344.74, about 10.04% APR if the fee is paid from loan proceeds.
First Bank of the Lake requirements
First Bank of the Lake sets no hard minimums on its SBA page, but its franchise-loan guide points to a 680 personal credit score and a 10% to 30% down payment.
| Requirement | First Bank of the Lake |
|---|---|
| Personal credit score | About 680 suggested in the bank's franchise guide |
| Down payment | 10% to 20% typical; 20% to 30% for startups (bank guide) |
| Time in business | None; 318 of 526 recent loans funded startups |
| Experience | Relevant management or industry experience |
| Collateral | Taken on all 526 loans in the last 12 months |
| Personal guarantee | Owners of 20% or more (SBA rule) |
| Business size | Must meet SBA size standards |
Because most borrowers have no operating history, the bank's guide puts the weight on owner credit, relevant experience and the down payment.
Pros and cons
Pros
- National reach: recent loans financed projects in 46 states
- Startup-friendly: six in ten recent loans opened a new business
- Deep franchise experience, with 1,272 franchise loans since FY2020
- Preferred Lender authority on 504 of 526 recent loans, so most skip SBA review
- Loans up to $5M, with real estate terms up to 25 years (longest recent loan 314 months)
Cons
- Almost entirely variable rates, so payments rise if Prime rises
- Smaller loans cost more: median 10.0% at $350,000 or less
- Collateral on every recent loan
- No posted rates, spreads or bank fees
- One office, so most borrowers deal with the bank remotely
First Bank of the Lake alternatives on Lender List
- Newtek Bank — national SBA lender with fully amortizing 10 to 25 year loans
- Busey Bank — SBA Preferred Lender with down payments as low as 10%
- Lendio — loan marketplace, not a direct lender, for comparing several offers
- Browse all SBA 7(a) lenders on Lender List
Frequently asked questions about First Bank of the Lake
Is First Bank of the Lake Legit? Yes. First Bank of the Lake is an active FDIC-insured bank (certificate 26960) with $2.3 billion in assets. SBA records show 2,472 SBA 7(a) approvals since FY2020, with 38 charged off, about 1.5% by count. The bank says it holds an A+ rating with the Better Business Bureau.
Where Is First Bank of the Lake Located? First Bank of the Lake is headquartered at 4558 Osage Beach Parkway in Osage Beach, Missouri, at the Lake of the Ozarks, and FDIC lists one office. Its SBA lending is national: only 9 of its last 526 SBA loans financed Missouri projects, against 68 in Florida and 64 in Texas.
How Long Does First Bank of the Lake Take to Close an SBA Loan? The bank's franchise-loan guide puts approval at 30 to 90 days. Because 504 of its last 526 SBA 7(a) loans were approved under Preferred Lender authority, most files are decided in-house without a separate SBA review. The bank posts no separate closing timeline, so ask for one at pre-qualification, which it says takes about three minutes.
Does First Bank of the Lake Lend to Startups? Yes, more than most SBA lenders. Of First Bank of the Lake's 526 SBA 7(a) loans in the 12 months to June 30, 2026, 318 funded businesses that had not yet opened and 36 went to firms two years old or younger. The bank's guide suggests startups bring 20% to 30% down.
Does First Bank of the Lake Make Franchise Loans? Yes, franchise lending is its core business. 345 of its 526 SBA 7(a) loans in the year to June 30, 2026 carried an SBA franchise code, and 1,272 have since FY2020. The bank says it was the third most active SBA franchise lender by volume since 2023.
What Is First Bank of the Lake's Asset Size? First Bank of the Lake held about $2.3 billion in total assets as of June 30, 2026, according to FDIC BankFind. That is large for a one-office bank and reflects the growth of its national SBA lending, which reached $407.2M of approvals in the 12 months to June 30, 2026.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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