At First Bank of the Lake, we believe small businesses are the cornerstone of our communities and the American Dream. We recognize that helping businesses has the power to transform people’s lives and businesses across the country. Connecting people with financial resources is the spark that ignites innovation, competition, and expansion. That’s why our motto is “We put you first!”
Here are just a few of the ways that our lending team has been connecting with businesses, making an impact in communities nationwide:
- With the help of First Bank of the Lake and an SBA 504 loan, a meat distributor was able to purchase a commercial real estate space four times what they previously occupied. With this added space, they were also able to add at least another six employees.
- Through an SBA loan, a pumping, plumbing, and drain cleaning business was able to expand and continue to serve its local community, ensuring public health and environmental safety.
- First Bank of the Lake assisted a veteran and Native American entrepreneur to acquire a business that allows him to continue to serve not only Native Americans but also the greater population. This business is creating new jobs, and opportunities and employing a diverse group of employees.
- An SBA loan helped a veteran business owner expand services and employees to continue providing engineering and logistics support to government agencies, including the U.S. Navy.
- First Bank of the Lake helped an active-duty military entrepreneur open a franchise restaurant in a rural, underserved community.
- In an extremely rural area in Michigan, over 20 employees became owners of their company in an ESOP deal, creating a life-changing moment for many families.
- A business creating a specialized spinal surgical device is now 100% employee-owned.
- A decorated Navy veteran was able to secure financing for his business and helping to create new jobs.
- An SBA 504 loan enabled a minority-owned business to expand and create higher-paying jobs in the critical air transport industry, also directly impacting the supply chain.
We are proud to help finance these entrepreneurs and trailblazers as they grow and capitalize on opportunities that impact their communities.