First Bank of the Lake: SBA Lending Record

First Bank of the Lake in SBA records

SBA lists 2,602 loans approved in FY2017 to FY2026 as held, or last held, by First Bank of the Lake. Gross dollars approved come to $2.17 billion. The program split is plain: the 7(a) side holds 2,602 and the 504 side holds 0. The page repeats what SBA records and offers no view on how the lender works.

Classes: fitness and quick-service lead

1,843 loans are outside the 39 asset classes. Fitness center is the largest classed group, with 157 loans, followed by limited-service restaurant at 122 and coffee shop and snack bar at 121. Child care center has 96, full-service restaurant 58 and dental office 32. Thin-margin consumer businesses of that sort are sensitive to build-out cost and early sales, which is where a study for such a project concentrates its testing.

The state mix

Texas holds 354 loans, California 336 and Florida 290. New York has 122, Georgia 111, North Carolina 109 and New Jersey 86. A holder with loans in so many states does not tell a borrower anything about one county, so the study of the project area stays essential. Counts like these also say nothing about loan size inside a state, and the page carries no loan-size figure for this holder.

Cancellation floor, ceiling and a short cohort

Cancellations hit 9.2% of approvals across FY2017 to FY2024 (a floor), and 12.2% when undisbursed loans are counted too (the ceiling). Just 213 loans make up the disbursed cohort of FY2017 to FY2021, and 4.2% of them have since been charged off, a floor. Under Loan Analytics' rule for small cohorts, the figure measured at five years is held back, so this page prints no number for it; absent is not the same as zero. With only 213 loans behind it, hold the 4.2% loosely, as a floor that can rise.

Reading this beside a study

A borrower who brings a study to a lender gives that lender a reason to look at the project on its own terms. The study should test demand, build and equipment cost, how the payment is met in a lean year, and the appraisal. This page adds context on the holder's file and nothing else, and it does not forecast an outcome.