Loan Usage
Location Expansion
Learn about how SBA loans can help you expand to other locations
Home » Use Cases Parent »
See If You Pre-Qualify for a Location Expansion Loan in 3 Minutes
Get the capital you need to fund your business
Fill in your info:
Top 5 SBA franchise loan lender*
+$600 million franchise loans funded
+$2 billion in SBA loans since 2020
+2,000 SBA loans funded since 2020
Expanding a business offers new opportunities but also introduces major challenges
One of the toughest parts of expanding to a new location is finding the right financing to make it all happen. Many businesses have reported struggling to get enough funding for their expansion. Traditional loans or credit lines don’t always cover everything—things like real estate, renovations, and hiring new staff can add up fast.
For a lot of business owners, the process of getting a loan is a challenge. Lenders often ask for detailed financials, like cash flow reports and multi-year projections, which can be tough for newer or smaller businesses to provide. This is causing some businesses to rethink or delay their expansion plans. Without enough financing in place, things like equipment purchases, lease agreements, and marketing can feel like huge hurdles that slow down or even stop the expansion process.
Expand your business without the financial stress
That’s where SBA loans can make all the difference for small businesses looking to open a second location. The SBA 7a loan program, for example, offers flexible terms that can ease the financial burden of expanding. Offering loan amounts up to $5 million to cover major expenses like real estate, renovations, and equipment. Whereas the SBA 504 program can be used to purchase real estate and large equipment or fixed assets. Making SBA loans a solid option for business owners ready to grow.
One of the key benefits of SBA loans is that they come with lower down payments and longer repayment terms compared to traditional loans, which can help reduce the strain on your cash flow. This financial flexibility is especially helpful when you’re managing the costs of setting up a new location. Unlike many conventional loans, SBA loans are more accessible for small businesses, with more lenient credit requirements and competitive interest rates.
At First Bank of the Lake, we’ve helped small businesses secure more than $1.1 billion in SBA loans. Our SBA lending experts understand the unique challenges of business expansion and will work with you to find the right loan to fit your needs. With our personalized service and expertise, we can help you successfully open your second location and continue growing your business.
Real business owners. Real results.
Woof Gang Bakery SBA Loan Case Study
After years in HR, Kasia followed her passion for animals and, with a $345K SBA loan from First Bank of the Lake, quickly launched her Woof Gang Bakery & Grooming franchise — already nearing breakeven just months in.
Tint World SBA Loan Case Study
After losing his wife, a friend, and his life savings, Dan Billings reinvented his life with a Tint World franchise — and with guidance and an SBA loan from First Bank of the Lake, his business is thriving and he’s already eyeing a second location.
Lifetime Green Coatings SBA Loan Case Study
Father and son duo Barry and Parker Norfleet launched six Lifetime Green Coatings franchises with a $400K SBA loan from First Bank of the Lake — quickly setting up operations and nearly breaking even within just three months.
What Our Customers Say
Gave Me the Confidence I Needed
Huge thanks to Tammy and Brandi. Tammy was my first point of contact and gave me the confidence I needed since there isn't a local branch near where I live. Brandi has been answering ALL my questions since and has excellent follow up and has taken great care of me.
— Michele Houston
Genuinely Interested in Helping My Business Succeed
First Bank of the Lake was a tremendous help in securing a 504 small business loan for my company. Every staff member I interacted with was professional, friendly, and genuinely interested in helping my business succeed.
— Don Kamb
Exceptional Service
I cannot say enough positive things about my experience working with Eric as my SBA loan officer. From start to finish, he provided exceptional service and went above and beyond to ensure that every issue we encountered was resolved quickly and efficiently.
— Bryan Crowe