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SBA loans can help grow your financial services business
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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
Fluctuating income may make it hard for some firms maintain financial stability
Accounting, CPA, and tax preparation businesses are essential for managing client finances, but running these firms comes with financial challenges. From continuous technology upgrades to managing seasonal cash flow fluctuations, these businesses often face hurdles requiring strategic planning and access to capital.
Keeping up with technology and compliance requirements is a major challenge. The accounting software market, valued at more than $14 billion, is expected to grow at a rate of 8.5% annually, showing how crucial these tools are becoming. However, these solutions are costly, with many firms spending thousands annually on software and compliance training. For smaller firms, the updates and training needed to stay current can strain their finances, especially when resources are limited.
Seasonal cash flow is another common obstacle. Approximately 60% of accounting firms report revenue fluctuations based on tax and audit cycles, with tax season bringing surges followed by slower months when income drops significantly. During these off-peak times, firms still need to cover fixed costs like rent, salaries, and software subscriptions. Managing these expenses without steady cash flow puts pressure on businesses to find ways to maintain financial stability.
Manage seasonal revenue dips with financing designed for your business
To navigate these challenges, accessible financing becomes crucial. The SBA 7a loan program is designed for small businesses, providing up to $5 million in working capital. Offering flexible terms and competitive interest rates, it allows businesses to manage slower months and cover essentials like rent, payroll, and software costs. With extended repayment terms of up to 10 years for working capital, the 7a loan helps reduce monthly payments.
For firms investing in large assets, the SBA 504 loan program offers long-term, fixed-rate financing for major purchases such as office buildings, machinery, or expansion projects. With loan amounts up to $5 million, it supports firms in planning for sustainable growth and operational efficiency.
At First Bank of the Lake, we understand the financial needs of accounting and CPA businesses. Having funded over $1.1 billion in SBA loans, we are committed to supporting small businesses with tailored financing solutions that promote growth and stability. Our expertise ensures you have a reliable partner to navigate challenges and secure the capital needed to keep your practice moving forward.
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