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Retail Store Loans
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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
Rising expenses and supply chain woes are squeezing profits for retail businesses
Retail business owners are grappling with multiple financial pressures, including rising operating costs and shifting consumer behaviors. Recently over 50% of retailers reported facing increased rent and utility expenses, while labor costs surged by an average of 5%. Supply chain disruptions continue to cause inventory shortages and higher costs, with 40% of small retailers experiencing delays. Additionally, inflation has further reduced consumer spending power, with 69% of consumers holding back on non-essential purchases. As a result, many retail businesses are operating with significantly reduced profit margins, highlighting the ongoing financial strain in the industry.
Digital sales are booming, with nearly 50% of retail growth now driven by mobile shopping
Positive trends in the retail industry suggest a promising future, with digital transformation leading the way. E-commerce continues to grow, contributing nearly 50% of total retail sales growth, with mobile sales playing a significant role in the growth. This shift towards online platforms allows retailers to reach broader audiences, while investments in data analytics and automation are improving efficiency. Retailers are also focusing on enhancing customer experiences and adopting sustainable practices, which can attract more consumers.
To capitalize on these trends, retail businesses need financial resources for technology upgrades, inventory expansion, and improving operational processes. This is where SBA loans, such as the 7a and 504 programs, can be valuable. The SBA 7a loan offers up to $5 million in funding, providing retailers the flexibility to invest in their business growth, whether it’s for working capital or technology investment. The 504 loan program can help retailers with long-term investments like purchasing real estate or upgrading facilities.
First Bank of the Lake excels in providing these SBA loans, having facilitated over $1.1 billion in funding for small businesses. Our expertise ensures retail owners receive tailored solutions that meet their unique needs, guiding them through the SBA loan process efficiently. We enable retailers to access the capital they need to leverage digital growth, expand operations, and remain competitive in a rapidly evolving market.
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