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USDA Loans

Growing and creating job opportunities by backing local business!
You specialize in business. We specialize in business financing!

We’re more than lenders. We’re your lending partner.

As a nationwide lender, we have the resources and extensive experience to tailor solutions for your business.

Our goal is to support your vision with financing that makes good business sense. If you’re looking to start or expand your business, we offer loans that are designed to meet your needs.


You specialize in business. We specialize in business financing.

Small businesses make a big impact on our economy, our communities, and our families. When businesses are strong and growing, communities thrive. It makes good sense to support businesses with accessible financing to support these rural communities. First Bank of the Lake has the experience to help you fund your vision of owning or growing a business with government-backed loans through the U.S. Department of Agriculture (USDA).

The USDA provides loans to local businesses for projects that create and retain employment in rural areas. Providing an opportunity for stability, growth and expansion to new or existing businesses in communities of 50,000 people or less.

The specialized financing team at First Bank of the Lake is well-versed in USDA financing solutions suited to fit your business’ needs. We have worked to secure funding for rural businesses across the country and continue to support these communities with the help of USDA programs. Your business requires your full-time attention and you need to be able to rely on the skills and expertise of a lending team that is familiar with the ins and outs of USDA programs.

Let us guide your financing to help build rural America together.

Thriving businesses are important-and not just in big cities. Rural businesses are the lifeblood of our small towns and play an essential role across the country.

Let us see how one of these loans may fit your needs: 

Our Lending Process. Underwriting, Loan Closing & Ongoing Service

Get started today!

Take advantage of financing options through the USDA program

  • Lower down payments
  • Longer terms to maximize cash flow
  • Designed to help rural communities grow and add jobs
  • Encourages the development and construction of renewable energy projects such as solar and wind power

First Bank of the Lake offers the following loans in partnership with the USDA.

  • Loans to small businesses in rural areas
  • Loans to owner-operated farms and ranches
  • Loans to non-profit
  • Loans can typically be used for the following purposes
    • Renewable Energy
    • Equipment Financing
    • Real-estate Financing
    • Inventory Purchasing
    • Working Capital
    • Energy Efficiency Projects

Plus, with First Bank of the Lake you’ll enjoy:

  • Expert support and advice
  • Quick Response
  • Flexible Options
  • Experienced Underwriters 

USDA Loans

A great tool for rural businesses! 

Use of Proceeds

USDA business loans can be used for a variety of business purposes, including the following:
  • Developing, converting, modernizing, enlarging, or repairing your business.
  • Land purchase and development
  • Purchasing equipment, machinery, or commercial leasehold improvements
  • Purchasing supplies or inventory
  • Refinance existing debt, if new jobs will be created by your project or other conditions are met.
  • Business and industrial acquisitions when the loan will keep the business from closing or will save or create jobs
Please note: Loans cannot be used for charitable organizations, religious institutions, lending or insurance businesses, golf courses or racetracks.


Maximum Loan Amounts

The maximum you can borrow is usually $10 million (it’s higher for certain types of projects). There’s no set minimum, but there are limits on how much you can borrow based on the value of your project and what you’re using the funds for. The maximum loan-to-value cannot exceed the following:
  • 80% for real estate
  • 70% for equipment

From start to finish, we’re here for you!

You’ll have the support of a nationwide preferred lender with an experienced underwriting and closing team. We’re ready to guide you through each transaction.
  • Deal Dynamics and Structuring
  • Due Diligence Process
  • Industry Insights

If your business is located in a rural community, you may be able to take advantage of loans from the U.S. Department of Agriculture (USDA). To qualify as a rural business, you must be in a community or area with a population under 50,000. This Eligibility Tool from the USDA can help you determine if you qualify by your address.


Business ideas can grow into a thriving company, expand into new markets and take your business to the next level of success.

Our team of lending experts is ready to help get the money your business needs.




All loans are subject to credit approval. Restrictions and limitations may apply. First Bank of the Lake does not provide tax, legal or investment advice. All decisions concerning these matters should be made in conjunction with your professional advisors.
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Your 1st source for USDA Business Lending!  Let's talk.