First Federal Bank

This is a local bank that offers SBA loan programs and financial services to support small business growth and development in the Lake City area.

It's recommended to schedule an appointment to meet with a loan officer, but walk-ins are also welcome during business hours.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.

There are no fees to access basic banking services; fees may apply for specific loan processing or advisory services.

This bank primarily serves local residents and small business owners in the Lake City area, but other clients may also be eligible.

A minimum personal credit score of 640 is generally required for SBA loan applicants.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.

Most banks keep weekday business hours and are closed on weekends, and First Federal Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call First Federal Bank to confirm current weekend availability before you go.

First Federal Bank is located in Florida — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for First Federal Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by First Federal Bank itself, which runs its own lending under its own ownership. If you work at First Federal Bank, you can claim this listing from this page to manage it.

The core details for First Federal Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with First Federal Bank before applying. If you represent First Federal Bank, claim this listing to keep its information up to date.

You can reach First Federal Bank by phone at (386) 755-0600 or online at ffbf.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with First Federal Bank before relying on them.

Based on its approved SBA loans, First Federal Bank most often finances businesses in restaurants & food service, general retail, childcare & early education, medical practices & clinics, hotels & lodging, and manufacturing. This reflects First Federal Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with First Federal Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether First Federal Bank participates in SBA Express depends on its specific SBA lending authority. Contact First Federal Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. First Federal Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

First Federal Bank offers SBA 7(a) loans explicitly for startups, which provide multi-purpose funding for business establishment and growth. Confirm current startup credit and collateral requirements with their SBA lending team.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask First Federal Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask First Federal Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with First Federal Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. First Federal Bank weighs this case by case under its own policy, so be upfront about your history and ask First Federal Bank how it evaluates prior bankruptcies.