Lenders › First Federal Bank
7(a) lenderLake City, FloridaFDIC-insured bank343rd of 2,184 by approvals
First Federal Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
In FY2021 to FY2025 SBA approved 89 7(a) loans, worth $55.5M, through First Federal Bank of Lake City, Florida, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 343rd among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 17 approvals totalling $9.9M, down 26% on FY2024 (23). FY2026 to 30 Jun 2026 adds 11 more.
The median approval was $541K, against $190K for the 7(a) program as a whole; 16.9% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 4 states and territories and 35 counties, led by Florida (79.8%), South Carolina (13.5%) and Georgia (5.6%). The largest industry group was accommodation and food services at 30.3% of approvals, and 32.6% of approvals were to franchise businesses.
Of 314 disbursed loans approved in FY2010 to FY2021, SBA records 15 as charged off (4.8%), 253 as paid in full and 46 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 11 | $8.7M | $680K | $794K | 101 |
| FY2025 | 17 | $9.9M | $473K | $582K | 76 |
| FY2024 | 23 | $11.9M | $335K | $516K | 245 |
| FY2023 | 26 | $15.1M | $536K | $581K | 368 |
| FY2022 | 10 | $6.4M | $666K | $637K | 94 |
| FY2021 | 13 | $12.2M | $624K | $941K | 178 |
| FY2020 | 19 | $14.5M | $474K | $763K | 272 |
| FY2019 | 7 | $9.3M | $750K | $1.3M | 83 |
| FY2018 | 16 | $21.3M | $806K | $1.3M | 253 |
| FY2017 | 36 | $29.9M | $570K | $831K | 710 |
| FY2016 | 38 | $34.9M | $563K | $917K | 427 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 116 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Florida | 7(a) program |
|---|---|---|---|
| Approvals in these years | 375 | 31,863 | 639,905 |
| Cancelled or never disbursed | 61 | 3,596 | 79,313 |
| Disbursed loans | 314 | 28,267 | 560,592 |
| Paid in full | 253 | 20,064 | 435,813 |
| Charged off | 15 | 2,783 | 36,891 |
| Still outstanding (status exempt from disclosure) | 46 | 5,420 | 87,888 |
| Charged off, share of disbursed loans | 4.8% | 9.8% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.7% | 3.1% | 2.5% |
| Dollars charged off | $5.1M | $442M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 11 | 1 | 0 | — | 2.8% |
| FY2020 | 13 | 8 | 0 | — | 4.0% |
| FY2019 | 6 | 4 | 0 | — | 6.7% |
| FY2018 | 13 | 10 | 1 | — | 7.9% |
| FY2017 | 31 | 22 | 3 | 9.7% | 7.7% |
| FY2016 | 30 | 29 | 0 | 0.0% | 7.2% |
| FY2015 | 42 | 35 | 3 | 7.1% | 6.9% |
| FY2014 | 55 | 47 | 3 | 5.5% | 6.4% |
| FY2013 | 43 | 38 | 0 | 0.0% | 6.0% |
| FY2012 | 26 | 22 | 3 | — | 6.3% |
| FY2011 | 34 | 28 | 1 | 2.9% | 6.9% |
| FY2010 | 10 | 9 | 1 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $541K | $190K |
| Average approval | $623K | $518K |
| Approvals of $150,000 or less | 16.9% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 66.3% | 34.3% |
| Approvals to franchise businesses | 32.6% | 11.5% |
| Jobs supported per approval, as reported | 10.8 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.8% | 6.6% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Florida | 71 | $46.7M | 79.8% | |
| 2 | South Carolina | 12 | $4.8M | 13.5% | |
| 3 | Georgia | 5 | $3.2M | 5.6% | |
| 4 | North Carolina | 1 | — | 1.1% |
In Florida the lender accounts for 0.3% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (35 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Beaufort County, SC | 10 | $3.9M | 11.2% | |
| 2 | Alachua County, FL | 9 | $7.2M | 10.1% | |
| 3 | Duval County, FL | 8 | $4.3M | 9.0% | |
| 4 | Marion County, FL | 7 | $5.7M | 7.9% | |
| 5 | Baker County, FL | 5 | $2.3M | 5.6% | |
| 6 | Bay County, FL | 4 | $4.4M | 4.5% | |
| 7 | Pasco County, FL | 4 | $2.5M | 4.5% | |
| 8 | Columbia County, FL | 4 | $1.6M | 4.5% | |
| 9 | Suwannee County, FL | 4 | $633K | 4.5% | |
| 10 | Orange County, FL | 3 | $1.2M | 3.4% | |
| 11 | Taylor County, FL | 2 | — | 2.2% | |
| 12 | Holmes County, FL | 2 | — | 2.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 27 | 30.3% | |
| 2 | Retail Trade | 11 | 12.4% | |
| 3 | Health Care and Social Assistance | 11 | 12.4% | |
| 4 | Other Services (except Public Administration) | 10 | 11.2% | |
| 5 | Construction | 7 | 7.9% | |
| 6 | Professional, Scientific, and Technical Services | 6 | 6.7% | |
| 7 | Manufacturing | 5 | 5.6% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 3 | 3.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 25 | 28.1% | |
| 2 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 3 | 3.4% | |
| 3 | Building Equipment ContractorsNAICS 2382 | 3 | 3.4% | |
| 4 | Personal Care ServicesNAICS 8121 | 3 | 3.4% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 3.4% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 3.4% | |
| 7 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 3.4% | |
| 8 | Other Schools and InstructionNAICS 6116 | 3 | 3.4% | |
| 9 | Offices of PhysiciansNAICS 6211 | 3 | 3.4% | |
| 10 | Other Ambulatory Health Care ServicesNAICS 6219 | 2 | 2.2% |
Approval sizes
- $50,000 or less1.1%1
- $50,001 to $150,00015.7%14
- $150,001 to $350,00021.3%19
- $350,001 to $1 million43.8%39
- $1 million to $2 million16.9%15
- Over $2 million1.1%1
Loan terms
- 5 years or less3.4%3
- Over 5 to 10 years34.8%31
- Over 10 to 20 years22.5%20
- Over 20 years39.3%35
Age of the businesses
- Existing, more than 2 years old29.2%26
- New business, 2 years or less13.5%12
- Startup, loan funds will open the business52.8%47
- Change of ownership4.5%4
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 83 | 93.3% | |
| 2 | 7a General | 6 | 6.7% |
Franchise share
29 of 89 approvals in FY2021–FY2025 (32.6%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Ellianos Coffee Company | 16 | 18.0% | |
| 2 | Fazoli's | 1 | 1.1% | |
| 3 | Line-X | 1 | 1.1% | |
| 4 | Parlor Doughnuts | 1 | 1.1% | |
| 5 | Blaze Pizza | 1 | 1.1% | |
| 6 | Zaxby's | 1 | 1.1% | |
| 7 | Little Caesars | 1 | 1.1% | |
| 8 | Huey Magoo's Chicken Tenders | 1 | 1.1% |
Questions and answers
How many SBA loans does First Federal Bank make?
SBA approved 17 7(a) loans through First Federal Bank in FY2025, worth $9.9M, and 89 over FY2021 to FY2025. That ranks 343rd of 2,184 active 7(a) lenders by number of approvals.
How large are First Federal Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $541K and the average $623K. The program-wide median was $190K.
What is First Federal Bank's charge-off rate?
Of 314 disbursed loans approved in FY2010 to FY2021, SBA records 15 as charged off (4.8%), 253 as paid in full and 46 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does First Federal Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (25); other professional, scientific, and technical services (3); building equipment contractors (3); personal care services (3).
Where does First Federal Bank make SBA loans?
In 4 states and territories. Florida 71, South Carolina 12, Georgia 5, North Carolina 1. In Florida it accounts for 0.3% of all 7(a) approvals.
Is First Federal Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 66, against 42 in the three before: rising (+57%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error