America First Federal Credit Union: SBA business acquisition lending record
America First Federal Credit Union (home state UT) approved 106 SBA 7(a) loans to buy existing businesses since FY2018, totaling $132M. The median loan was $770,900. It ranks number 93 of 280 lenders by count and made 0.2% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $413,000 and $1,658,050. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Utah is the largest state (25% of loans). Loans appear in only 14 states, which points to a regional lender.
- Industry concentration. Child Care Services is 15% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 759 SBA 7(a) loans of any purpose since FY2020, totaling $759M. 92% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 31% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: none charged off, against the 3.5% national average.
America First Federal Credit Union acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $10.4M | $2,642,250 | |
| FY2019 | 9 | $13.3M | $1,330,700 | |
| FY2020 | 9 | $8.3M | $725,200 | |
| FY2021 | 22 | $24.3M | $733,150 | |
| FY2022 | 17 | $24.5M | $892,000 | |
| FY2023 | 12 | $13.7M | $689,650 | |
| FY2024 | 14 | $17.2M | $672,600 | |
| FY2025 | 8 | $10.1M | $604,100 | |
| FY2026 | 11 | $10.3M | $970,000 |
How often do these acquisition loans fail?
Of the 44 America First Federal Credit Union acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 28 have already been paid in full.
For comparison, America First Federal Credit Union has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Terms signed in the LOI shape the purchase agreement that follows.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Utah | 26 | 24.5% | $31.8M | |
| 2 | Arizona | 26 | 24.5% | $29.7M | |
| 3 | Nevada | 16 | 15.1% | $8.2M | |
| 4 | Idaho | 9 | 8.5% | $10.5M | |
| 5 | California | 8 | 7.5% | $9.6M | |
| 6 | Texas | 5 | 4.7% | $14M | |
| 7 | Georgia | 4 | 3.8% | $9.1M | |
| 8 | North Carolina | 3 | 2.8% | $8.7M | |
| 9 | Florida | 2 | 1.9% | $3.7M | |
| 10 | Alabama | 2 | 1.9% | $2.8M | |
| 11 | Oregon | 2 | 1.9% | $1.6M | |
| 12 | Colorado | 1 | 0.9% | $1.4M | |
| 13 | Pennsylvania | 1 | 0.9% | $743K | |
| 14 | Missouri | 1 | 0.9% | $330K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Child Care Services | 16 | 15.1% | $39.3M | |
| 2 | Assisted Living Facilities for the Elderly | 11 | 10.4% | $13M | |
| 3 | Gasoline Stations with Convenience Stores | 5 | 4.7% | $7.3M | |
| 4 | Full-Service Restaurants | 5 | 4.7% | $4.2M | |
| 5 | Private Mail Centers | 5 | 4.7% | $1.8M | |
| 6 | General Automotive Repair | 4 | 3.8% | $4.5M | |
| 7 | RV (Recreational Vehicle) Parks and Campgrounds | 3 | 2.8% | $5.9M | |
| 8 | Car Washes | 3 | 2.8% | $3.8M | |
| 9 | Convenience Retailers | 3 | 2.8% | $2.1M | |
| 10 | Hotels (except Casino Hotels) and Motels | 2 | 1.9% | $7.3M |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Primrose Schools | 15 | 14.2% | $38.8M | |
| 2 | The UPS Store | 6 | 5.7% | $2.3M | |
| 3 | Travelodge | 1 | 0.9% | $3M | |
| 4 | Kampgrounds of America | 1 | 0.9% | $2M | |
| 5 | Bee Hive Homes | 1 | 0.9% | $1.8M | |
| 6 | Kiddie Academy | 1 | 0.9% | $521K | |
| 7 | Jimmy John's | 1 | 0.9% | $350K | |
| 8 | Express Employment Professionals | 1 | 0.9% | $337K |
Questions buyers ask
Does America First Federal Credit Union make SBA acquisition loans?
Yes. America First Federal Credit Union approved 106 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 93 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are America First Federal Credit Union's acquisition loans?
The median was $770,900, with the middle half between $413,000 and $1,658,050. The national median is $645,250, so this lender's typical loan is 19% higher than the national figure.
Which states does America First Federal Credit Union lend in?
Utah (26), Arizona (26), Nevada (16), Idaho (9), California (8), Texas (5). Its loans appear in 14 states, so it is closer to a regional lender.
Which industries does America First Federal Credit Union finance?
Child Care Services (16), Assisted Living Facilities for the Elderly (11), Gasoline Stations with Convenience Stores (5), Full-Service Restaurants (5), Private Mail Centers (5). The top industry is 15% of its acquisition loans.
How have America First Federal Credit Union's acquisition loans performed?
Of 44 loans approved FY2018 to FY2021: none charged off, against the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Utah acquisitions
- Arizona acquisitions
- Nevada acquisitions
- Child Care Services
- Assisted Living Facilities for the Elderly
- Gasoline Stations with Convenience Stores
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by America First Federal Credit Union.