BancFirst: SBA business acquisition lending record
BancFirst (home state OK) approved 87 SBA 7(a) loans to buy existing businesses since FY2018, totaling $66M. The median loan was $374,000. It ranks number 110 of 280 lenders by count and made 0.2% of all SBA acquisition loans nationally.
The purchase agreement decides what you bought, not the loan approval.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $180,000 and $933,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Oklahoma is the largest state (92% of loans). Loans appear in only 5 states, which points to a regional lender.
- Industry concentration. Full-Service Restaurants is 6% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 707 SBA 7(a) loans of any purpose since FY2020, totaling $286M. 72% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 20% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 14.8% charged off, 321% higher than the 3.5% national average.
BancFirst acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $2.6M | $1,240,000 | |
| FY2019 | 6 | $3M | $245,750 | |
| FY2020 | 9 | $7.3M | $432,000 | |
| FY2021 | 9 | $2.4M | $236,000 | |
| FY2022 | 18 | $14.8M | $688,500 | |
| FY2023 | 11 | $8.3M | $395,000 | |
| FY2024 | 6 | $4.9M | $641,250 | |
| FY2025 | 8 | $8.9M | $366,700 | |
| FY2026 | 17 | $13.8M | $290,000 |
How often do these acquisition loans fail?
Of the 27 BancFirst acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 4 have been charged off by the SBA, a rate of 14.8% by loan count and 6.2% by dollars. 11 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so BancFirst is 321% higher than the acquisition-loan average. 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
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 5 | 5.7% | $5.1M | |
| 2 | All Other Specialty Trade Contractors | 3 | 3.4% | $5.2M | |
| 3 | Limited-Service Restaurants | 3 | 3.4% | $2.1M | |
| 4 | Nursery, Garden Center, and Farm Supply Retailers | 3 | 3.4% | $2.1M | |
| 5 | Cafeterias, Grill Buffets, and Buffets | 3 | 3.4% | $1.4M | |
| 6 | Insurance Agencies and Brokerages | 3 | 3.4% | $825K | |
| 7 | All Other Professional, Scientific, and Technical Services | 3 | 3.4% | $666K | |
| 8 | Commercial Screen Printing | 3 | 3.4% | $320K | |
| 9 | Electrical Contractors and Other Wiring Installation Contractors | 2 | 2.3% | $3M |
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Cicis Pizza | 4 | 4.6% | $1.6M | |
| 2 | Mathnasium | 2 | 2.3% | $722K | |
| 3 | Holiday Inn Express | 1 | 1.1% | $5M | |
| 4 | Schlotzsky's | 1 | 1.1% | $1.5M | |
| 5 | Subway | 1 | 1.1% | $450K | |
| 6 | Rocky Mountain Chocolate Factory | 1 | 1.1% | $246K | |
| 7 | Club Pilates | 1 | 1.1% | $244K | |
| 8 | Farmers Insurance | 1 | 1.1% | $99K |
Questions buyers ask
Does BancFirst make SBA acquisition loans?
Yes. BancFirst approved 87 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 110 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 BancFirst's acquisition loans?
The median was $374,000, with the middle half between $180,000 and $933,000. The national median is $645,250, so this lender's typical loan is 42% lower than the national figure.
Which states does BancFirst lend in?
Oklahoma (80), Texas (4), Kansas (1), Missouri (1), Florida (1). Its loans appear in 5 states, so it is closer to a regional lender.
Which industries does BancFirst finance?
Full-Service Restaurants (5), All Other Specialty Trade Contractors (3), Limited-Service Restaurants (3), Nursery, Garden Center, and Farm Supply Retailers (3), Cafeterias, Grill Buffets, and Buffets (3). The top industry is 6% of its acquisition loans.
How have BancFirst's acquisition loans performed?
Of 27 loans approved FY2018 to FY2021: 14.8% charged off, 321% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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Related
- Oklahoma acquisitions
- Texas acquisitions
- Kansas acquisitions
- Full-Service Restaurants
- All Other Specialty Trade Contractors
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by BancFirst.