Bangor Savings Bank: SBA business acquisition lending record
Bangor Savings Bank (home state ME) approved 41 SBA 7(a) loans to buy existing businesses since FY2018, totaling $11.8M. The median loan was $175,000. It ranks number 194 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $75,600 and $280,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Maine is the largest state (76% of loans). Loans appear in only 2 states, which points to a regional lender.
- Industry concentration. Electrical Contractors and Other Wiring Installation Contractors is 7% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 374 SBA 7(a) loans of any purpose since FY2020, totaling $70.4M. 59% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 0% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Too few of its loans are old enough to measure a charge-off rate.
Bangor Savings Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $25K | $25,000 | |
| FY2019 | 8 | $1.1M | $77,500 | |
| FY2020 | 4 | $2.2M | $137,800 | |
| FY2021 | 5 | $1.2M | $246,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 2 | $350K | $175,000 | |
| FY2024 | 5 | $956K | $170,000 | |
| FY2025 | 9 | $3M | $212,000 | |
| FY2026 | 7 | $3M | $250,000 |
How often do these acquisition loans fail?
Fewer than 20 Bangor Savings Bank acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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 | Maine | 31 | 75.6% | $6.3M | |
| 2 | New Hampshire | 10 | 24.4% | $5.6M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Electrical Contractors and Other Wiring Installation Contractors | 3 | 7.3% | $1.2M | |
| 2 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 3 | 7.3% | $516K | |
| 3 | Computer Systems Design Services | 2 | 4.9% | $2M | |
| 4 | Hotels (except Casino Hotels) and Motels | 2 | 4.9% | $565K | |
| 5 | Plumbing, Heating, and Air-Conditioning Contractors | 2 | 4.9% | $475K | |
| 6 | Administrative Management and General Management Consulting Services | 2 | 4.9% | $258K | |
| 7 | Painting and Wall Covering Contractors | 2 | 4.9% | $180K | |
| 8 | Fitness and Recreational Sports Centers | 2 | 4.9% | $146K | |
| 9 | Used Car Dealers | 2 | 4.9% | $100K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
Does Bangor Savings Bank make SBA acquisition loans?
Yes. Bangor Savings Bank approved 41 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 194 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 Bangor Savings Bank's acquisition loans?
The median was $175,000, with the middle half between $75,600 and $280,000. The national median is $645,250, so this lender's typical loan is 73% lower than the national figure.
Which states does Bangor Savings Bank lend in?
Maine (31), New Hampshire (10). Its loans appear in 2 states, so it is closer to a regional lender.
Which industries does Bangor Savings Bank finance?
Electrical Contractors and Other Wiring Installation Contractors (3), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (3), Computer Systems Design Services (2), Hotels (except Casino Hotels) and Motels (2), Plumbing, Heating, and Air-Conditioning Contractors (2). The top industry is 7% of its acquisition loans.
How have Bangor Savings Bank's acquisition loans performed?
Fewer than 20 of this lender's loans are old enough to measure. The national benchmark is 3.5% for the FY2018 to FY2021 cohort.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Maine acquisitions
- New Hampshire acquisitions
- Electrical Contractors and Other Wiring Installation Contractors
- Supermarkets and Other Grocery Retailers (except Convenience Retailers)
- Computer Systems Design Services
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Bangor Savings Bank.