Bank First, N.A.: SBA business acquisition lending record
Bank First, N.A. (home state WI) approved 43 SBA 7(a) loans to buy existing businesses since FY2018, totaling $36.9M. The median loan was $559,000. It ranks number 192 of 280 lenders by count and made 0.1% 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 $389,300 and $1,098,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Wisconsin is the largest state (100% of loans). Loans appear in only 1 states, which points to a regional lender.
- Industry concentration. Electrical Contractors and Other Wiring Installation Contractors is 9% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 297 SBA 7(a) loans of any purpose since FY2020, totaling $157M. 70% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 9% 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.
Bank First, N.A. acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $692K | $205,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 6 | $4M | $602,500 | |
| FY2021 | 11 | $9.8M | $990,000 | |
| FY2022 | 7 | $5.3M | $462,000 | |
| FY2023 | 4 | $2.4M | $612,750 | |
| FY2024 | 3 | $1.1M | $345,000 | |
| FY2025 | 3 | $5.6M | $2,380,000 | |
| FY2026 | 6 | $8.1M | $754,500 |
How often do these acquisition loans fail?
Of the 20 Bank First, N.A. 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. 5 have already been paid in full.
For comparison, Bank First, N.A. 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 | Wisconsin | 43 | 100.0% | $36.9M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Electrical Contractors and Other Wiring Installation Contractors | 4 | 9.3% | $1.4M | |
| 2 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 2 | 4.7% | $3M | |
| 3 | Commercial and Institutional Building Construction | 2 | 4.7% | $2.8M | |
| 4 | Funeral Homes and Funeral Services | 2 | 4.7% | $1.2M | |
| 5 | Masonry Contractors | 2 | 4.7% | $960K | |
| 6 | General Automotive Repair | 2 | 4.7% | $764K | |
| 7 | Sporting Goods Retailers | 2 | 4.7% | $327K | |
| 8 | Sheet Metal Work Manufacturing | 1 | 2.3% | $3.8M | |
| 9 | Bowling Centers | 1 | 2.3% | $2.4M | |
| 10 | Machine Shops | 1 | 2.3% | $2.4M |
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 | Piggly Wiggly | 1 | 2.3% | $1.2M | |
| 2 | Servpro | 1 | 2.3% | $600K | |
| 3 | Fish Window Cleaning Services | 1 | 2.3% | $465K |
Questions buyers ask
Does Bank First, N.A. make SBA acquisition loans?
Yes. Bank First, N.A. approved 43 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 192 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 Bank First, N.A.'s acquisition loans?
The median was $559,000, with the middle half between $389,300 and $1,098,000. The national median is $645,250, so this lender's typical loan is 13% lower than the national figure.
Which states does Bank First, N.A. lend in?
Wisconsin (43). Its loans appear in 1 states, so it is closer to a regional lender.
Which industries does Bank First, N.A. finance?
Electrical Contractors and Other Wiring Installation Contractors (4), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (2), Commercial and Institutional Building Construction (2), Funeral Homes and Funeral Services (2), Masonry Contractors (2). The top industry is 9% of its acquisition loans.
How have Bank First, N.A.'s acquisition loans performed?
Of 20 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.
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Related
- Wisconsin acquisitions
- Electrical Contractors and Other Wiring Installation Contractors
- Supermarkets and Other Grocery Retailers (except Convenience Retailers)
- Commercial and Institutional Building Construction
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Bank First, N.A..