Bank of Clarke: SBA business acquisition lending record
Bank of Clarke (home state VA) approved 26 SBA 7(a) loans to buy existing businesses since FY2018, totaling $31.9M. The median loan was $860,000. It ranks number 271 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 $411,500 and $1,461,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Virginia is the largest state (42% of loans). Loans appear in only 7 states, which points to a regional lender.
- Industry concentration. Full-Service Restaurants is 12% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 113 SBA 7(a) loans of any purpose since FY2020, totaling $118M. 19% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 8% 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.
Bank of Clarke acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 2 | $4.1M | $2,034,000 | |
| FY2023 | 4 | $6.7M | $1,768,500 | |
| FY2024 | 8 | $7.2M | $901,350 | |
| FY2025 | 7 | $4.9M | $605,000 | |
| FY2026 | 5 | $9M | $1,346,000 |
How often do these acquisition loans fail?
Fewer than 20 Bank of Clarke 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.
The purchase agreement decides what you bought, not the loan approval.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Virginia | 11 | 42.3% | $11.5M | |
| 2 | Connecticut | 5 | 19.2% | $8.6M | |
| 3 | Maryland | 5 | 19.2% | $3.3M | |
| 4 | Georgia | 2 | 7.7% | $1.5M | |
| 5 | Arizona | 1 | 3.8% | $5M | |
| 6 | New Jersey | 1 | 3.8% | $1.5M | |
| 7 | Pennsylvania | 1 | 3.8% | $411K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 3 | 11.5% | $3.4M | |
| 2 | Commercial Printing (except Screen and Books) | 2 | 7.7% | $2.6M | |
| 3 | Limited-Service Restaurants | 2 | 7.7% | $2.4M | |
| 4 | Site Preparation Contractors | 2 | 7.7% | $1.4M | |
| 5 | Machine Shops | 1 | 3.8% | $5M | |
| 6 | All Other Transit and Ground Passenger Transportation | 1 | 3.8% | $2.5M | |
| 7 | Offices of Certified Public Accountants | 1 | 3.8% | $2M | |
| 8 | Cut Stone and Stone Product Manufacturing | 1 | 3.8% | $1.3M | |
| 9 | Administrative Management and General Management Consulting Services | 1 | 3.8% | $1.2M |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Jimmy John's | 1 | 3.8% | $865K | |
| 2 | The UPS Store | 1 | 3.8% | $411K |
Questions buyers ask
Does Bank of Clarke make SBA acquisition loans?
Yes. Bank of Clarke approved 26 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 271 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 of Clarke's acquisition loans?
The median was $860,000, with the middle half between $411,500 and $1,461,500. The national median is $645,250, so this lender's typical loan is 33% higher than the national figure.
Which states does Bank of Clarke lend in?
Virginia (11), Connecticut (5), Maryland (5), Georgia (2), Arizona (1), New Jersey (1). Its loans appear in 7 states, so it is closer to a regional lender.
Which industries does Bank of Clarke finance?
Full-Service Restaurants (3), Commercial Printing (except Screen and Books) (2), Limited-Service Restaurants (2), Site Preparation Contractors (2), Machine Shops (1). The top industry is 12% of its acquisition loans.
How have Bank of Clarke'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.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- Virginia acquisitions
- Connecticut acquisitions
- Maryland acquisitions
- Full-Service Restaurants
- Commercial Printing (except Screen and Books)
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Bank of Clarke.