Bank of Oak Ridge: SBA business acquisition lending record
Bank of Oak Ridge (home state NC) approved 52 SBA 7(a) loans to buy existing businesses since FY2018, totaling $63.7M. The median loan was $743,500. It ranks number 168 of 280 lenders by count and made 0.1% 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 $383,250 and $1,572,375. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. North Carolina is the largest state (65% of loans). Loans appear in only 6 states, which points to a regional lender.
- Industry concentration. All Other Specialty Trade Contractors is 10% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 185 SBA 7(a) loans of any purpose since FY2020, totaling $195M. 88% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 19% 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 Oak Ridge acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 2 | $867K | $433,350 | |
| FY2020 | 2 | $6.2M | $3,094,400 | |
| FY2021 | 3 | $1.5M | $549,000 | |
| FY2022 | 10 | $9.5M | $771,500 | |
| FY2023 | 4 | $3.2M | $670,500 | |
| FY2024 | 7 | $11.3M | $1,463,000 | |
| FY2025 | 10 | $9.4M | $849,500 | |
| FY2026 | 14 | $21.8M | $948,250 |
How often do these acquisition loans fail?
Fewer than 20 Bank of Oak Ridge 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 | North Carolina | 34 | 65.4% | $43.2M | |
| 2 | Virginia | 9 | 17.3% | $9.1M | |
| 3 | South Carolina | 5 | 9.6% | $6M | |
| 4 | Georgia | 2 | 3.8% | $4.8M | |
| 5 | Maryland | 1 | 1.9% | $387K | |
| 6 | Tennessee | 1 | 1.9% | $254K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | All Other Specialty Trade Contractors | 5 | 9.6% | $4.2M | |
| 2 | Pet and Pet Supplies Retailers | 5 | 9.6% | $4M | |
| 3 | Hotels (except Casino Hotels) and Motels | 4 | 7.7% | $11.3M | |
| 4 | Beauty Salons | 3 | 5.8% | $3.3M | |
| 5 | Funeral Homes and Funeral Services | 2 | 3.8% | $8M | |
| 6 | New Single-Family Housing Construction (except For-Sale Builders) | 2 | 3.8% | $3M | |
| 7 | Cut Stone and Stone Product Manufacturing | 2 | 3.8% | $2.1M | |
| 8 | Child Care Services | 2 | 3.8% | $2M | |
| 9 | Landscape Architectural Services | 2 | 3.8% | $1.7M | |
| 10 | Snack and Nonalcoholic Beverage Bars | 2 | 3.8% | $1.4M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Pet Supplies Plus | 3 | 5.8% | $3M | |
| 2 | Clarion Inn | 1 | 1.9% | $4.4M | |
| 3 | Baymont | 1 | 1.9% | $3.5M | |
| 4 | Great Clips | 1 | 1.9% | $2.5M | |
| 5 | Rodeway Inn | 1 | 1.9% | $1.7M | |
| 6 | Econo Lodge | 1 | 1.9% | $1.7M | |
| 7 | Outdoor Lighting Perspectives | 1 | 1.9% | $567K |
Questions buyers ask
Does Bank of Oak Ridge make SBA acquisition loans?
Yes. Bank of Oak Ridge approved 52 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 168 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 Oak Ridge's acquisition loans?
The median was $743,500, with the middle half between $383,250 and $1,572,375. The national median is $645,250, so this lender's typical loan is 15% higher than the national figure.
Which states does Bank of Oak Ridge lend in?
North Carolina (34), Virginia (9), South Carolina (5), Georgia (2), Maryland (1), Tennessee (1). Its loans appear in 6 states, so it is closer to a regional lender.
Which industries does Bank of Oak Ridge finance?
All Other Specialty Trade Contractors (5), Pet and Pet Supplies Retailers (5), Hotels (except Casino Hotels) and Motels (4), Beauty Salons (3), Funeral Homes and Funeral Services (2). The top industry is 10% of its acquisition loans.
How have Bank of Oak Ridge'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.
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Related
- North Carolina acquisitions
- Virginia acquisitions
- South Carolina acquisitions
- All Other Specialty Trade Contractors
- Pet and Pet Supplies Retailers
- Hotels (except Casino Hotels) and Motels
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Bank of Oak Ridge.