Bank of Springfield: SBA business acquisition lending record
Bank of Springfield (home state IL) approved 40 SBA 7(a) loans to buy existing businesses since FY2018, totaling $20.8M. The median loan was $350,000. It ranks number 199 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 $118,950 and $597,750. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Illinois is the largest state (80% of loans). Loans appear in only 4 states, which points to a regional lender.
- Industry concentration. Landscaping Services is 10% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 224 SBA 7(a) loans of any purpose since FY2020, totaling $70.4M. 68% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 3% 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 Springfield acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 6 | $3.7M | $307,050 | |
| FY2021 | 5 | $1.5M | $245,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 2 | $465K | $232,500 | |
| FY2024 | 8 | $5.8M | $588,500 | |
| FY2025 | 10 | $6.8M | $381,500 | |
| FY2026 | 9 | $2.5M | $215,000 |
How often do these acquisition loans fail?
Fewer than 20 Bank of Springfield 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 | Illinois | 32 | 80.0% | $14.9M | |
| 2 | Missouri | 3 | 7.5% | $3.6M | |
| 3 | South Carolina | 3 | 7.5% | $1.8M | |
| 4 | Colorado | 2 | 5.0% | $465K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Landscaping Services | 4 | 10.0% | $759K | |
| 2 | Full-Service Restaurants | 3 | 7.5% | $2.2M | |
| 3 | Fabricated Structural Metal Manufacturing | 3 | 7.5% | $1.8M | |
| 4 | Child Care Services | 2 | 5.0% | $870K | |
| 5 | Site Preparation Contractors | 2 | 5.0% | $765K | |
| 6 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 2 | 5.0% | $658K | |
| 7 | RV (Recreational Vehicle) Parks and Campgrounds | 2 | 5.0% | $630K | |
| 8 | All Other Amusement and Recreation Industries | 2 | 5.0% | $310K |
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Questions buyers ask
Does Bank of Springfield make SBA acquisition loans?
Yes. Bank of Springfield approved 40 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 199 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 Springfield's acquisition loans?
The median was $350,000, with the middle half between $118,950 and $597,750. The national median is $645,250, so this lender's typical loan is 46% lower than the national figure.
Which states does Bank of Springfield lend in?
Illinois (32), Missouri (3), South Carolina (3), Colorado (2). Its loans appear in 4 states, so it is closer to a regional lender.
Which industries does Bank of Springfield finance?
Landscaping Services (4), Full-Service Restaurants (3), Fabricated Structural Metal Manufacturing (3), Child Care Services (2), Site Preparation Contractors (2). The top industry is 10% of its acquisition loans.
How have Bank of Springfield'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.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Illinois acquisitions
- Missouri acquisitions
- South Carolina acquisitions
- Landscaping Services
- Full-Service Restaurants
- Fabricated Structural Metal Manufacturing
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Bank of Springfield.