BayFirst National Bank: SBA business acquisition lending record
BayFirst National Bank (home state FL) approved 270 SBA 7(a) loans to buy existing businesses since FY2018, totaling $177M. The median loan was $417,500. It ranks number 36 of 280 lenders by count and made 0.6% of all SBA acquisition loans nationally.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $265,000 and $750,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Florida is the largest state (32% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Landscaping Services is 7% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 8,659 SBA 7(a) loans of any purpose since FY2020, totaling $1.6B. 98% 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. Of its loans from FY2018 to FY2021: 10.8% charged off, 206% higher than the 3.5% national average.
BayFirst National Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 25 | $16.1M | $433,500 | |
| FY2019 | 43 | $27.6M | $423,000 | |
| FY2020 | 12 | $9.6M | $464,450 | |
| FY2021 | 22 | $14.7M | $411,500 | |
| FY2022 | 44 | $38.9M | $515,500 | |
| FY2023 | 32 | $20.6M | $464,500 | |
| FY2024 | 39 | $20.2M | $335,000 | |
| FY2025 | 44 | $24.8M | $465,250 | |
| FY2026 | 9 | $4.2M | $293,000 |
How often do these acquisition loans fail?
Of the 102 BayFirst National Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 11 have been charged off by the SBA, a rate of 10.8% by loan count and 5.3% by dollars. 62 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so BayFirst National Bank is 206% higher than the acquisition-loan average. 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.
Seller note standby terms and third-party consents are reviewed before closing.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 87 | 32.2% | $58.9M | |
| 2 | California | 21 | 7.8% | $10.3M | |
| 3 | Pennsylvania | 16 | 5.9% | $7.8M | |
| 4 | Texas | 13 | 4.8% | $7.7M | |
| 5 | North Carolina | 11 | 4.1% | $4.7M | |
| 6 | New York | 10 | 3.7% | $11.1M | |
| 7 | New Jersey | 10 | 3.7% | $4.8M | |
| 8 | Oregon | 8 | 3.0% | $8.7M | |
| 9 | Georgia | 7 | 2.6% | $6.1M | |
| 10 | Nevada | 7 | 2.6% | $3M | |
| 11 | Ohio | 6 | 2.2% | $7.5M | |
| 12 | Missouri | 6 | 2.2% | $4.4M | |
| 13 | South Carolina | 6 | 2.2% | $3.7M | |
| 14 | Washington | 6 | 2.2% | $2.8M | |
| 15 | Colorado | 6 | 2.2% | $2.3M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Landscaping Services | 18 | 6.7% | $9.3M | |
| 2 | Full-Service Restaurants | 14 | 5.2% | $11.9M | |
| 3 | Limited-Service Restaurants | 14 | 5.2% | $6.4M | |
| 4 | General Automotive Repair | 14 | 5.2% | $5.7M | |
| 5 | Janitorial Services | 9 | 3.3% | $4.1M | |
| 6 | Child Care Services | 8 | 3.0% | $5.3M | |
| 7 | All Other Specialty Trade Contractors | 8 | 3.0% | $4.9M | |
| 8 | Pet and Pet Supplies Retailers | 8 | 3.0% | $4.4M | |
| 9 | Beauty Salons | 7 | 2.6% | $3M | |
| 10 | Beer, Wine, and Liquor Retailers | 5 | 1.9% | $3.3M |
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 | Subway | 2 | 0.7% | $1.3M | |
| 2 | Wild Birds Unlimited | 2 | 0.7% | $778K | |
| 3 | Big Frog Custom T-Shirts & More | 2 | 0.7% | $378K | |
| 4 | Jimmy John's | 1 | 0.4% | $2.1M | |
| 5 | The Brass Tap Craft Beer Bar | 1 | 0.4% | $1.7M | |
| 6 | U.S. Lawns | 1 | 0.4% | $756K | |
| 7 | Hoodz | 1 | 0.4% | $737K | |
| 8 | ServiceMaster | 1 | 0.4% | $613K | |
| 9 | Liberty Tax Service | 1 | 0.4% | $473K | |
| 10 | Bruster's Real Ice Cream | 1 | 0.4% | $441K |
Questions buyers ask
Does BayFirst National Bank make SBA acquisition loans?
Yes. BayFirst National Bank approved 270 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 36 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 BayFirst National Bank's acquisition loans?
The median was $417,500, with the middle half between $265,000 and $750,000. The national median is $645,250, so this lender's typical loan is 35% lower than the national figure.
Which states does BayFirst National Bank lend in?
Florida (87), California (21), Pennsylvania (16), Texas (13), North Carolina (11), New York (10). Its loans span at least 15 states.
Which industries does BayFirst National Bank finance?
Landscaping Services (18), Full-Service Restaurants (14), Limited-Service Restaurants (14), General Automotive Repair (14), Janitorial Services (9). The top industry is 7% of its acquisition loans.
How have BayFirst National Bank's acquisition loans performed?
Of 102 loans approved FY2018 to FY2021: 10.8% charged off, 206% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Florida acquisitions
- California acquisitions
- Pennsylvania acquisitions
- Landscaping Services
- Full-Service Restaurants
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by BayFirst National Bank.