Celtic Bank Corporation: SBA business acquisition lending record
Celtic Bank Corporation (home state UT) approved 810 SBA 7(a) loans to buy existing businesses since FY2018, totaling $1.2B. The median loan was $1,001,350. It ranks number 5 of 280 lenders by count and made 1.7% 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 $585,000 and $2,003,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. California is the largest state (24% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Gasoline Stations with Convenience Stores is 14% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 5,479 SBA 7(a) loans of any purpose since FY2020, totaling $3.7B. 98% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 27% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 3.7% charged off, in line with the 3.5% national average.
Celtic Bank Corporation acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 24 | $31.6M | $1,241,500 | |
| FY2019 | 94 | $121M | $889,850 | |
| FY2020 | 132 | $190M | $974,000 | |
| FY2021 | 159 | $241M | $1,048,800 | |
| FY2022 | 80 | $125M | $1,309,000 | |
| FY2023 | 68 | $125M | $1,143,500 | |
| FY2024 | 89 | $142M | $945,000 | |
| FY2025 | 81 | $105M | $830,000 | |
| FY2026 | 83 | $122M | $968,000 |
How often do these acquisition loans fail?
Of the 409 Celtic Bank Corporation acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 15 have been charged off by the SBA, a rate of 3.7% by loan count and 1.1% by dollars. 248 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 Celtic Bank Corporation is in line with 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.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 196 | 24.2% | $322M | |
| 2 | Texas | 92 | 11.4% | $122M | |
| 3 | Arizona | 55 | 6.8% | $55.7M | |
| 4 | Florida | 52 | 6.4% | $75.1M | |
| 5 | Washington | 36 | 4.4% | $77M | |
| 6 | Utah | 36 | 4.4% | $29M | |
| 7 | Colorado | 32 | 4.0% | $32.6M | |
| 8 | Michigan | 24 | 3.0% | $25.8M | |
| 9 | Ohio | 22 | 2.7% | $41.6M | |
| 10 | Wisconsin | 20 | 2.5% | $24.1M | |
| 11 | Georgia | 17 | 2.1% | $31.2M | |
| 12 | Oregon | 16 | 2.0% | $34.8M | |
| 13 | Maryland | 16 | 2.0% | $17.8M | |
| 14 | Illinois | 15 | 1.9% | $26.2M | |
| 15 | New York | 14 | 1.7% | $21.8M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 117 | 14.4% | $261M | |
| 2 | Hotels (except Casino Hotels) and Motels | 85 | 10.5% | $231M | |
| 3 | General Freight Trucking, Local | 68 | 8.4% | $77.6M | |
| 4 | Full-Service Restaurants | 43 | 5.3% | $31.1M | |
| 5 | Assisted Living Facilities for the Elderly | 36 | 4.4% | $68.3M | |
| 6 | Beer, Wine, and Liquor Retailers | 36 | 4.4% | $38.8M | |
| 7 | Car Washes | 27 | 3.3% | $44.5M | |
| 8 | Limited-Service Restaurants | 26 | 3.2% | $21.8M | |
| 9 | Nursing Care Facilities (Skilled Nursing Facilities) | 20 | 2.5% | $44.6M | |
| 10 | Couriers and Express Delivery Services | 15 | 1.9% | $13.2M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Motel 6 | 8 | 1.0% | $29.6M | |
| 2 | Super 8 | 7 | 0.9% | $13.7M | |
| 3 | AM/PM Mini-Mart | 6 | 0.7% | $22.3M | |
| 4 | Chevron | 6 | 0.7% | $18.8M | |
| 5 | Subway | 6 | 0.7% | $2.6M | |
| 6 | Days Inn | 5 | 0.6% | $15.8M | |
| 7 | Rodeway Inn | 4 | 0.5% | $10.8M | |
| 8 | World Fuel Services | 4 | 0.5% | $10M | |
| 9 | Urban Air Adventure Park | 4 | 0.5% | $8.7M | |
| 10 | Boyett Petroleum | 4 | 0.5% | $7M |
Questions buyers ask
Does Celtic Bank Corporation make SBA acquisition loans?
Yes. Celtic Bank Corporation approved 810 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 5 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 Celtic Bank Corporation's acquisition loans?
The median was $1,001,350, with the middle half between $585,000 and $2,003,000. The national median is $645,250, so this lender's typical loan is 55% higher than the national figure.
Which states does Celtic Bank Corporation lend in?
California (196), Texas (92), Arizona (55), Florida (52), Washington (36), Utah (36). Its loans span at least 15 states.
Which industries does Celtic Bank Corporation finance?
Gasoline Stations with Convenience Stores (117), Hotels (except Casino Hotels) and Motels (85), General Freight Trucking, Local (68), Full-Service Restaurants (43), Assisted Living Facilities for the Elderly (36). The top industry is 14% of its acquisition loans.
How have Celtic Bank Corporation's acquisition loans performed?
Of 409 loans approved FY2018 to FY2021: 3.7% charged off, in line with the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
SBA 7(a) acquisitions, nationwide. Free consultation.
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Related
- California acquisitions
- Texas acquisitions
- Arizona acquisitions
- Gasoline Stations with Convenience Stores
- Hotels (except Casino Hotels) and Motels
- General Freight Trucking, Local
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Celtic Bank Corporation.