CenTrust Bank, A Division of SmartBiz Bank National Association: SBA business acquisition lending record
CenTrust Bank, A Division of SmartBiz Bank National Association (home state IL) approved 53 SBA 7(a) loans to buy existing businesses since FY2018, totaling $63.7M. The median loan was $937,000. It ranks number 166 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 $424,000 and $1,818,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Illinois is the largest state (85% of loans). Loans appear in only 5 states, which points to a regional lender.
- Industry concentration. Limited-Service Restaurants is 13% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 1,333 SBA 7(a) loans of any purpose since FY2020, totaling $361M. 9% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 13% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: none charged off, against the 3.5% national average.
CenTrust Bank, A Division of SmartBiz Bank National Association acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 9 | $11.8M | $887,000 | |
| FY2019 | 11 | $13.8M | $753,000 | |
| FY2020 | 13 | $16.1M | $1,100,000 | |
| FY2021 | 2 | $694K | $347,000 | |
| FY2022 | 3 | $5M | $1,728,000 | |
| FY2023 | 6 | $7.3M | $1,063,000 | |
| FY2024 | 5 | $6.8M | $994,000 | |
| FY2025 | 3 | $1.4M | $451,000 | |
| FY2026 | 1 | $845K | $845,000 |
How often do these acquisition loans fail?
Of the 35 CenTrust Bank, A Division of SmartBiz Bank National Association acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 24 have already been paid in full.
For comparison, CenTrust Bank, A Division of SmartBiz Bank National Association has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 7 | 13.2% | $8.3M | |
| 2 | Hotels (except Casino Hotels) and Motels | 3 | 5.7% | $5.7M | |
| 3 | Full-Service Restaurants | 3 | 5.7% | $4.8M | |
| 4 | General Automotive Repair | 2 | 3.8% | $3.9M | |
| 5 | General Freight Trucking, Local | 2 | 3.8% | $3.4M | |
| 6 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 2 | 3.8% | $2.9M | |
| 7 | Testing Laboratories and Services | 2 | 3.8% | $2.3M | |
| 8 | Other Foundation, Structure, and Building Exterior Contractors | 1 | 1.9% | $2.6M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Super 8 | 2 | 3.8% | $4.2M | |
| 2 | Motel 6 | 1 | 1.9% | $1.5M | |
| 3 | Auntie Anne's | 1 | 1.9% | $534K | |
| 4 | Little Caesars | 1 | 1.9% | $351K |
Questions buyers ask
Does CenTrust Bank, A Division of SmartBiz Bank National Association make SBA acquisition loans?
Yes. CenTrust Bank, A Division of SmartBiz Bank National Association approved 53 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 166 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 CenTrust Bank, A Division of SmartBiz Bank National Association's acquisition loans?
The median was $937,000, with the middle half between $424,000 and $1,818,000. The national median is $645,250, so this lender's typical loan is 45% higher than the national figure.
Which states does CenTrust Bank, A Division of SmartBiz Bank National Association lend in?
Illinois (45), Wisconsin (4), Michigan (2), Colorado (1), Georgia (1). Its loans appear in 5 states, so it is closer to a regional lender.
Which industries does CenTrust Bank, A Division of SmartBiz Bank National Association finance?
Limited-Service Restaurants (7), Hotels (except Casino Hotels) and Motels (3), Full-Service Restaurants (3), General Automotive Repair (2), General Freight Trucking, Local (2). The top industry is 13% of its acquisition loans.
How have CenTrust Bank, A Division of SmartBiz Bank National Association's acquisition loans performed?
Of 35 loans approved FY2018 to FY2021: none charged off, against the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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Related
- Illinois acquisitions
- Wisconsin acquisitions
- Michigan acquisitions
- Limited-Service Restaurants
- Hotels (except Casino Hotels) and Motels
- Full-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by CenTrust Bank, A Division of SmartBiz Bank National Association.