CIBC Bank USA: SBA business acquisition lending record
CIBC Bank USA (home state IL) approved 137 SBA 7(a) loans to buy existing businesses since FY2018, totaling $164M. The median loan was $778,600. It ranks number 73 of 280 lenders by count and made 0.3% 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 $456,000 and $1,655,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Illinois is the largest state (18% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Home Health Care Services is 28% of its acquisition loans. This is a specialist pattern.
- Overall 7(a) volume. 305 SBA 7(a) loans of any purpose since FY2020, totaling $218M. 85% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 32% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 6.5% charged off, 84% higher than the 3.5% national average.
CIBC Bank USA acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 17 | $22.9M | $748,000 | |
| FY2019 | 12 | $16.3M | $952,600 | |
| FY2020 | 25 | $30.4M | $978,500 | |
| FY2021 | 23 | $30M | $925,400 | |
| FY2022 | 25 | $26M | $651,600 | |
| FY2023 | 11 | $7.2M | $525,200 | |
| FY2024 | 10 | $10M | $433,250 | |
| FY2025 | 8 | $10.6M | $553,600 | |
| FY2026 | 6 | $10.4M | $1,305,450 |
How often do these acquisition loans fail?
Of the 77 CIBC Bank USA acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 5 have been charged off by the SBA, a rate of 6.5% by loan count and 6.1% by dollars. 30 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 CIBC Bank USA is 84% 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 | Illinois | 25 | 18.2% | $32.7M | |
| 2 | California | 13 | 9.5% | $24M | |
| 3 | Texas | 11 | 8.0% | $10.7M | |
| 4 | Florida | 10 | 7.3% | $9.3M | |
| 5 | North Carolina | 7 | 5.1% | $11.1M | |
| 6 | Virginia | 7 | 5.1% | $5.5M | |
| 7 | Nevada | 6 | 4.4% | $6.2M | |
| 8 | Ohio | 6 | 4.4% | $6M | |
| 9 | Georgia | 6 | 4.4% | $4M | |
| 10 | Arizona | 5 | 3.6% | $6.8M | |
| 11 | Michigan | 5 | 3.6% | $3.4M | |
| 12 | Indiana | 3 | 2.2% | $4.4M | |
| 13 | New York | 3 | 2.2% | $4.2M | |
| 14 | Colorado | 3 | 2.2% | $2.9M | |
| 15 | Oregon | 3 | 2.2% | $1.6M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Home Health Care Services | 38 | 27.7% | $26.2M | |
| 2 | Full-Service Restaurants | 5 | 3.6% | $3.4M | |
| 3 | Residential Remodelers | 4 | 2.9% | $4.7M | |
| 4 | Engineering Services | 4 | 2.9% | $3.2M | |
| 5 | All Other Specialty Trade Contractors | 3 | 2.2% | $5.1M | |
| 6 | Marketing Consulting Services | 3 | 2.2% | $5M | |
| 7 | Other Services to Buildings and Dwellings | 3 | 2.2% | $1.8M | |
| 8 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 2 | 1.5% | $4M | |
| 9 | Services for the Elderly and Persons with Disabilities | 2 | 1.5% | $3.8M | |
| 10 | Couriers and Express Delivery Services | 2 | 1.5% | $3.6M |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Senior Helpers | 18 | 13.1% | $8.1M | |
| 2 | Servpro | 3 | 2.2% | $5M | |
| 3 | Visiting Angels | 3 | 2.2% | $1.6M | |
| 4 | Amada Senior Care | 2 | 1.5% | $3.7M | |
| 5 | Comfort Keepers | 2 | 1.5% | $2.8M | |
| 6 | SYNERGY HomeCare | 2 | 1.5% | $1.7M | |
| 7 | Home Instead | 2 | 1.5% | $1.1M | |
| 8 | Signarama | 2 | 1.5% | $945K | |
| 9 | Closet Factory | 1 | 0.7% | $2.4M | |
| 10 | ComForCare Home Care | 1 | 0.7% | $1.9M |
Questions buyers ask
Does CIBC Bank USA make SBA acquisition loans?
Yes. CIBC Bank USA approved 137 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 73 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 CIBC Bank USA's acquisition loans?
The median was $778,600, with the middle half between $456,000 and $1,655,000. The national median is $645,250, so this lender's typical loan is 21% higher than the national figure.
Which states does CIBC Bank USA lend in?
Illinois (25), California (13), Texas (11), Florida (10), North Carolina (7), Virginia (7). Its loans span at least 15 states.
Which industries does CIBC Bank USA finance?
Home Health Care Services (38), Full-Service Restaurants (5), Residential Remodelers (4), Engineering Services (4), All Other Specialty Trade Contractors (3). The top industry is 28% of its acquisition loans.
How have CIBC Bank USA's acquisition loans performed?
Of 77 loans approved FY2018 to FY2021: 6.5% charged off, 84% higher than 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
- California acquisitions
- Texas acquisitions
- Home Health Care Services
- Full-Service Restaurants
- Residential Remodelers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by CIBC Bank USA.