Citizens Bank: SBA business acquisition lending record
Citizens Bank (home state TN) approved 312 SBA 7(a) loans to buy existing businesses since FY2018, totaling $262M. The median loan was $510,100. It ranks number 27 of 280 lenders by count and made 0.6% of all SBA acquisition loans nationally.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $349,975 and $996,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Texas is the largest state (12% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Gasoline Stations with Convenience Stores is 11% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 1,665 SBA 7(a) loans of any purpose since FY2020, totaling $1.2B. 92% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 35% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 5.2% charged off, 49% higher than the 3.5% national average.
Citizens Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 27 | $31.5M | $522,000 | |
| FY2019 | 48 | $31.3M | $350,000 | |
| FY2020 | 39 | $37.9M | $510,700 | |
| FY2021 | 40 | $31.3M | $483,000 | |
| FY2022 | 18 | $15.5M | $610,750 | |
| FY2023 | 38 | $24.5M | $499,850 | |
| FY2024 | 31 | $21.8M | $500,000 | |
| FY2025 | 37 | $32.6M | $540,000 | |
| FY2026 | 34 | $36M | $722,500 |
How often do these acquisition loans fail?
Of the 153 Citizens Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 8 have been charged off by the SBA, a rate of 5.2% by loan count and 1.7% by dollars. 80 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 Citizens Bank is 49% 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 | Texas | 36 | 11.5% | $41.5M | |
| 2 | Florida | 33 | 10.6% | $28.2M | |
| 3 | North Carolina | 27 | 8.7% | $27.5M | |
| 4 | Georgia | 25 | 8.0% | $16.9M | |
| 5 | California | 23 | 7.4% | $14.8M | |
| 6 | Wisconsin | 20 | 6.4% | $9.9M | |
| 7 | South Carolina | 13 | 4.2% | $10.9M | |
| 8 | Utah | 11 | 3.5% | $7.2M | |
| 9 | Louisiana | 10 | 3.2% | $7.9M | |
| 10 | Tennessee | 10 | 3.2% | $5.1M | |
| 11 | Illinois | 8 | 2.6% | $16.5M | |
| 12 | Virginia | 8 | 2.6% | $5.1M | |
| 13 | New York | 8 | 2.6% | $4.6M | |
| 14 | Colorado | 7 | 2.2% | $3.8M | |
| 15 | Arizona | 6 | 1.9% | $7.3M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 34 | 10.9% | $38.9M | |
| 2 | Offices of Chiropractors | 31 | 9.9% | $12.8M | |
| 3 | Full-Service Restaurants | 16 | 5.1% | $8.1M | |
| 4 | Hotels (except Casino Hotels) and Motels | 15 | 4.8% | $49M | |
| 5 | Beer, Wine, and Liquor Retailers | 13 | 4.2% | $12.3M | |
| 6 | Child Care Services | 11 | 3.5% | $9.5M | |
| 7 | General Automotive Repair | 11 | 3.5% | $7.6M | |
| 8 | Limited-Service Restaurants | 11 | 3.5% | $3.5M | |
| 9 | Private Mail Centers | 10 | 3.2% | $5.7M | |
| 10 | Snack and Nonalcoholic Beverage Bars | 9 | 2.9% | $4.8M |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 10 | 3.2% | $5.7M | |
| 2 | American Family Care | 5 | 1.6% | $6.6M | |
| 3 | Mr. Handyman | 4 | 1.3% | $1.3M | |
| 4 | Sleep Inn | 3 | 1.0% | $7.3M | |
| 5 | Hotworx | 3 | 1.0% | $2.1M | |
| 6 | Cold Stone Creamery | 3 | 1.0% | $1.2M | |
| 7 | La Quinta | 2 | 0.6% | $8.5M | |
| 8 | Quality Inn | 2 | 0.6% | $7.8M | |
| 9 | Big O Tires | 2 | 0.6% | $5.3M | |
| 10 | Classic Star Group (Distributor) | 2 | 0.6% | $2.3M |
Questions buyers ask
Does Citizens Bank make SBA acquisition loans?
Yes. Citizens Bank approved 312 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 27 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 Citizens Bank's acquisition loans?
The median was $510,100, with the middle half between $349,975 and $996,500. The national median is $645,250, so this lender's typical loan is 21% lower than the national figure.
Which states does Citizens Bank lend in?
Texas (36), Florida (33), North Carolina (27), Georgia (25), California (23), Wisconsin (20). Its loans span at least 15 states.
Which industries does Citizens Bank finance?
Gasoline Stations with Convenience Stores (34), Offices of Chiropractors (31), Full-Service Restaurants (16), Hotels (except Casino Hotels) and Motels (15), Beer, Wine, and Liquor Retailers (13). The top industry is 11% of its acquisition loans.
How have Citizens Bank's acquisition loans performed?
Of 153 loans approved FY2018 to FY2021: 5.2% charged off, 49% 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
- Texas acquisitions
- Florida acquisitions
- North Carolina acquisitions
- Gasoline Stations with Convenience Stores
- Offices of Chiropractors
- Full-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Citizens Bank.