Cogent Bank: SBA business acquisition lending record
Cogent Bank (home state FL) approved 35 SBA 7(a) loans to buy existing businesses since FY2018, totaling $40.5M. The median loan was $708,000. It ranks number 220 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $449,350 and $1,290,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Florida is the largest state (60% of loans). Loans appear in only 8 states, which points to a regional 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. 182 SBA 7(a) loans of any purpose since FY2020, totaling $203M. 69% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 17% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Too few of its loans are old enough to measure a charge-off rate.
Cogent Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $913K | $912,600 | |
| FY2021 | 4 | $4.9M | $774,500 | |
| FY2022 | 11 | $10.5M | $448,700 | |
| FY2023 | 2 | $4.2M | $2,097,500 | |
| FY2024 | 8 | $4.3M | $507,650 | |
| FY2025 | 7 | $12.6M | $1,486,000 | |
| FY2026 | 2 | $3M | $1,508,000 |
How often do these acquisition loans fail?
Fewer than 20 Cogent Bank acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 21 | 60.0% | $24.2M | |
| 2 | Georgia | 7 | 20.0% | $4.8M | |
| 3 | Tennessee | 2 | 5.7% | $1.6M | |
| 4 | Texas | 1 | 2.9% | $5M | |
| 5 | North Carolina | 1 | 2.9% | $3M | |
| 6 | U.S. Virgin Islands | 1 | 2.9% | $717K | |
| 7 | Virginia | 1 | 2.9% | $655K | |
| 8 | Alabama | 1 | 2.9% | $640K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 4 | 11.4% | $2.5M | |
| 2 | Full-Service Restaurants | 3 | 8.6% | $2.9M | |
| 3 | Plumbing, Heating, and Air-Conditioning Contractors | 2 | 5.7% | $3.8M | |
| 4 | Machine Shops | 2 | 5.7% | $3.3M | |
| 5 | Offices of Dentists | 2 | 5.7% | $1.7M | |
| 6 | Landscaping Services | 2 | 5.7% | $1.1M | |
| 7 | Other Personal and Household Goods Repair and Maintenance | 2 | 5.7% | $705K | |
| 8 | All Other Specialty Food Retailers | 2 | 5.7% | $480K | |
| 9 | Hotels (except Casino Hotels) and Motels | 1 | 2.9% | $5M | |
| 10 | Offices of Physicians (except Mental Health Specialists) | 1 | 2.9% | $3.7M |
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 | Smoothie King | 2 | 5.7% | $480K | |
| 2 | Comfort Inn | 1 | 2.9% | $5M |
Questions buyers ask
Does Cogent Bank make SBA acquisition loans?
Yes. Cogent Bank approved 35 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 220 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 Cogent Bank's acquisition loans?
The median was $708,000, with the middle half between $449,350 and $1,290,000. The national median is $645,250, so this lender's typical loan is 10% higher than the national figure.
Which states does Cogent Bank lend in?
Florida (21), Georgia (7), Tennessee (2), Texas (1), North Carolina (1), U.S. Virgin Islands (1). Its loans appear in 8 states, so it is closer to a regional lender.
Which industries does Cogent Bank finance?
Gasoline Stations with Convenience Stores (4), Full-Service Restaurants (3), Plumbing, Heating, and Air-Conditioning Contractors (2), Machine Shops (2), Offices of Dentists (2). The top industry is 11% of its acquisition loans.
How have Cogent Bank's acquisition loans performed?
Fewer than 20 of this lender's loans are old enough to measure. The national benchmark is 3.5% for the FY2018 to FY2021 cohort.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- Florida acquisitions
- Georgia acquisitions
- Tennessee acquisitions
- Gasoline Stations with Convenience Stores
- Full-Service Restaurants
- Plumbing, Heating, and Air-Conditioning Contractors
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Cogent Bank.