Customers Bank: SBA business acquisition lending record
Customers Bank (home state PA) approved 312 SBA 7(a) loans to buy existing businesses since FY2018, totaling $314M. The median loan was $696,000. It ranks number 28 of 280 lenders by count and made 0.6% 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 $291,000 and $1,377,750. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Florida is the largest state (21% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Full-Service Restaurants is 5% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 626 SBA 7(a) loans of any purpose since FY2020, totaling $566M. 68% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 18% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 5.0% charged off, 42% higher than the 3.5% national average.
Customers Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 32 | $31.9M | $789,900 | |
| FY2019 | 29 | $33.1M | $713,000 | |
| FY2020 | 30 | $20.5M | $537,000 | |
| FY2021 | 29 | $42.9M | $940,000 | |
| FY2022 | 33 | $41.2M | $966,500 | |
| FY2023 | 69 | $54.2M | $583,000 | |
| FY2024 | 51 | $58.7M | $706,000 | |
| FY2025 | 17 | $18M | $574,500 | |
| FY2026 | 22 | $14.1M | $325,000 |
How often do these acquisition loans fail?
Of the 120 Customers Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 6 have been charged off by the SBA, a rate of 5.0% by loan count and 2.2% by dollars. 69 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 Customers Bank is 42% 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.
The purchase agreement decides what you bought, not the loan approval.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 66 | 21.2% | $67M | |
| 2 | Pennsylvania | 39 | 12.5% | $33.9M | |
| 3 | California | 29 | 9.3% | $31.7M | |
| 4 | Texas | 22 | 7.1% | $16.6M | |
| 5 | Massachusetts | 20 | 6.4% | $19.9M | |
| 6 | New Jersey | 16 | 5.1% | $11.8M | |
| 7 | North Carolina | 12 | 3.8% | $23.9M | |
| 8 | New Hampshire | 12 | 3.8% | $15M | |
| 9 | Colorado | 10 | 3.2% | $11.8M | |
| 10 | Nevada | 7 | 2.2% | $5.7M | |
| 11 | Illinois | 7 | 2.2% | $5.4M | |
| 12 | Indiana | 7 | 2.2% | $4.1M | |
| 13 | Virginia | 6 | 1.9% | $8.7M | |
| 14 | South Carolina | 6 | 1.9% | $3.3M | |
| 15 | Georgia | 5 | 1.6% | $10M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 17 | 5.4% | $17.5M | |
| 2 | Beauty Salons | 16 | 5.1% | $6.8M | |
| 3 | Landscaping Services | 13 | 4.2% | $12.2M | |
| 4 | Child Care Services | 11 | 3.5% | $22.5M | |
| 5 | Beer, Wine, and Liquor Retailers | 11 | 3.5% | $10.6M | |
| 6 | Janitorial Services | 10 | 3.2% | $5.9M | |
| 7 | Offices of Certified Public Accountants | 10 | 3.2% | $5.2M | |
| 8 | Other Services to Buildings and Dwellings | 9 | 2.9% | $5.2M | |
| 9 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | 2.6% | $6.2M | |
| 10 | Offices of Dentists | 7 | 2.2% | $6.5M |
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 | LORDS & LADIES | 14 | 4.5% | $4.3M | |
| 2 | Merry Maids | 9 | 2.9% | $5.4M | |
| 3 | The Goddard School | 4 | 1.3% | $8.9M | |
| 4 | Budget Blinds | 4 | 1.3% | $3.6M | |
| 5 | Massage Envy | 4 | 1.3% | $3.1M | |
| 6 | Primrose Schools | 2 | 0.6% | $10M | |
| 7 | Monster Tree Service | 2 | 0.6% | $1.5M | |
| 8 | Do it Best | 2 | 0.6% | $733K | |
| 9 | CertaPro Painters | 2 | 0.6% | $499K | |
| 10 | Quality Inn | 1 | 0.3% | $4.7M |
Questions buyers ask
Does Customers Bank make SBA acquisition loans?
Yes. Customers Bank approved 312 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 28 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 Customers Bank's acquisition loans?
The median was $696,000, with the middle half between $291,000 and $1,377,750. The national median is $645,250, so this lender's typical loan is 8% higher than the national figure.
Which states does Customers Bank lend in?
Florida (66), Pennsylvania (39), California (29), Texas (22), Massachusetts (20), New Jersey (16). Its loans span at least 15 states.
Which industries does Customers Bank finance?
Full-Service Restaurants (17), Beauty Salons (16), Landscaping Services (13), Child Care Services (11), Beer, Wine, and Liquor Retailers (11). The top industry is 5% of its acquisition loans.
How have Customers Bank's acquisition loans performed?
Of 120 loans approved FY2018 to FY2021: 5.0% charged off, 42% 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
- Florida acquisitions
- Pennsylvania acquisitions
- California acquisitions
- Full-Service Restaurants
- Beauty Salons
- Landscaping Services
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Customers Bank.