Everwise Credit Union: SBA business acquisition lending record
Everwise Credit Union (home state IN) approved 26 SBA 7(a) loans to buy existing businesses since FY2018, totaling $73M. The median loan was $2,754,000. It ranks number 272 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 $1,496,250 and $4,812,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Indiana is the largest state (27% of loans). Loans appear in only 13 states, which points to a regional lender.
- Industry concentration. Hotels (except Casino Hotels) and Motels is 50% of its acquisition loans. This is a specialist pattern.
- Overall 7(a) volume. 103 SBA 7(a) loans of any purpose since FY2020, totaling $210M. 69% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 50% 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.
Everwise Credit Union acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $6.4M | $3,222,500 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $330K | $330,000 | |
| FY2021 | 3 | $4.9M | $1,660,500 | |
| FY2022 | 5 | $14.7M | $2,788,000 | |
| FY2023 | 5 | $5.8M | $1,340,000 | |
| FY2024 | 4 | $12M | $3,000,000 | |
| FY2025 | 5 | $23.8M | $5,000,000 | |
| FY2026 | 1 | $5M | $5,000,000 |
How often do these acquisition loans fail?
Fewer than 20 Everwise Credit Union 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.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Indiana | 7 | 26.9% | $13.7M | |
| 2 | Illinois | 4 | 15.4% | $10.2M | |
| 3 | Michigan | 3 | 11.5% | $5.7M | |
| 4 | Virginia | 2 | 7.7% | $10M | |
| 5 | Wisconsin | 2 | 7.7% | $6.9M | |
| 6 | Kentucky | 1 | 3.8% | $5M | |
| 7 | North Dakota | 1 | 3.8% | $5M | |
| 8 | South Dakota | 1 | 3.8% | $3.8M | |
| 9 | Delaware | 1 | 3.8% | $3.3M | |
| 10 | Missouri | 1 | 3.8% | $3.2M | |
| 11 | Louisiana | 1 | 3.8% | $2.8M | |
| 12 | Oklahoma | 1 | 3.8% | $1.8M | |
| 13 | Iowa | 1 | 3.8% | $1.7M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 13 | 50.0% | $47.3M | |
| 2 | Home Health Care Services | 2 | 7.7% | $5M | |
| 3 | Beer, Wine, and Liquor Retailers | 2 | 7.7% | $1.3M | |
| 4 | Automobile and Other Motor Vehicle Merchant Wholesalers | 1 | 3.8% | $5M | |
| 5 | All Other Plastics Product Manufacturing | 1 | 3.8% | $4.3M | |
| 6 | Full-Service Restaurants | 1 | 3.8% | $1.9M | |
| 7 | Other Commercial and Industrial Machinery and Equipment Rental and Leasing | 1 | 3.8% | $1.7M | |
| 8 | Nursery, Garden Center, and Farm Supply Retailers | 1 | 3.8% | $1.3M |
That draft favors the seller. We review it for the buyer, line by line.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Candlewood Suites | 2 | 7.7% | $10M | |
| 2 | Days Inn | 2 | 7.7% | $6M | |
| 3 | Quality Inn | 2 | 7.7% | $3.1M | |
| 4 | Comfort Suites | 1 | 3.8% | $5M | |
| 5 | HomeTowne Studios by Red Roof | 1 | 3.8% | $5M | |
| 6 | Best Western | 1 | 3.8% | $3.8M | |
| 7 | La Quinta | 1 | 3.8% | $2.8M | |
| 8 | Travelodge | 1 | 3.8% | $1.7M |
Questions buyers ask
Does Everwise Credit Union make SBA acquisition loans?
Yes. Everwise Credit Union approved 26 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 272 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 Everwise Credit Union's acquisition loans?
The median was $2,754,000, with the middle half between $1,496,250 and $4,812,500. The national median is $645,250, so this lender's typical loan is 327% higher than the national figure.
Which states does Everwise Credit Union lend in?
Indiana (7), Illinois (4), Michigan (3), Virginia (2), Wisconsin (2), Kentucky (1). Its loans appear in 13 states, so it is closer to a regional lender.
Which industries does Everwise Credit Union finance?
Hotels (except Casino Hotels) and Motels (13), Home Health Care Services (2), Beer, Wine, and Liquor Retailers (2), Automobile and Other Motor Vehicle Merchant Wholesalers (1), All Other Plastics Product Manufacturing (1). The top industry is 50% of its acquisition loans.
How have Everwise Credit Union'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.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Indiana acquisitions
- Illinois acquisitions
- Michigan acquisitions
- Hotels (except Casino Hotels) and Motels
- Home Health Care Services
- Beer, Wine, and Liquor Retailers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Everwise Credit Union.