First Bank of Central Ohio: SBA business acquisition lending record
First Bank of Central Ohio (home state OH) approved 44 SBA 7(a) loans to buy existing businesses since FY2018, totaling $68.9M. The median loan was $965,750. It ranks number 190 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $637,250 and $1,830,950. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. California is the largest state (20% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Insurance Agencies and Brokerages is 9% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 96 SBA 7(a) loans of any purpose since FY2020, totaling $135M. 70% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 2% 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.
First Bank of Central Ohio acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $1.4M | $1,416,700 | |
| FY2024 | 18 | $29.3M | $963,450 | |
| FY2025 | 20 | $31.5M | $996,250 | |
| FY2026 | 5 | $6.6M | $814,000 |
How often do these acquisition loans fail?
Fewer than 20 First Bank of Central Ohio 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 | California | 9 | 20.5% | $10.4M | |
| 2 | Indiana | 5 | 11.4% | $11.3M | |
| 3 | Colorado | 5 | 11.4% | $11.2M | |
| 4 | Florida | 3 | 6.8% | $7.3M | |
| 5 | Oregon | 3 | 6.8% | $4.8M | |
| 6 | North Carolina | 3 | 6.8% | $2.9M | |
| 7 | South Carolina | 2 | 4.5% | $2.7M | |
| 8 | Massachusetts | 2 | 4.5% | $1.9M | |
| 9 | New York | 2 | 4.5% | $1.7M | |
| 10 | Virginia | 2 | 4.5% | $828K | |
| 11 | Michigan | 1 | 2.3% | $3.5M | |
| 12 | Wisconsin | 1 | 2.3% | $3.4M | |
| 13 | Utah | 1 | 2.3% | $2.9M | |
| 14 | Alabama | 1 | 2.3% | $1.1M | |
| 15 | Arizona | 1 | 2.3% | $894K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Insurance Agencies and Brokerages | 4 | 9.1% | $4M | |
| 2 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | 6.8% | $6.9M | |
| 3 | Couriers and Express Delivery Services | 3 | 6.8% | $3.1M | |
| 4 | Remediation Services | 2 | 4.5% | $1.9M | |
| 5 | New Single-Family Housing Construction (except For-Sale Builders) | 2 | 4.5% | $1.5M | |
| 6 | Offices of Dentists | 2 | 4.5% | $1.4M | |
| 7 | All Other Amusement and Recreation Industries | 2 | 4.5% | $1.4M | |
| 8 | Child Care Services | 1 | 2.3% | $3.8M |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Farmers Insurance | 1 | 2.3% | $1.3M |
Questions buyers ask
Does First Bank of Central Ohio make SBA acquisition loans?
Yes. First Bank of Central Ohio approved 44 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 190 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 First Bank of Central Ohio's acquisition loans?
The median was $965,750, with the middle half between $637,250 and $1,830,950. The national median is $645,250, so this lender's typical loan is 50% higher than the national figure.
Which states does First Bank of Central Ohio lend in?
California (9), Indiana (5), Colorado (5), Florida (3), Oregon (3), North Carolina (3). Its loans span at least 15 states.
Which industries does First Bank of Central Ohio finance?
Insurance Agencies and Brokerages (4), Plumbing, Heating, and Air-Conditioning Contractors (3), Couriers and Express Delivery Services (3), Remediation Services (2), New Single-Family Housing Construction (except For-Sale Builders) (2). The top industry is 9% of its acquisition loans.
How have First Bank of Central Ohio'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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- California acquisitions
- Indiana acquisitions
- Colorado acquisitions
- Insurance Agencies and Brokerages
- Plumbing, Heating, and Air-Conditioning Contractors
- Couriers and Express Delivery Services
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Bank of Central Ohio.