First Business Bank: SBA business acquisition lending record
First Business Bank (home state WI) approved 91 SBA 7(a) loans to buy existing businesses since FY2018, totaling $123M. The median loan was $950,000. It ranks number 108 of 280 lenders by count and made 0.2% of all SBA acquisition loans nationally.
The purchase agreement decides what you bought, not the loan approval.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $507,500 and $1,719,050. 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. Electronic Shopping and Mail-Order Houses is 7% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 245 SBA 7(a) loans of any purpose since FY2020, totaling $284M. 86% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 16% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 2.6% charged off, 25% lower than the 3.5% national average.
First Business Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $7.1M | $1,146,000 | |
| FY2019 | 6 | $9M | $1,350,250 | |
| FY2020 | 17 | $18.9M | $693,000 | |
| FY2021 | 10 | $16M | $1,793,000 | |
| FY2022 | 12 | $18M | $1,473,500 | |
| FY2023 | 8 | $12.2M | $776,000 | |
| FY2024 | 12 | $9.1M | $499,500 | |
| FY2025 | 14 | $15.8M | $967,500 | |
| FY2026 | 7 | $16.6M | $2,448,000 |
How often do these acquisition loans fail?
Of the 38 First Business Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 1 have been charged off by the SBA, a rate of 2.6% by loan count and 0.7% by dollars. 24 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 First Business Bank is 25% lower 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.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 18 | 19.8% | $21.9M | |
| 2 | Wisconsin | 15 | 16.5% | $15.9M | |
| 3 | Texas | 10 | 11.0% | $10.8M | |
| 4 | Florida | 8 | 8.8% | $6.7M | |
| 5 | Virginia | 5 | 5.5% | $7M | |
| 6 | North Carolina | 4 | 4.4% | $7.6M | |
| 7 | Washington | 3 | 3.3% | $11.6M | |
| 8 | Missouri | 3 | 3.3% | $4.2M | |
| 9 | Oregon | 3 | 3.3% | $3.7M | |
| 10 | Ohio | 3 | 3.3% | $2.7M | |
| 11 | South Carolina | 3 | 3.3% | $1.3M | |
| 12 | Pennsylvania | 2 | 2.2% | $5.3M | |
| 13 | Illinois | 2 | 2.2% | $3.6M | |
| 14 | Georgia | 1 | 1.1% | $4M | |
| 15 | Nevada | 1 | 1.1% | $3.7M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Electronic Shopping and Mail-Order Houses | 6 | 6.6% | $8.3M | |
| 2 | Pet and Pet Supplies Retailers | 5 | 5.5% | $2.1M | |
| 3 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | 3.3% | $9.4M | |
| 4 | General Automotive Repair | 3 | 3.3% | $5.2M | |
| 5 | Beer, Wine, and Liquor Retailers | 3 | 3.3% | $3.8M | |
| 6 | Assisted Living Facilities for the Elderly | 3 | 3.3% | $3.4M | |
| 7 | Couriers and Express Delivery Services | 3 | 3.3% | $2.1M | |
| 8 | Full-Service Restaurants | 2 | 2.2% | $5.3M | |
| 9 | Site Preparation Contractors | 2 | 2.2% | $3.6M | |
| 10 | Other Computer Related Services | 2 | 2.2% | $3.1M |
Seller note standby terms and third-party consents are reviewed before closing.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Wild Birds Unlimited | 5 | 5.5% | $2.1M | |
| 2 | Anytime Fitness | 2 | 2.2% | $880K | |
| 3 | Woodcraft | 1 | 1.1% | $1.4M | |
| 4 | Minuteman Press | 1 | 1.1% | $1.4M | |
| 5 | Sky Zone | 1 | 1.1% | $1.3M | |
| 6 | CRDN | 1 | 1.1% | $885K | |
| 7 | Servpro | 1 | 1.1% | $580K | |
| 8 | ServiceMaster | 1 | 1.1% | $470K | |
| 9 | Duck Donuts | 1 | 1.1% | $425K |
Questions buyers ask
Does First Business Bank make SBA acquisition loans?
Yes. First Business Bank approved 91 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 108 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 Business Bank's acquisition loans?
The median was $950,000, with the middle half between $507,500 and $1,719,050. The national median is $645,250, so this lender's typical loan is 47% higher than the national figure.
Which states does First Business Bank lend in?
California (18), Wisconsin (15), Texas (10), Florida (8), Virginia (5), North Carolina (4). Its loans span at least 15 states.
Which industries does First Business Bank finance?
Electronic Shopping and Mail-Order Houses (6), Pet and Pet Supplies Retailers (5), Plumbing, Heating, and Air-Conditioning Contractors (3), General Automotive Repair (3), Beer, Wine, and Liquor Retailers (3). The top industry is 7% of its acquisition loans.
How have First Business Bank's acquisition loans performed?
Of 38 loans approved FY2018 to FY2021: 2.6% charged off, 25% lower than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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
- California acquisitions
- Wisconsin acquisitions
- Texas acquisitions
- Electronic Shopping and Mail-Order Houses
- Pet and Pet Supplies Retailers
- Plumbing, Heating, and Air-Conditioning Contractors
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Business Bank.