First Commonwealth Bank: SBA business acquisition lending record
First Commonwealth Bank (home state PA) approved 190 SBA 7(a) loans to buy existing businesses since FY2018, totaling $158M. The median loan was $509,000. It ranks number 49 of 280 lenders by count and made 0.4% of all SBA acquisition loans nationally.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $200,000 and $1,085,550. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Pennsylvania is the largest state (49% of loans). Loans appear in only 8 states, which points to a regional lender.
- Industry concentration. General Automotive Repair is 5% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 1,004 SBA 7(a) loans of any purpose since FY2020, totaling $703M. 68% 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. Of its loans from FY2018 to FY2021: 2.0% charged off, 44% lower than the 3.5% national average.
First Commonwealth Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 15 | $16.6M | $830,000 | |
| FY2019 | 28 | $16.6M | $235,000 | |
| FY2020 | 27 | $18M | $362,000 | |
| FY2021 | 32 | $19.2M | $350,000 | |
| FY2022 | 15 | $15.9M | $925,500 | |
| FY2023 | 18 | $18.1M | $484,000 | |
| FY2024 | 16 | $20.8M | $970,000 | |
| FY2025 | 22 | $18.6M | $608,500 | |
| FY2026 | 17 | $14.7M | $801,000 |
How often do these acquisition loans fail?
Of the 101 First Commonwealth Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 2 have been charged off by the SBA, a rate of 2.0% by loan count and 0.6% by dollars. 59 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 Commonwealth Bank is 44% 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.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Pennsylvania | 93 | 48.9% | $72.1M | |
| 2 | Ohio | 66 | 34.7% | $58.5M | |
| 3 | Texas | 17 | 8.9% | $18M | |
| 4 | Florida | 9 | 4.7% | $3.9M | |
| 5 | South Carolina | 2 | 1.1% | $1.6M | |
| 6 | New York | 1 | 0.5% | $3.6M | |
| 7 | South Dakota | 1 | 0.5% | $545K | |
| 8 | Kentucky | 1 | 0.5% | $320K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | General Automotive Repair | 9 | 4.7% | $5.3M | |
| 2 | Limited-Service Restaurants | 7 | 3.7% | $2.1M | |
| 3 | Plumbing, Heating, and Air-Conditioning Contractors | 6 | 3.2% | $5.5M | |
| 4 | Home Health Care Services | 6 | 3.2% | $5.2M | |
| 5 | Automotive Body, Paint, and Interior Repair and Maintenance | 5 | 2.6% | $6.9M | |
| 6 | Full-Service Restaurants | 5 | 2.6% | $3.3M | |
| 7 | Offices of Dentists | 5 | 2.6% | $2.9M | |
| 8 | Beer, Wine, and Liquor Retailers | 5 | 2.6% | $2.6M | |
| 9 | Offices of Chiropractors | 5 | 2.6% | $1.5M | |
| 10 | Other Personal Care Services | 4 | 2.1% | $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 | Home Instead | 5 | 2.6% | $3.6M | |
| 2 | Carstar | 3 | 1.6% | $991K | |
| 3 | European Wax Center | 2 | 1.1% | $3.8M | |
| 4 | Edible Arrangements | 2 | 1.1% | $759K | |
| 5 | Subway | 2 | 1.1% | $657K | |
| 6 | Lawn Doctor | 2 | 1.1% | $397K | |
| 7 | FASTSIGNS | 2 | 1.1% | $73K | |
| 8 | Visiting Angels | 1 | 0.5% | $1.6M | |
| 9 | Ace Hardware | 1 | 0.5% | $880K | |
| 10 | AAMCO Transmissions and Total Car Care | 1 | 0.5% | $533K |
Questions buyers ask
Does First Commonwealth Bank make SBA acquisition loans?
Yes. First Commonwealth Bank approved 190 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 49 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 Commonwealth Bank's acquisition loans?
The median was $509,000, with the middle half between $200,000 and $1,085,550. The national median is $645,250, so this lender's typical loan is 21% lower than the national figure.
Which states does First Commonwealth Bank lend in?
Pennsylvania (93), Ohio (66), Texas (17), Florida (9), South Carolina (2), New York (1). Its loans appear in 8 states, so it is closer to a regional lender.
Which industries does First Commonwealth Bank finance?
General Automotive Repair (9), Limited-Service Restaurants (7), Plumbing, Heating, and Air-Conditioning Contractors (6), Home Health Care Services (6), Automotive Body, Paint, and Interior Repair and Maintenance (5). The top industry is 5% of its acquisition loans.
How have First Commonwealth Bank's acquisition loans performed?
Of 101 loans approved FY2018 to FY2021: 2.0% charged off, 44% lower than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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
- Pennsylvania acquisitions
- Ohio acquisitions
- Texas acquisitions
- General Automotive Repair
- Limited-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 First Commonwealth Bank.