First Community Bank: SBA business acquisition lending record
First Community Bank (home state SC) approved 28 SBA 7(a) loans to buy existing businesses since FY2018, totaling $27.3M. The median loan was $574,500. It ranks number 261 of 280 lenders by count and made 0.1% 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 $361,375 and $1,125,750. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Georgia is the largest state (61% of loans). Loans appear in only 7 states, which points to a regional lender.
- Industry concentration. Gasoline Stations with Convenience Stores is 14% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 440 SBA 7(a) loans of any purpose since FY2020, totaling $303M. 79% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 43% 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 Community Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $373K | $372,500 | |
| FY2019 | 2 | $1.5M | $756,000 | |
| FY2020 | 2 | $1.2M | $591,500 | |
| FY2021 | 3 | $2.1M | $480,500 | |
| FY2022 | 1 | $250K | $250,000 | |
| FY2023 | 5 | $6.4M | $735,800 | |
| FY2024 | 4 | $6.4M | $622,500 | |
| FY2025 | 2 | $974K | $486,850 | |
| FY2026 | 8 | $8.2M | $607,800 |
How often do these acquisition loans fail?
Fewer than 20 First Community Bank 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.
Seller note standby terms and third-party consents are reviewed before closing.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Georgia | 17 | 60.7% | $17.7M | |
| 2 | North Carolina | 4 | 14.3% | $1.7M | |
| 3 | Virginia | 3 | 10.7% | $1.3M | |
| 4 | Alabama | 1 | 3.6% | $5M | |
| 5 | South Carolina | 1 | 3.6% | $1.2M | |
| 6 | West Virginia | 1 | 3.6% | $225K | |
| 7 | Texas | 1 | 3.6% | $186K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 4 | 14.3% | $2.4M | |
| 2 | Limited-Service Restaurants | 3 | 10.7% | $2.4M | |
| 3 | Hotels (except Casino Hotels) and Motels | 2 | 7.1% | $6.5M | |
| 4 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 2 | 7.1% | $3.7M | |
| 5 | Ornamental and Architectural Metal Work Manufacturing | 2 | 7.1% | $781K | |
| 6 | Sheet Metal Work Manufacturing | 1 | 3.6% | $3.8M | |
| 7 | Hardware Retailers | 1 | 3.6% | $1.4M | |
| 8 | Pet Care (except Veterinary) Services | 1 | 3.6% | $1.2M | |
| 9 | Beer, Wine, and Liquor Retailers | 1 | 3.6% | $650K |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Best Western | 1 | 3.6% | $5M | |
| 2 | Travelodge | 1 | 3.6% | $1.5M | |
| 3 | Ace Hardware | 1 | 3.6% | $1.4M | |
| 4 | Dairy Queen | 1 | 3.6% | $1.4M | |
| 5 | The UPS Store | 1 | 3.6% | $481K | |
| 6 | Smoothie King | 1 | 3.6% | $250K | |
| 7 | Subway | 1 | 3.6% | $200K |
Questions buyers ask
Does First Community Bank make SBA acquisition loans?
Yes. First Community Bank approved 28 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 261 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 Community Bank's acquisition loans?
The median was $574,500, with the middle half between $361,375 and $1,125,750. The national median is $645,250, so this lender's typical loan is 11% lower than the national figure.
Which states does First Community Bank lend in?
Georgia (17), North Carolina (4), Virginia (3), Alabama (1), South Carolina (1), West Virginia (1). Its loans appear in 7 states, so it is closer to a regional lender.
Which industries does First Community Bank finance?
Gasoline Stations with Convenience Stores (4), Limited-Service Restaurants (3), Hotels (except Casino Hotels) and Motels (2), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (2), Ornamental and Architectural Metal Work Manufacturing (2). The top industry is 14% of its acquisition loans.
How have First Community Bank'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.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Georgia acquisitions
- North Carolina acquisitions
- Virginia acquisitions
- Gasoline Stations with Convenience Stores
- Limited-Service Restaurants
- Hotels (except Casino Hotels) and Motels
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Community Bank.