First Utah Bank: SBA business acquisition lending record
First Utah Bank (home state UT) approved 33 SBA 7(a) loans to buy existing businesses since FY2018, totaling $66.5M. The median loan was $1,604,400. It ranks number 234 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 $676,000 and $3,927,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Utah is the largest state (70% of loans). Loans appear in only 9 states, which points to a regional lender.
- Industry concentration. Hotels (except Casino Hotels) and Motels is 12% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 130 SBA 7(a) loans of any purpose since FY2020, totaling $180M. 94% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 21% 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 Utah Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $1.2M | $614,050 | |
| FY2019 | 7 | $11.6M | $676,000 | |
| FY2020 | 2 | $4.2M | $2,075,000 | |
| FY2021 | 3 | $5.3M | $1,650,000 | |
| FY2022 | 1 | $840K | $840,000 | |
| FY2023 | 2 | $2.3M | $1,134,150 | |
| FY2024 | 4 | $8.9M | $1,722,600 | |
| FY2025 | 6 | $16.2M | $3,143,500 | |
| FY2026 | 6 | $16M | $2,869,000 |
How often do these acquisition loans fail?
Fewer than 20 First Utah 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.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Utah | 23 | 69.7% | $40.9M | |
| 2 | Michigan | 2 | 6.1% | $9.8M | |
| 3 | Georgia | 2 | 6.1% | $8.4M | |
| 4 | Washington | 1 | 3.0% | $2.4M | |
| 5 | Arizona | 1 | 3.0% | $2.4M | |
| 6 | Idaho | 1 | 3.0% | $1.1M | |
| 7 | California | 1 | 3.0% | $564K | |
| 8 | Florida | 1 | 3.0% | $500K | |
| 9 | Kansas | 1 | 3.0% | $499K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 4 | 12.1% | $18.2M | |
| 2 | Freight Transportation Arrangement | 2 | 6.1% | $5.2M | |
| 3 | Commercial Screen Printing | 2 | 6.1% | $3.9M | |
| 4 | Meat and Meat Product Merchant Wholesalers | 2 | 6.1% | $3.5M | |
| 5 | General Automotive Repair | 2 | 6.1% | $3.4M | |
| 6 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 2 | 6.1% | $3.4M | |
| 7 | Snack and Nonalcoholic Beverage Bars | 2 | 6.1% | $886K | |
| 8 | Other Technical and Trade Schools | 1 | 3.0% | $5M | |
| 9 | Child Care Services | 1 | 3.0% | $4.2M |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Sleep Inn | 2 | 6.1% | $8.4M | |
| 2 | Red Roof Inn | 1 | 3.0% | $5M | |
| 3 | Quality Inn | 1 | 3.0% | $4.8M | |
| 4 | Kiddie Academy | 1 | 3.0% | $4.2M | |
| 5 | Burn Boot Camp Fitness | 1 | 3.0% | $912K | |
| 6 | AlphaGraphics | 1 | 3.0% | $450K |
Questions buyers ask
Does First Utah Bank make SBA acquisition loans?
Yes. First Utah Bank approved 33 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 234 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 Utah Bank's acquisition loans?
The median was $1,604,400, with the middle half between $676,000 and $3,927,000. The national median is $645,250, so this lender's typical loan is 149% higher than the national figure.
Which states does First Utah Bank lend in?
Utah (23), Michigan (2), Georgia (2), Washington (1), Arizona (1), Idaho (1). Its loans appear in 9 states, so it is closer to a regional lender.
Which industries does First Utah Bank finance?
Hotels (except Casino Hotels) and Motels (4), Freight Transportation Arrangement (2), Commercial Screen Printing (2), Meat and Meat Product Merchant Wholesalers (2), General Automotive Repair (2). The top industry is 12% of its acquisition loans.
How have First Utah 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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- Utah acquisitions
- Michigan acquisitions
- Georgia acquisitions
- Hotels (except Casino Hotels) and Motels
- Freight Transportation Arrangement
- Commercial Screen Printing
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Utah Bank.