Firstrust Savings Bank: SBA business acquisition lending record
Firstrust Savings Bank (home state PA) approved 49 SBA 7(a) loans to buy existing businesses since FY2018, totaling $67.6M. The median loan was $1,020,000. It ranks number 180 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 $500,000 and $1,749,300. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Pennsylvania is the largest state (33% of loans). Loans appear in only 10 states, which points to a regional lender.
- Industry concentration. Veterinary Services is 8% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 306 SBA 7(a) loans of any purpose since FY2020, totaling $370M. 86% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 6% 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.
Firstrust Savings Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $2.6M | $1,170,000 | |
| FY2019 | 2 | $1.4M | $697,800 | |
| FY2020 | 3 | $6.6M | $2,266,700 | |
| FY2021 | 5 | $8.7M | $1,749,300 | |
| FY2022 | 7 | $7.1M | $953,600 | |
| FY2023 | 6 | $9.9M | $365,000 | |
| FY2024 | 9 | $12M | $1,250,000 | |
| FY2025 | 3 | $8.5M | $2,760,000 | |
| FY2026 | 11 | $10.9M | $855,000 |
How often do these acquisition loans fail?
Fewer than 20 Firstrust Savings 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 | Pennsylvania | 16 | 32.7% | $20.6M | |
| 2 | New Jersey | 12 | 24.5% | $16.4M | |
| 3 | Maryland | 8 | 16.3% | $8.2M | |
| 4 | New York | 5 | 10.2% | $9.8M | |
| 5 | Virginia | 2 | 4.1% | $1.1M | |
| 6 | Tennessee | 2 | 4.1% | $905K | |
| 7 | District of Columbia | 1 | 2.0% | $5M | |
| 8 | Washington | 1 | 2.0% | $3.1M | |
| 9 | New Mexico | 1 | 2.0% | $1.7M | |
| 10 | California | 1 | 2.0% | $832K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Veterinary Services | 4 | 8.2% | $7.1M | |
| 2 | Beer, Wine, and Liquor Retailers | 4 | 8.2% | $5.8M | |
| 3 | Funeral Homes and Funeral Services | 3 | 6.1% | $2.9M | |
| 4 | Offices of Certified Public Accountants | 3 | 6.1% | $2M | |
| 5 | Other Miscellaneous Durable Goods Merchant Wholesalers | 2 | 4.1% | $4.7M | |
| 6 | All Other Specialty Trade Contractors | 2 | 4.1% | $1.6M | |
| 7 | Landscaping Services | 2 | 4.1% | $1.4M | |
| 8 | Interior Design Services | 2 | 4.1% | $606K | |
| 9 | Commercial and Institutional Building Construction | 1 | 2.0% | $5M |
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsFree consultation. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Arco (BP) | 1 | 2.0% | $500K | |
| 2 | Hand and Stone Massage and Facial Spa | 1 | 2.0% | $380K |
Questions buyers ask
Does Firstrust Savings Bank make SBA acquisition loans?
Yes. Firstrust Savings Bank approved 49 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 180 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 Firstrust Savings Bank's acquisition loans?
The median was $1,020,000, with the middle half between $500,000 and $1,749,300. The national median is $645,250, so this lender's typical loan is 58% higher than the national figure.
Which states does Firstrust Savings Bank lend in?
Pennsylvania (16), New Jersey (12), Maryland (8), New York (5), Virginia (2), Tennessee (2). Its loans appear in 10 states, so it is closer to a regional lender.
Which industries does Firstrust Savings Bank finance?
Veterinary Services (4), Beer, Wine, and Liquor Retailers (4), Funeral Homes and Funeral Services (3), Offices of Certified Public Accountants (3), Other Miscellaneous Durable Goods Merchant Wholesalers (2). The top industry is 8% of its acquisition loans.
How have Firstrust Savings 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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Pennsylvania acquisitions
- New Jersey acquisitions
- Maryland acquisitions
- Veterinary Services
- Beer, Wine, and Liquor Retailers
- Funeral Homes and Funeral Services
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Firstrust Savings Bank.