Fulton Bank, National Association: SBA business acquisition lending record
Fulton Bank, National Association (home state PA) approved 140 SBA 7(a) loans to buy existing businesses since FY2018, totaling $172M. The median loan was $654,400. It ranks number 70 of 280 lenders by count and made 0.3% of all SBA acquisition loans nationally.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $254,875 and $1,715,000. 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 11 states, which points to a regional lender.
- Industry concentration. Beer, Wine, and Liquor Retailers is 6% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 717 SBA 7(a) loans of any purpose since FY2020, totaling $619M. 80% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 8% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 1.9% charged off, 45% lower than the 3.5% national average.
Fulton Bank, National Association acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 14 | $32M | $2,261,500 | |
| FY2019 | 14 | $16.9M | $599,400 | |
| FY2020 | 8 | $10.5M | $910,250 | |
| FY2021 | 16 | $18.5M | $753,000 | |
| FY2022 | 9 | $8M | $688,000 | |
| FY2023 | 19 | $15.7M | $405,000 | |
| FY2024 | 8 | $5.5M | $296,000 | |
| FY2025 | 22 | $21.7M | $434,000 | |
| FY2026 | 30 | $43.2M | $719,000 |
How often do these acquisition loans fail?
Of the 52 Fulton Bank, National Association 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 1.9% by loan count and 0.5% by dollars. 32 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 Fulton Bank, National Association is 45% 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.
Terms signed in the LOI shape the purchase agreement that follows.
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States served
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor Retailers | 9 | 6.4% | $18.6M | |
| 2 | Limited-Service Restaurants | 7 | 5.0% | $3.5M | |
| 3 | Electrical Contractors and Other Wiring Installation Contractors | 6 | 4.3% | $11.7M | |
| 4 | Full-Service Restaurants | 6 | 4.3% | $6M | |
| 5 | Pharmacies and Drug Retailers | 4 | 2.9% | $5.4M | |
| 6 | Machine Shops | 3 | 2.1% | $2.3M | |
| 7 | Sign Manufacturing | 3 | 2.1% | $2M | |
| 8 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | 2.1% | $1.9M | |
| 9 | Pet and Pet Supplies Retailers | 3 | 2.1% | $1.7M | |
| 10 | Drinking Places (Alcoholic Beverages) | 3 | 2.1% | $1.7M |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | FASTSIGNS | 3 | 2.1% | $2M | |
| 2 | Red Roof Inn | 1 | 0.7% | $3.3M | |
| 3 | Jet's Pizza | 1 | 0.7% | $688K | |
| 4 | Always Best Care Services | 1 | 0.7% | $540K | |
| 5 | Minuteman Press | 1 | 0.7% | $450K | |
| 6 | Pearle Vision | 1 | 0.7% | $265K | |
| 7 | Rita's Ice-Custard-Happiness | 1 | 0.7% | $175K |
Questions buyers ask
Does Fulton Bank, National Association make SBA acquisition loans?
Yes. Fulton Bank, National Association approved 140 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 70 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 Fulton Bank, National Association's acquisition loans?
The median was $654,400, with the middle half between $254,875 and $1,715,000. The national median is $645,250, so this lender's typical loan is in line with the national figure.
Which states does Fulton Bank, National Association lend in?
Pennsylvania (46), New Jersey (37), Maryland (25), Virginia (12), Delaware (8), Georgia (3). Its loans appear in 11 states, so it is closer to a regional lender.
Which industries does Fulton Bank, National Association finance?
Beer, Wine, and Liquor Retailers (9), Limited-Service Restaurants (7), Electrical Contractors and Other Wiring Installation Contractors (6), Full-Service Restaurants (6), Pharmacies and Drug Retailers (4). The top industry is 6% of its acquisition loans.
How have Fulton Bank, National Association's acquisition loans performed?
Of 52 loans approved FY2018 to FY2021: 1.9% charged off, 45% lower than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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Related
- Pennsylvania acquisitions
- New Jersey acquisitions
- Maryland acquisitions
- Beer, Wine, and Liquor Retailers
- Limited-Service Restaurants
- Electrical Contractors and Other Wiring Installation Contractors
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Fulton Bank, National Association.