Grasshopper Bank National Association: SBA business acquisition lending record
Grasshopper Bank National Association (home state NY) approved 39 SBA 7(a) loans to buy existing businesses since FY2018, totaling $66M. The median loan was $1,310,000. It ranks number 208 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 $546,000 and $2,454,350. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. California is the largest state (15% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Bowling Centers is 8% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 469 SBA 7(a) loans of any purpose since FY2020, totaling $345M. 90% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 10% 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.
Grasshopper Bank National Association acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 5 | $9.8M | $1,013,000 | |
| FY2023 | 7 | $6.8M | $783,000 | |
| FY2024 | 10 | $17.2M | $1,404,000 | |
| FY2025 | 6 | $11M | $1,755,000 | |
| FY2026 | 11 | $21.2M | $1,950,000 |
How often do these acquisition loans fail?
Fewer than 20 Grasshopper Bank National Association 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.
The purchase agreement decides what you bought, not the loan approval.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 6 | 15.4% | $14.1M | |
| 2 | Florida | 4 | 10.3% | $5.6M | |
| 3 | Maryland | 3 | 7.7% | $6.9M | |
| 4 | New Jersey | 3 | 7.7% | $3.3M | |
| 5 | Michigan | 3 | 7.7% | $2.7M | |
| 6 | Colorado | 3 | 7.7% | $1.9M | |
| 7 | New York | 2 | 5.1% | $4.7M | |
| 8 | North Carolina | 2 | 5.1% | $1.5M | |
| 9 | Wyoming | 2 | 5.1% | $1.5M | |
| 10 | Idaho | 2 | 5.1% | $850K | |
| 11 | Arkansas | 1 | 2.6% | $5M | |
| 12 | Connecticut | 1 | 2.6% | $4M | |
| 13 | Delaware | 1 | 2.6% | $3.9M | |
| 14 | Kansas | 1 | 2.6% | $3.9M | |
| 15 | Wisconsin | 1 | 2.6% | $2.5M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bowling Centers | 3 | 7.7% | $7.8M | |
| 2 | Funeral Homes and Funeral Services | 2 | 5.1% | $4.9M | |
| 3 | Fitness and Recreational Sports Centers | 2 | 5.1% | $4.9M | |
| 4 | Offices of Certified Public Accountants | 2 | 5.1% | $4M | |
| 5 | Electronics and Appliance Retailers | 2 | 5.1% | $2.1M | |
| 6 | Car Washes | 2 | 5.1% | $1.8M | |
| 7 | Child Care Services | 2 | 5.1% | $850K | |
| 8 | Commercial and Institutional Building Construction | 1 | 2.6% | $5M | |
| 9 | Industrial Machinery and Equipment Merchant Wholesalers | 1 | 2.6% | $4M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Crumbl | 1 | 2.6% | $630K | |
| 2 | The Grounds Guys | 1 | 2.6% | $580K |
Questions buyers ask
Does Grasshopper Bank National Association make SBA acquisition loans?
Yes. Grasshopper Bank National Association approved 39 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 208 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 Grasshopper Bank National Association's acquisition loans?
The median was $1,310,000, with the middle half between $546,000 and $2,454,350. The national median is $645,250, so this lender's typical loan is 103% higher than the national figure.
Which states does Grasshopper Bank National Association lend in?
California (6), Florida (4), Maryland (3), New Jersey (3), Michigan (3), Colorado (3). Its loans span at least 15 states.
Which industries does Grasshopper Bank National Association finance?
Bowling Centers (3), Funeral Homes and Funeral Services (2), Fitness and Recreational Sports Centers (2), Offices of Certified Public Accountants (2), Electronics and Appliance Retailers (2). The top industry is 8% of its acquisition loans.
How have Grasshopper Bank National Association'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.
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Related
- California acquisitions
- Florida acquisitions
- Maryland acquisitions
- Bowling Centers
- Funeral Homes and Funeral Services
- Fitness and Recreational Sports Centers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Grasshopper Bank National Association.