IncredibleBank: SBA business acquisition lending record
IncredibleBank (home state WI) approved 156 SBA 7(a) loans to buy existing businesses since FY2018, totaling $200M. The median loan was $944,300. It ranks number 62 of 280 lenders by count and made 0.3% of all SBA acquisition loans nationally.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $557,500 and $1,547,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Wisconsin is the largest state (21% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Hotels (except Casino Hotels) and Motels is 13% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 377 SBA 7(a) loans of any purpose since FY2020, totaling $451M. 92% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 24% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 4.2% charged off, 20% higher than the 3.5% national average.
IncredibleBank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 7 | $3.2M | $513,800 | |
| FY2019 | 33 | $44.6M | $950,600 | |
| FY2020 | 29 | $32.7M | $912,000 | |
| FY2021 | 26 | $42.1M | $1,250,000 | |
| FY2022 | 21 | $31.1M | $1,050,000 | |
| FY2023 | 17 | $24.5M | $1,100,000 | |
| FY2024 | 17 | $15.8M | $650,000 | |
| FY2025 | 5 | $4.4M | $612,000 | |
| FY2026 | 1 | $1.3M | $1,269,000 |
How often do these acquisition loans fail?
Of the 95 IncredibleBank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 4 have been charged off by the SBA, a rate of 4.2% by loan count and 2.2% by dollars. 46 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 IncredibleBank is 20% higher 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.
Seller note standby terms and third-party consents are reviewed before closing.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Wisconsin | 32 | 20.5% | $35.7M | |
| 2 | Michigan | 21 | 13.5% | $18.4M | |
| 3 | Florida | 16 | 10.3% | $28.6M | |
| 4 | Colorado | 12 | 7.7% | $14M | |
| 5 | Texas | 11 | 7.1% | $17M | |
| 6 | California | 8 | 5.1% | $15.7M | |
| 7 | Nevada | 6 | 3.8% | $4.9M | |
| 8 | Indiana | 5 | 3.2% | $9.6M | |
| 9 | North Carolina | 5 | 3.2% | $9.3M | |
| 10 | Pennsylvania | 4 | 2.6% | $6M | |
| 11 | New York | 4 | 2.6% | $5.2M | |
| 12 | Georgia | 4 | 2.6% | $4.5M | |
| 13 | Tennessee | 3 | 1.9% | $3.3M | |
| 14 | Missouri | 3 | 1.9% | $2.3M | |
| 15 | Illinois | 3 | 1.9% | $2.3M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 21 | 13.5% | $42.8M | |
| 2 | Beer, Wine, and Liquor Retailers | 11 | 7.1% | $13.3M | |
| 3 | Full-Service Restaurants | 10 | 6.4% | $9.4M | |
| 4 | Limited-Service Restaurants | 8 | 5.1% | $3.8M | |
| 5 | Bowling Centers | 6 | 3.8% | $7.8M | |
| 6 | Cemeteries and Crematories | 4 | 2.6% | $6.4M | |
| 7 | Funeral Homes and Funeral Services | 4 | 2.6% | $5.3M | |
| 8 | Assisted Living Facilities for the Elderly | 3 | 1.9% | $5.7M | |
| 9 | Gasoline Stations with Convenience Stores | 3 | 1.9% | $4.3M | |
| 10 | Local Messengers and Local Delivery | 3 | 1.9% | $3.4M |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Baymont | 2 | 1.3% | $6M | |
| 2 | Quality Inn | 2 | 1.3% | $5M | |
| 3 | Days Inn | 2 | 1.3% | $3.5M | |
| 4 | Econo Lodge | 2 | 1.3% | $3M | |
| 5 | Midas | 2 | 1.3% | $2.8M | |
| 6 | The UPS Store | 2 | 1.3% | $1.4M | |
| 7 | Ramada | 1 | 0.6% | $5M | |
| 8 | Hampton Inn | 1 | 0.6% | $4.4M | |
| 9 | Ford Motor Company | 1 | 0.6% | $4.2M | |
| 10 | Red Roof Inn | 1 | 0.6% | $3.5M |
Questions buyers ask
Does IncredibleBank make SBA acquisition loans?
Yes. IncredibleBank approved 156 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 62 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 IncredibleBank's acquisition loans?
The median was $944,300, with the middle half between $557,500 and $1,547,500. The national median is $645,250, so this lender's typical loan is 46% higher than the national figure.
Which states does IncredibleBank lend in?
Wisconsin (32), Michigan (21), Florida (16), Colorado (12), Texas (11), California (8). Its loans span at least 15 states.
Which industries does IncredibleBank finance?
Hotels (except Casino Hotels) and Motels (21), Beer, Wine, and Liquor Retailers (11), Full-Service Restaurants (10), Limited-Service Restaurants (8), Bowling Centers (6). The top industry is 13% of its acquisition loans.
How have IncredibleBank's acquisition loans performed?
Of 95 loans approved FY2018 to FY2021: 4.2% charged off, 20% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- Wisconsin acquisitions
- Michigan acquisitions
- Florida acquisitions
- Hotels (except Casino Hotels) and Motels
- Beer, Wine, and Liquor Retailers
- Full-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by IncredibleBank.