Magnifi Financial CU: SBA business acquisition lending record
Magnifi Financial CU (home state MN) approved 37 SBA 7(a) loans to buy existing businesses since FY2018, totaling $10.7M. The median loan was $225,000. It ranks number 212 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 $150,000 and $349,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Minnesota is the largest state (46% of loans). Loans appear in only 14 states, which points to a regional lender.
- Industry concentration. Limited-Service Restaurants is 24% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 416 SBA 7(a) loans of any purpose since FY2020, totaling $119M. 92% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 27% 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.
Magnifi Financial CU acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $1.7M | $222,500 | |
| FY2019 | 3 | $462K | $159,000 | |
| FY2020 | 2 | $542K | $271,000 | |
| FY2021 | 3 | $651K | $225,000 | |
| FY2022 | 3 | $698K | $294,000 | |
| FY2023 | 8 | $2.9M | $377,500 | |
| FY2024 | 6 | $1.2M | $150,000 | |
| FY2025 | 5 | $1.2M | $198,000 | |
| FY2026 | 3 | $1.4M | $512,000 |
How often do these acquisition loans fail?
Fewer than 20 Magnifi Financial CU 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.
Terms signed in the LOI shape the purchase agreement that follows.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Minnesota | 17 | 45.9% | $4.8M | |
| 2 | Florida | 5 | 13.5% | $1.1M | |
| 3 | North Carolina | 2 | 5.4% | $906K | |
| 4 | Georgia | 2 | 5.4% | $796K | |
| 5 | Wisconsin | 2 | 5.4% | $458K | |
| 6 | California | 1 | 2.7% | $512K | |
| 7 | Tennessee | 1 | 2.7% | $495K | |
| 8 | Michigan | 1 | 2.7% | $480K | |
| 9 | Texas | 1 | 2.7% | $355K | |
| 10 | Vermont | 1 | 2.7% | $218K | |
| 11 | Ohio | 1 | 2.7% | $198K | |
| 12 | Indiana | 1 | 2.7% | $150K | |
| 13 | Alabama | 1 | 2.7% | $123K | |
| 14 | Pennsylvania | 1 | 2.7% | $117K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 9 | 24.3% | $3M | |
| 2 | Full-Service Restaurants | 6 | 16.2% | $1.9M | |
| 3 | Snack and Nonalcoholic Beverage Bars | 3 | 8.1% | $761K | |
| 4 | General Freight Trucking, Local | 2 | 5.4% | $1.2M | |
| 5 | Other Building Material Dealers | 2 | 5.4% | $350K | |
| 6 | Meat Retailers | 1 | 2.7% | $713K | |
| 7 | Fitness and Recreational Sports Centers | 1 | 2.7% | $355K | |
| 8 | Other Accounting Services | 1 | 2.7% | $349K | |
| 9 | Insurance Agencies and Brokerages | 1 | 2.7% | $307K | |
| 10 | Other Miscellaneous Durable Goods Merchant Wholesalers | 1 | 2.7% | $250K |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Firehouse Subs | 2 | 5.4% | $673K | |
| 2 | Round Table Pizza | 1 | 2.7% | $512K | |
| 3 | Hungry Howie's Pizza | 1 | 2.7% | $495K | |
| 4 | Hotworx | 1 | 2.7% | $355K | |
| 5 | Subway | 1 | 2.7% | $299K | |
| 6 | Elements Massage | 1 | 2.7% | $150K | |
| 7 | Rita's Ice-Custard-Happiness | 1 | 2.7% | $117K |
Questions buyers ask
Does Magnifi Financial CU make SBA acquisition loans?
Yes. Magnifi Financial CU approved 37 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 212 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 Magnifi Financial CU's acquisition loans?
The median was $225,000, with the middle half between $150,000 and $349,000. The national median is $645,250, so this lender's typical loan is 65% lower than the national figure.
Which states does Magnifi Financial CU lend in?
Minnesota (17), Florida (5), North Carolina (2), Georgia (2), Wisconsin (2), California (1). Its loans appear in 14 states, so it is closer to a regional lender.
Which industries does Magnifi Financial CU finance?
Limited-Service Restaurants (9), Full-Service Restaurants (6), Snack and Nonalcoholic Beverage Bars (3), General Freight Trucking, Local (2), Other Building Material Dealers (2). The top industry is 24% of its acquisition loans.
How have Magnifi Financial CU'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.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Minnesota acquisitions
- Florida acquisitions
- North Carolina acquisitions
- Limited-Service Restaurants
- Full-Service Restaurants
- Snack and Nonalcoholic Beverage Bars
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Magnifi Financial CU.