Midwest BankCentre: SBA business acquisition lending record
Midwest BankCentre (home state MO) approved 35 SBA 7(a) loans to buy existing businesses since FY2018, totaling $32.8M. The median loan was $670,000. It ranks number 223 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 $480,100 and $1,238,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Missouri is the largest state (46% of loans). Loans appear in only 9 states, which points to a regional lender.
- Industry concentration. Sporting Goods Retailers is 6% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 94 SBA 7(a) loans of any purpose since FY2020, totaling $103M. 69% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 14% 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.
Midwest BankCentre acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $307K | $306,600 | |
| FY2019 | 3 | $3.2M | $887,000 | |
| FY2020 | 1 | $2.1M | $2,147,000 | |
| FY2021 | 2 | $1.4M | $705,500 | |
| FY2022 | 3 | $2.9M | $670,000 | |
| FY2023 | 1 | $482K | $482,000 | |
| FY2024 | 6 | $4.3M | $494,000 | |
| FY2025 | 9 | $12.5M | $1,241,000 | |
| FY2026 | 9 | $5.6M | $534,000 |
How often do these acquisition loans fail?
Fewer than 20 Midwest BankCentre 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.
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States served
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Sporting Goods Retailers | 2 | 5.7% | $2M | |
| 2 | Offices of Certified Public Accountants | 2 | 5.7% | $1.7M | |
| 3 | Limited-Service Restaurants | 2 | 5.7% | $1.1M | |
| 4 | Landscaping Services | 2 | 5.7% | $1M | |
| 5 | Snack and Nonalcoholic Beverage Bars | 2 | 5.7% | $870K | |
| 6 | Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers | 1 | 2.9% | $3.3M | |
| 7 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | 2.9% | $2.4M | |
| 8 | Wood Kitchen Cabinet and Countertop Manufacturing | 1 | 2.9% | $2.1M | |
| 9 | Electrical Contractors and Other Wiring Installation Contractors | 1 | 2.9% | $2M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Play It Again Sports | 1 | 2.9% | $1.9M | |
| 2 | Pet Supplies Plus | 1 | 2.9% | $695K | |
| 3 | Jimmy John's | 1 | 2.9% | $570K |
Questions buyers ask
Does Midwest BankCentre make SBA acquisition loans?
Yes. Midwest BankCentre approved 35 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 223 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 Midwest BankCentre's acquisition loans?
The median was $670,000, with the middle half between $480,100 and $1,238,000. The national median is $645,250, so this lender's typical loan is in line with the national figure.
Which states does Midwest BankCentre lend in?
Missouri (16), Florida (11), Georgia (2), Arkansas (1), Tennessee (1), Washington (1). Its loans appear in 9 states, so it is closer to a regional lender.
Which industries does Midwest BankCentre finance?
Sporting Goods Retailers (2), Offices of Certified Public Accountants (2), Limited-Service Restaurants (2), Landscaping Services (2), Snack and Nonalcoholic Beverage Bars (2). The top industry is 6% of its acquisition loans.
How have Midwest BankCentre'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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- Missouri acquisitions
- Florida acquisitions
- Georgia acquisitions
- Sporting Goods Retailers
- Offices of Certified Public Accountants
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Midwest BankCentre.