Peapack Private Bank and Trust: SBA business acquisition lending record
Peapack Private Bank and Trust (home state NJ) approved 91 SBA 7(a) loans to buy existing businesses since FY2018, totaling $134M. The median loan was $950,000. It ranks number 109 of 280 lenders by count and made 0.2% 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 $550,000 and $1,735,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. New Jersey is the largest state (67% of loans). Loans appear in only 6 states, which points to a regional lender.
- Industry concentration. Beer, Wine, and Liquor Retailers is 34% of its acquisition loans. This is a specialist pattern.
- Overall 7(a) volume. 213 SBA 7(a) loans of any purpose since FY2020, totaling $271M. 96% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 18% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: none charged off, against the 3.5% national average.
Peapack Private Bank and Trust acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $1.7M | $860,000 | |
| FY2019 | 2 | $975K | $487,500 | |
| FY2020 | 10 | $21.2M | $1,275,000 | |
| FY2021 | 23 | $37.6M | $1,150,000 | |
| FY2022 | 9 | $27.1M | $2,500,000 | |
| FY2023 | 14 | $15.7M | $680,000 | |
| FY2024 | 13 | $10.4M | $550,000 | |
| FY2025 | 14 | $16.1M | $657,000 | |
| FY2026 | 4 | $3.5M | $1,031,500 |
How often do these acquisition loans fail?
Of the 37 Peapack Private Bank and Trust acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 16 have already been paid in full.
For comparison, Peapack Private Bank and Trust has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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 | New Jersey | 61 | 67.0% | $73.5M | |
| 2 | New York | 14 | 15.4% | $26.5M | |
| 3 | Pennsylvania | 12 | 13.2% | $22.6M | |
| 4 | Connecticut | 2 | 2.2% | $2.4M | |
| 5 | California | 1 | 1.1% | $5M | |
| 6 | Virginia | 1 | 1.1% | $4.3M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor Retailers | 31 | 34.1% | $35.3M | |
| 2 | Hotels (except Casino Hotels) and Motels | 13 | 14.3% | $44.2M | |
| 3 | Car Washes | 4 | 4.4% | $6.4M | |
| 4 | Limited-Service Restaurants | 3 | 3.3% | $5.3M | |
| 5 | Assisted Living Facilities for the Elderly | 3 | 3.3% | $4.1M | |
| 6 | Convenience Retailers | 3 | 3.3% | $1.5M | |
| 7 | Pharmacies and Drug Retailers | 3 | 3.3% | $1.5M | |
| 8 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | 2.2% | $2M | |
| 9 | Gasoline Stations with Convenience Stores | 2 | 2.2% | $1.2M | |
| 10 | Private Mail Centers | 2 | 2.2% | $1.2M |
Seller note standby terms and third-party consents are reviewed before closing.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Red Roof Inn | 3 | 3.3% | $11.1M | |
| 2 | Quality Inn | 3 | 3.3% | $10.8M | |
| 3 | The UPS Store | 2 | 2.2% | $878K | |
| 4 | Best Western | 1 | 1.1% | $4.7M | |
| 5 | Motel 6 | 1 | 1.1% | $4.4M | |
| 6 | Comfort Inn | 1 | 1.1% | $4.2M | |
| 7 | Knights Inn | 1 | 1.1% | $3.8M | |
| 8 | Maaco | 1 | 1.1% | $470K |
Questions buyers ask
Does Peapack Private Bank and Trust make SBA acquisition loans?
Yes. Peapack Private Bank and Trust approved 91 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 109 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 Peapack Private Bank and Trust's acquisition loans?
The median was $950,000, with the middle half between $550,000 and $1,735,000. The national median is $645,250, so this lender's typical loan is 47% higher than the national figure.
Which states does Peapack Private Bank and Trust lend in?
New Jersey (61), New York (14), Pennsylvania (12), Connecticut (2), California (1), Virginia (1). Its loans appear in 6 states, so it is closer to a regional lender.
Which industries does Peapack Private Bank and Trust finance?
Beer, Wine, and Liquor Retailers (31), Hotels (except Casino Hotels) and Motels (13), Car Washes (4), Limited-Service Restaurants (3), Assisted Living Facilities for the Elderly (3). The top industry is 34% of its acquisition loans.
How have Peapack Private Bank and Trust's acquisition loans performed?
Of 37 loans approved FY2018 to FY2021: none charged off, against 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
- New Jersey acquisitions
- New York acquisitions
- Pennsylvania acquisitions
- Beer, Wine, and Liquor Retailers
- Hotels (except Casino Hotels) and Motels
- Car Washes
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Peapack Private Bank and Trust.