PromiseOne Bank: SBA business acquisition lending record
PromiseOne Bank (home state GA) approved 76 SBA 7(a) loans to buy existing businesses since FY2018, totaling $117M. The median loan was $1,122,500. It ranks number 128 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 $661,250 and $2,087,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Georgia is the largest state (29% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Hotels (except Casino Hotels) and Motels is 30% of its acquisition loans. This is a specialist pattern.
- Overall 7(a) volume. 369 SBA 7(a) loans of any purpose since FY2020, totaling $418M. 96% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 33% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 3.5% charged off, in line with the 3.5% national average.
PromiseOne Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 8 | $7.8M | $1,002,500 | |
| FY2019 | 12 | $22M | $1,775,000 | |
| FY2020 | 5 | $11.1M | $1,720,000 | |
| FY2021 | 4 | $4.4M | $1,170,000 | |
| FY2022 | 8 | $9.6M | $1,090,750 | |
| FY2023 | 4 | $2.4M | $590,000 | |
| FY2024 | 5 | $7.7M | $1,510,000 | |
| FY2025 | 14 | $21.7M | $1,000,000 | |
| FY2026 | 16 | $30.7M | $1,162,500 |
How often do these acquisition loans fail?
Of the 29 PromiseOne Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 1 have been charged off by the SBA, a rate of 3.5% by loan count and 0.9% by dollars. 13 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 PromiseOne Bank is in line with 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 | Georgia | 22 | 28.9% | $37.2M | |
| 2 | Pennsylvania | 11 | 14.5% | $7.5M | |
| 3 | Texas | 8 | 10.5% | $15.1M | |
| 4 | Colorado | 8 | 10.5% | $10.7M | |
| 5 | Maryland | 6 | 7.9% | $5.5M | |
| 6 | Florida | 4 | 5.3% | $9.4M | |
| 7 | South Carolina | 3 | 3.9% | $8.1M | |
| 8 | North Carolina | 3 | 3.9% | $5.6M | |
| 9 | Virginia | 3 | 3.9% | $5.2M | |
| 10 | Alabama | 2 | 2.6% | $3.2M | |
| 11 | Tennessee | 2 | 2.6% | $1.4M | |
| 12 | Ohio | 1 | 1.3% | $3.5M | |
| 13 | Delaware | 1 | 1.3% | $2.6M | |
| 14 | New York | 1 | 1.3% | $1.2M | |
| 15 | Michigan | 1 | 1.3% | $1.1M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 23 | 30.3% | $62.2M | |
| 2 | Beer, Wine, and Liquor Retailers | 14 | 18.4% | $18M | |
| 3 | Gasoline Stations with Convenience Stores | 11 | 14.5% | $15.6M | |
| 4 | Broilers and Other Meat Type Chicken Production | 7 | 9.2% | $8.6M | |
| 5 | Full-Service Restaurants | 5 | 6.6% | $2.5M | |
| 6 | Drycleaning and Laundry Services (except Coin-Operated) | 4 | 5.3% | $2M | |
| 7 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 3 | 3.9% | $3.4M | |
| 8 | Limited-Service Restaurants | 2 | 2.6% | $650K | |
| 9 | Nail Salons | 2 | 2.6% | $510K | |
| 10 | All Other Plastics Product Manufacturing | 1 | 1.3% | $1.1M |
Seller note standby terms and third-party consents are reviewed before closing.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Quality Inn | 6 | 7.9% | $17M | |
| 2 | Comfort Inn | 2 | 2.6% | $8.2M | |
| 3 | Best Western | 2 | 2.6% | $5.8M | |
| 4 | Days Inn | 2 | 2.6% | $2.9M | |
| 5 | Motel 6 | 1 | 1.3% | $3.5M | |
| 6 | Howard Johnson | 1 | 1.3% | $2.8M | |
| 7 | Sleep Inn | 1 | 1.3% | $2.7M | |
| 8 | J.F. Presley Oil Company (Phillips 66) | 1 | 1.3% | $2.1M | |
| 9 | Econo Lodge | 1 | 1.3% | $1.6M | |
| 10 | Super 8 | 1 | 1.3% | $1.3M |
Questions buyers ask
Does PromiseOne Bank make SBA acquisition loans?
Yes. PromiseOne Bank approved 76 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 128 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 PromiseOne Bank's acquisition loans?
The median was $1,122,500, with the middle half between $661,250 and $2,087,500. The national median is $645,250, so this lender's typical loan is 74% higher than the national figure.
Which states does PromiseOne Bank lend in?
Georgia (22), Pennsylvania (11), Texas (8), Colorado (8), Maryland (6), Florida (4). Its loans span at least 15 states.
Which industries does PromiseOne Bank finance?
Hotels (except Casino Hotels) and Motels (23), Beer, Wine, and Liquor Retailers (14), Gasoline Stations with Convenience Stores (11), Broilers and Other Meat Type Chicken Production (7), Full-Service Restaurants (5). The top industry is 30% of its acquisition loans.
How have PromiseOne Bank's acquisition loans performed?
Of 29 loans approved FY2018 to FY2021: 3.5% charged off, in line with the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Georgia acquisitions
- Pennsylvania acquisitions
- Texas acquisitions
- Hotels (except Casino Hotels) and Motels
- Beer, Wine, and Liquor Retailers
- Gasoline Stations with Convenience Stores
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by PromiseOne Bank.