Renasant Bank: SBA business acquisition lending record
Renasant Bank (home state MS) approved 120 SBA 7(a) loans to buy existing businesses since FY2018, totaling $133M. The median loan was $775,400. It ranks number 84 of 280 lenders by count and made 0.2% of all SBA acquisition loans nationally.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $383,150 and $1,593,550. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Georgia is the largest state (61% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Insurance Agencies and Brokerages is 10% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 431 SBA 7(a) loans of any purpose since FY2020, totaling $462M. 51% 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: 1.6% charged off, 53% lower than the 3.5% national average.
Renasant Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 10 | $6.7M | $485,900 | |
| FY2019 | 9 | $7.8M | $780,800 | |
| FY2020 | 18 | $17.5M | $586,850 | |
| FY2021 | 24 | $35M | $1,341,500 | |
| FY2022 | 18 | $15M | $516,000 | |
| FY2023 | 13 | $9.7M | $576,000 | |
| FY2024 | 10 | $13.6M | $1,250,000 | |
| FY2025 | 12 | $15.9M | $821,000 | |
| FY2026 | 6 | $11.7M | $1,923,650 |
How often do these acquisition loans fail?
Of the 61 Renasant 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 1.6% by loan count and 0.9% by dollars. 34 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 Renasant Bank is 53% lower 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.
The purchase agreement decides what you bought, not the loan approval.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Georgia | 73 | 60.8% | $77.9M | |
| 2 | Alabama | 12 | 10.0% | $8.9M | |
| 3 | Florida | 11 | 9.2% | $18.8M | |
| 4 | Tennessee | 8 | 6.7% | $10M | |
| 5 | Mississippi | 4 | 3.3% | $1.4M | |
| 6 | South Carolina | 2 | 1.7% | $3.8M | |
| 7 | Illinois | 2 | 1.7% | $2.4M | |
| 8 | Oklahoma | 1 | 0.8% | $2M | |
| 9 | Michigan | 1 | 0.8% | $1.8M | |
| 10 | Kentucky | 1 | 0.8% | $1.8M | |
| 11 | Alaska | 1 | 0.8% | $1.3M | |
| 12 | Texas | 1 | 0.8% | $797K | |
| 13 | New York | 1 | 0.8% | $701K | |
| 14 | Arizona | 1 | 0.8% | $651K | |
| 15 | Washington | 1 | 0.8% | $561K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Insurance Agencies and Brokerages | 12 | 10.0% | $15.5M | |
| 2 | Full-Service Restaurants | 11 | 9.2% | $8.8M | |
| 3 | Broilers and Other Meat Type Chicken Production | 4 | 3.3% | $7.6M | |
| 4 | General Automotive Repair | 4 | 3.3% | $6.2M | |
| 5 | Fitness and Recreational Sports Centers | 4 | 3.3% | $2.9M | |
| 6 | Limited-Service Restaurants | 4 | 3.3% | $1.9M | |
| 7 | Pet Care (except Veterinary) Services | 3 | 2.5% | $4.9M | |
| 8 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | 2.5% | $3.9M | |
| 9 | Private Mail Centers | 3 | 2.5% | $1.4M | |
| 10 | All Other Personal Services | 3 | 2.5% | $1.4M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Christian Brothers Automotive | 3 | 2.5% | $5.4M | |
| 2 | The UPS Store | 3 | 2.5% | $1.4M | |
| 3 | Great American Cookies | 2 | 1.7% | $572K | |
| 4 | Sleep Inn | 1 | 0.8% | $2.5M | |
| 5 | Comfort Inn | 1 | 0.8% | $2.5M | |
| 6 | Dairy Queen | 1 | 0.8% | $900K | |
| 7 | Edible Arrangements | 1 | 0.8% | $650K | |
| 8 | IHOP | 1 | 0.8% | $609K | |
| 9 | barre3 | 1 | 0.8% | $218K |
Questions buyers ask
Does Renasant Bank make SBA acquisition loans?
Yes. Renasant Bank approved 120 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 84 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 Renasant Bank's acquisition loans?
The median was $775,400, with the middle half between $383,150 and $1,593,550. The national median is $645,250, so this lender's typical loan is 20% higher than the national figure.
Which states does Renasant Bank lend in?
Georgia (73), Alabama (12), Florida (11), Tennessee (8), Mississippi (4), South Carolina (2). Its loans span at least 15 states.
Which industries does Renasant Bank finance?
Insurance Agencies and Brokerages (12), Full-Service Restaurants (11), Broilers and Other Meat Type Chicken Production (4), General Automotive Repair (4), Fitness and Recreational Sports Centers (4). The top industry is 10% of its acquisition loans.
How have Renasant Bank's acquisition loans performed?
Of 61 loans approved FY2018 to FY2021: 1.6% charged off, 53% lower than 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
- Georgia acquisitions
- Alabama acquisitions
- Florida acquisitions
- Insurance Agencies and Brokerages
- Full-Service Restaurants
- Broilers and Other Meat Type Chicken Production
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Renasant Bank.