Rockland Trust Company: SBA business acquisition lending record
Rockland Trust Company (home state MA) approved 167 SBA 7(a) loans to buy existing businesses since FY2018, totaling $99.1M. The median loan was $270,000. It ranks number 58 of 280 lenders by count and made 0.3% 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 $832,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Massachusetts is the largest state (76% of loans). Loans appear in only 6 states, which points to a regional lender.
- Industry concentration. Beer, Wine, and Liquor Retailers is 19% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 592 SBA 7(a) loans of any purpose since FY2020, totaling $214M. 62% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 9% 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.
Rockland Trust Company acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $1.9M | $240,000 | |
| FY2019 | 7 | $6.1M | $656,000 | |
| FY2020 | 5 | $3.4M | $350,000 | |
| FY2021 | 17 | $8M | $280,000 | |
| FY2022 | 9 | $4.1M | $262,500 | |
| FY2023 | 13 | $13M | $234,000 | |
| FY2024 | 47 | $28.1M | $252,000 | |
| FY2025 | 40 | $24.5M | $331,250 | |
| FY2026 | 24 | $9.9M | $235,500 |
How often do these acquisition loans fail?
Of the 34 Rockland Trust Company 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. 20 have already been paid in full.
For comparison, Rockland Trust Company 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.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Massachusetts | 127 | 76.0% | $74.5M | |
| 2 | New Hampshire | 25 | 15.0% | $16M | |
| 3 | Rhode Island | 7 | 4.2% | $4.1M | |
| 4 | Connecticut | 6 | 3.6% | $1.5M | |
| 5 | New York | 1 | 0.6% | $2.2M | |
| 6 | Maine | 1 | 0.6% | $810K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor Retailers | 31 | 18.6% | $19.4M | |
| 2 | Full-Service Restaurants | 20 | 12.0% | $8.5M | |
| 3 | Convenience Retailers | 7 | 4.2% | $5.5M | |
| 4 | Gasoline Stations with Convenience Stores | 6 | 3.6% | $6.3M | |
| 5 | Couriers and Express Delivery Services | 6 | 3.6% | $4.3M | |
| 6 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 5 | 3.0% | $5M | |
| 7 | Other Personal Care Services | 4 | 2.4% | $2.1M | |
| 8 | General Automotive Repair | 4 | 2.4% | $1M | |
| 9 | Snack and Nonalcoholic Beverage Bars | 4 | 2.4% | $588K | |
| 10 | All Other Specialty Food Retailers | 3 | 1.8% | $4.6M |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fitness Together | 2 | 1.2% | $216K | |
| 2 | Home Instead | 1 | 0.6% | $925K | |
| 3 | Ace Hardware | 1 | 0.6% | $495K | |
| 4 | Edible Arrangements | 1 | 0.6% | $220K | |
| 5 | The UPS Store | 1 | 0.6% | $212K | |
| 6 | Allegra | 1 | 0.6% | $150K | |
| 7 | Servpro | 1 | 0.6% | $125K |
Questions buyers ask
Does Rockland Trust Company make SBA acquisition loans?
Yes. Rockland Trust Company approved 167 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 58 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 Rockland Trust Company's acquisition loans?
The median was $270,000, with the middle half between $150,000 and $832,500. The national median is $645,250, so this lender's typical loan is 58% lower than the national figure.
Which states does Rockland Trust Company lend in?
Massachusetts (127), New Hampshire (25), Rhode Island (7), Connecticut (6), New York (1), Maine (1). Its loans appear in 6 states, so it is closer to a regional lender.
Which industries does Rockland Trust Company finance?
Beer, Wine, and Liquor Retailers (31), Full-Service Restaurants (20), Convenience Retailers (7), Gasoline Stations with Convenience Stores (6), Couriers and Express Delivery Services (6). The top industry is 19% of its acquisition loans.
How have Rockland Trust Company's acquisition loans performed?
Of 34 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.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Massachusetts acquisitions
- New Hampshire acquisitions
- Rhode Island acquisitions
- Beer, Wine, and Liquor Retailers
- Full-Service Restaurants
- Convenience Retailers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Rockland Trust Company.