SouthState Bank, National Association: SBA business acquisition lending record
SouthState Bank, National Association (home state FL) approved 274 SBA 7(a) loans to buy existing businesses since FY2018, totaling $290M. The median loan was $734,450. It ranks number 35 of 280 lenders by count and made 0.6% 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 $442,500 and $1,402,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Florida is the largest state (35% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Limited-Service Restaurants is 7% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 2,017 SBA 7(a) loans of any purpose since FY2020, totaling $1.3B. 93% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 19% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 1.8% charged off, 48% lower than the 3.5% national average.
SouthState Bank, National Association acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 51 | $69M | $990,000 | |
| FY2019 | 50 | $45.5M | $576,000 | |
| FY2020 | 39 | $36.9M | $747,900 | |
| FY2021 | 24 | $29.2M | $775,700 | |
| FY2022 | 21 | $23.5M | $753,000 | |
| FY2023 | 23 | $22.4M | $711,000 | |
| FY2024 | 25 | $28M | $705,600 | |
| FY2025 | 29 | $22.8M | $612,000 | |
| FY2026 | 12 | $12.2M | $682,500 |
How often do these acquisition loans fail?
Of the 164 SouthState Bank, National Association acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 3 have been charged off by the SBA, a rate of 1.8% by loan count and 1.0% by dollars. 92 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 SouthState Bank, National Association is 48% 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.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 96 | 35.0% | $103M | |
| 2 | Georgia | 56 | 20.4% | $63.7M | |
| 3 | Colorado | 30 | 10.9% | $24.7M | |
| 4 | Texas | 20 | 7.3% | $26.8M | |
| 5 | North Carolina | 13 | 4.7% | $8.1M | |
| 6 | South Carolina | 12 | 4.4% | $13.4M | |
| 7 | Virginia | 8 | 2.9% | $8.2M | |
| 8 | Alabama | 7 | 2.6% | $4.8M | |
| 9 | Massachusetts | 6 | 2.2% | $6.8M | |
| 10 | Tennessee | 4 | 1.5% | $9.9M | |
| 11 | Maryland | 4 | 1.5% | $3.7M | |
| 12 | Illinois | 4 | 1.5% | $3.3M | |
| 13 | California | 2 | 0.7% | $3.5M | |
| 14 | Ohio | 2 | 0.7% | $2M | |
| 15 | Louisiana | 2 | 0.7% | $1.5M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 19 | 6.9% | $15.8M | |
| 2 | Full-Service Restaurants | 14 | 5.1% | $10.8M | |
| 3 | Broilers and Other Meat Type Chicken Production | 13 | 4.7% | $18M | |
| 4 | Child Care Services | 10 | 3.6% | $16.1M | |
| 5 | General Automotive Repair | 10 | 3.6% | $8.8M | |
| 6 | Offices of Chiropractors | 8 | 2.9% | $4.6M | |
| 7 | Offices of Certified Public Accountants | 7 | 2.6% | $3.4M | |
| 8 | Beauty Salons | 6 | 2.2% | $4.7M | |
| 9 | Hardware Retailers | 5 | 1.8% | $8.6M | |
| 10 | Plumbing, Heating, and Air-Conditioning Contractors | 5 | 1.8% | $4M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Tropical Smoothie Cafe | 3 | 1.1% | $2.8M | |
| 2 | The Joint Chiropractic | 3 | 1.1% | $1.6M | |
| 3 | Firehouse Subs | 3 | 1.1% | $973K | |
| 4 | Ace Hardware | 2 | 0.7% | $3.6M | |
| 5 | Dairy Queen | 2 | 0.7% | $3.5M | |
| 6 | Smartstyle | 2 | 0.7% | $2.6M | |
| 7 | Papa Murphy's Take 'N' Bake Pizza | 2 | 0.7% | $1.1M | |
| 8 | Christian Brothers Automotive | 2 | 0.7% | $1M | |
| 9 | The UPS Store | 2 | 0.7% | $642K | |
| 10 | Sonic | 1 | 0.4% | $2.9M |
Questions buyers ask
Does SouthState Bank, National Association make SBA acquisition loans?
Yes. SouthState Bank, National Association approved 274 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 35 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 SouthState Bank, National Association's acquisition loans?
The median was $734,450, with the middle half between $442,500 and $1,402,500. The national median is $645,250, so this lender's typical loan is 14% higher than the national figure.
Which states does SouthState Bank, National Association lend in?
Florida (96), Georgia (56), Colorado (30), Texas (20), North Carolina (13), South Carolina (12). Its loans span at least 15 states.
Which industries does SouthState Bank, National Association finance?
Limited-Service Restaurants (19), Full-Service Restaurants (14), Broilers and Other Meat Type Chicken Production (13), Child Care Services (10), General Automotive Repair (10). The top industry is 7% of its acquisition loans.
How have SouthState Bank, National Association's acquisition loans performed?
Of 164 loans approved FY2018 to FY2021: 1.8% charged off, 48% 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
- Florida acquisitions
- Georgia acquisitions
- Colorado acquisitions
- Limited-Service Restaurants
- 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 SouthState Bank, National Association.