Summit Bank: SBA business acquisition lending record
Summit Bank (home state OR) approved 33 SBA 7(a) loans to buy existing businesses since FY2018, totaling $37.6M. The median loan was $732,200. It ranks number 236 of 280 lenders by count and made 0.1% 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 $288,200 and $1,379,300. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Oregon is the largest state (88% of loans). Loans appear in only 3 states, which points to a regional lender.
- Industry concentration. All Other Personal Services is 6% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 86 SBA 7(a) loans of any purpose since FY2020, totaling $94.5M. 27% 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. Too few of its loans are old enough to measure a charge-off rate.
Summit Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 6 | $3.3M | $343,050 | |
| FY2019 | 5 | $3.5M | $288,200 | |
| FY2020 | 2 | $618K | $309,100 | |
| FY2021 | 6 | $9.5M | $1,040,400 | |
| FY2022 | 3 | $3.4M | $950,000 | |
| FY2023 | 5 | $13.2M | $2,773,600 | |
| FY2024 | 2 | $1.5M | $771,150 | |
| FY2025 | 4 | $2.5M | $565,900 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Summit Bank acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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 | Oregon | 29 | 87.9% | $32.9M | |
| 2 | Wisconsin | 3 | 9.1% | $3.6M | |
| 3 | California | 1 | 3.0% | $1.1M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | All Other Personal Services | 2 | 6.1% | $4.7M | |
| 2 | Other Miscellaneous Durable Goods Merchant Wholesalers | 2 | 6.1% | $2M | |
| 3 | Janitorial Services | 2 | 6.1% | $996K | |
| 4 | Administrative Management and General Management Consulting Services | 1 | 3.0% | $5M | |
| 5 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 1 | 3.0% | $3M | |
| 6 | Drugs and Druggists' Sundries Merchant Wholesalers | 1 | 3.0% | $2.8M | |
| 7 | Full-Service Restaurants | 1 | 3.0% | $1.7M | |
| 8 | Graphic Design Services | 1 | 3.0% | $1.4M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Budget Blinds | 1 | 3.0% | $489K | |
| 2 | Woodcraft | 1 | 3.0% | $118K |
Questions buyers ask
Does Summit Bank make SBA acquisition loans?
Yes. Summit Bank approved 33 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 236 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 Summit Bank's acquisition loans?
The median was $732,200, with the middle half between $288,200 and $1,379,300. The national median is $645,250, so this lender's typical loan is 13% higher than the national figure.
Which states does Summit Bank lend in?
Oregon (29), Wisconsin (3), California (1). Its loans appear in 3 states, so it is closer to a regional lender.
Which industries does Summit Bank finance?
All Other Personal Services (2), Other Miscellaneous Durable Goods Merchant Wholesalers (2), Janitorial Services (2), Administrative Management and General Management Consulting Services (1), All Other Miscellaneous Fabricated Metal Product Manufacturing (1). The top industry is 6% of its acquisition loans.
How have Summit Bank's acquisition loans performed?
Fewer than 20 of this lender's loans are old enough to measure. The national benchmark is 3.5% for the FY2018 to FY2021 cohort.
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Related
- Oregon acquisitions
- Wisconsin acquisitions
- California acquisitions
- All Other Personal Services
- Other Miscellaneous Durable Goods Merchant Wholesalers
- Janitorial Services
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Summit Bank.