TD Bank, National Association: SBA business acquisition lending record
TD Bank, National Association (home state DE) approved 154 SBA 7(a) loans to buy existing businesses since FY2018, totaling $136M. The median loan was $505,000. It ranks number 63 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 $136,500 and $1,320,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. New Jersey is the largest state (22% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Child Care Services is 8% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 15,463 SBA 7(a) loans of any purpose since FY2020, totaling $2.3B. 57% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 16% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 0.9% charged off, 73% lower than the 3.5% national average.
TD Bank, National Association acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 35 | $15.5M | $100,000 | |
| FY2019 | 29 | $24.3M | $585,000 | |
| FY2020 | 15 | $8.9M | $448,000 | |
| FY2021 | 26 | $21.8M | $613,500 | |
| FY2022 | 7 | $8.1M | $600,000 | |
| FY2023 | 10 | $14.3M | $794,250 | |
| FY2024 | 16 | $21M | $1,316,000 | |
| FY2025 | 11 | $14M | $1,135,000 | |
| FY2026 | 5 | $8.4M | $1,537,000 |
How often do these acquisition loans fail?
Of the 105 TD Bank, National Association 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 0.9% by loan count and 0.1% by dollars. 66 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 TD Bank, National Association is 73% 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 | New Jersey | 34 | 22.1% | $33.1M | |
| 2 | Florida | 31 | 20.1% | $24M | |
| 3 | New York | 17 | 11.0% | $17.3M | |
| 4 | Pennsylvania | 12 | 7.8% | $7.1M | |
| 5 | South Carolina | 11 | 7.1% | $11.8M | |
| 6 | New Hampshire | 10 | 6.5% | $8.3M | |
| 7 | Massachusetts | 10 | 6.5% | $4.2M | |
| 8 | Connecticut | 6 | 3.9% | $5.5M | |
| 9 | Georgia | 5 | 3.2% | $11.6M | |
| 10 | Maine | 5 | 3.2% | $5M | |
| 11 | North Carolina | 3 | 1.9% | $3.1M | |
| 12 | Virginia | 3 | 1.9% | $659K | |
| 13 | Vermont | 2 | 1.3% | $1.5M | |
| 14 | Delaware | 2 | 1.3% | $85K | |
| 15 | Rhode Island | 1 | 0.6% | $1.6M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Child Care Services | 12 | 7.8% | $18.2M | |
| 2 | Landscaping Services | 11 | 7.1% | $5.3M | |
| 3 | General Automotive Repair | 7 | 4.5% | $4.6M | |
| 4 | Limited-Service Restaurants | 6 | 3.9% | $5.5M | |
| 5 | Fitness and Recreational Sports Centers | 6 | 3.9% | $3.9M | |
| 6 | Full-Service Restaurants | 5 | 3.2% | $4.3M | |
| 7 | Offices of Certified Public Accountants | 5 | 3.2% | $1.4M | |
| 8 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 4 | 2.6% | $5M | |
| 9 | Beer, Wine, and Liquor Retailers | 3 | 1.9% | $5.2M | |
| 10 | Engineering Services | 3 | 1.9% | $3.8M |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Goddard School | 4 | 2.6% | $9.5M | |
| 2 | Do it Best | 2 | 1.3% | $1.2M | |
| 3 | Signs by Tomorrow | 2 | 1.3% | $660K | |
| 4 | Philly Pretzel Factory | 2 | 1.3% | $180K | |
| 5 | Maaco | 1 | 0.6% | $3.4M | |
| 6 | Primrose Schools | 1 | 0.6% | $2.7M | |
| 7 | Retrofitness | 1 | 0.6% | $2M | |
| 8 | Tide Cleaners | 1 | 0.6% | $1.8M | |
| 9 | Carpet One Floor & Home | 1 | 0.6% | $1.4M | |
| 10 | Pet Supplies Plus | 1 | 0.6% | $1.4M |
Questions buyers ask
Does TD Bank, National Association make SBA acquisition loans?
Yes. TD Bank, National Association approved 154 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 63 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 TD Bank, National Association's acquisition loans?
The median was $505,000, with the middle half between $136,500 and $1,320,500. The national median is $645,250, so this lender's typical loan is 22% lower than the national figure.
Which states does TD Bank, National Association lend in?
New Jersey (34), Florida (31), New York (17), Pennsylvania (12), South Carolina (11), New Hampshire (10). Its loans span at least 15 states.
Which industries does TD Bank, National Association finance?
Child Care Services (12), Landscaping Services (11), General Automotive Repair (7), Limited-Service Restaurants (6), Fitness and Recreational Sports Centers (6). The top industry is 8% of its acquisition loans.
How have TD Bank, National Association's acquisition loans performed?
Of 105 loans approved FY2018 to FY2021: 0.9% charged off, 73% lower than 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.
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Related
- New Jersey acquisitions
- Florida acquisitions
- New York acquisitions
- Child Care Services
- Landscaping Services
- General Automotive Repair
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by TD Bank, National Association.