The Fidelity Bank: SBA business acquisition lending record
The Fidelity Bank (home state NC) approved 114 SBA 7(a) loans to buy existing businesses since FY2018, totaling $115M. The median loan was $887,250. It ranks number 88 of 280 lenders by count and made 0.2% 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 $349,250 and $1,384,750. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. North Carolina is the largest state (46% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Electrical Contractors and Other Wiring Installation Contractors is 9% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 262 SBA 7(a) loans of any purpose since FY2020, totaling $251M. 71% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 14% 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.
The Fidelity Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $2.4M | $2,425,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 6 | $4.8M | $314,500 | |
| FY2022 | 7 | $7.1M | $664,500 | |
| FY2023 | 5 | $4.6M | $760,000 | |
| FY2024 | 19 | $21.9M | $1,105,000 | |
| FY2025 | 28 | $31.3M | $937,500 | |
| FY2026 | 48 | $42.9M | $842,250 |
How often do these acquisition loans fail?
Fewer than 20 The Fidelity 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 | North Carolina | 52 | 45.6% | $50.1M | |
| 2 | Florida | 24 | 21.1% | $21M | |
| 3 | Texas | 5 | 4.4% | $5.5M | |
| 4 | South Carolina | 5 | 4.4% | $4.9M | |
| 5 | Illinois | 4 | 3.5% | $5.3M | |
| 6 | California | 3 | 2.6% | $1.6M | |
| 7 | Virginia | 2 | 1.8% | $3.7M | |
| 8 | Tennessee | 2 | 1.8% | $3.6M | |
| 9 | New York | 2 | 1.8% | $2.5M | |
| 10 | Idaho | 2 | 1.8% | $1.8M | |
| 11 | Washington | 2 | 1.8% | $1.4M | |
| 12 | Ohio | 2 | 1.8% | $1.1M | |
| 13 | Colorado | 1 | 0.9% | $3.8M | |
| 14 | Georgia | 1 | 0.9% | $2.5M | |
| 15 | Oklahoma | 1 | 0.9% | $1.3M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Electrical Contractors and Other Wiring Installation Contractors | 10 | 8.8% | $10.8M | |
| 2 | General Automotive Repair | 6 | 5.3% | $7.2M | |
| 3 | Limited-Service Restaurants | 6 | 5.3% | $5.1M | |
| 4 | Residential Remodelers | 5 | 4.4% | $7.8M | |
| 5 | Pet Care (except Veterinary) Services | 4 | 3.5% | $1.1M | |
| 6 | Hotels (except Casino Hotels) and Motels | 3 | 2.6% | $7.5M | |
| 7 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | 2.6% | $6M | |
| 8 | Janitorial Services | 3 | 2.6% | $1.8M | |
| 9 | Roofing Contractors | 3 | 2.6% | $1.8M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Super 8 | 2 | 1.8% | $4.9M | |
| 2 | AAMCO Transmissions and Total Car Care | 2 | 1.8% | $1M | |
| 3 | Red Roof Inn | 1 | 0.9% | $2.6M | |
| 4 | Do it Best | 1 | 0.9% | $1.4M | |
| 5 | Pirtek | 1 | 0.9% | $990K | |
| 6 | The UPS Store | 1 | 0.9% | $960K | |
| 7 | Mosquito Squad | 1 | 0.9% | $639K | |
| 8 | Midas | 1 | 0.9% | $600K | |
| 9 | 9Round | 1 | 0.9% | $202K |
Questions buyers ask
Does The Fidelity Bank make SBA acquisition loans?
Yes. The Fidelity Bank approved 114 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 88 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 The Fidelity Bank's acquisition loans?
The median was $887,250, with the middle half between $349,250 and $1,384,750. The national median is $645,250, so this lender's typical loan is 38% higher than the national figure.
Which states does The Fidelity Bank lend in?
North Carolina (52), Florida (24), Texas (5), South Carolina (5), Illinois (4), California (3). Its loans span at least 15 states.
Which industries does The Fidelity Bank finance?
Electrical Contractors and Other Wiring Installation Contractors (10), General Automotive Repair (6), Limited-Service Restaurants (6), Residential Remodelers (5), Pet Care (except Veterinary) Services (4). The top industry is 9% of its acquisition loans.
How have The Fidelity 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.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- North Carolina acquisitions
- Florida acquisitions
- Texas acquisitions
- Electrical Contractors and Other Wiring Installation Contractors
- General Automotive Repair
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by The Fidelity Bank.