Third Coast Bank: SBA business acquisition lending record
Third Coast Bank (home state TX) approved 29 SBA 7(a) loans to buy existing businesses since FY2018, totaling $37.6M. The median loan was $926,000. It ranks number 260 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 $483,000 and $1,936,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Texas is the largest state (90% of loans). Loans appear in only 4 states, which points to a regional lender.
- Industry concentration. General Automotive Repair is 10% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 129 SBA 7(a) loans of any purpose since FY2020, totaling $123M. 83% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 10% 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.
Third Coast Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.3M | $1,314,000 | |
| FY2019 | 5 | $3.7M | $588,000 | |
| FY2020 | 8 | $10.4M | $836,000 | |
| FY2021 | 5 | $5.2M | $1,170,000 | |
| FY2022 | 6 | $7.5M | $919,000 | |
| FY2023 | 1 | $3.7M | $3,700,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 2 | $5.5M | $2,753,000 | |
| FY2026 | 1 | $316K | $316,000 |
How often do these acquisition loans fail?
Fewer than 20 Third Coast 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.
Seller note standby terms and third-party consents are reviewed before closing.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 26 | 89.7% | $30.3M | |
| 2 | Louisiana | 1 | 3.4% | $5M | |
| 3 | California | 1 | 3.4% | $1.9M | |
| 4 | Minnesota | 1 | 3.4% | $378K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | General Automotive Repair | 3 | 10.3% | $1.6M | |
| 2 | Industrial Machinery and Equipment Merchant Wholesalers | 2 | 6.9% | $5.9M | |
| 3 | Beer, Wine, and Liquor Retailers | 2 | 6.9% | $2.6M | |
| 4 | Clothing and Clothing Accessories Retailers | 2 | 6.9% | $1.7M | |
| 5 | Drycleaning and Laundry Services (except Coin-Operated) | 2 | 6.9% | $1.4M | |
| 6 | Fitness and Recreational Sports Centers | 2 | 6.9% | $616K | |
| 7 | Landscaping Services | 1 | 3.4% | $3.7M | |
| 8 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 1 | 3.4% | $2.9M | |
| 9 | Site Preparation Contractors | 1 | 3.4% | $2.6M | |
| 10 | Automotive Oil Change and Lubrication Shops | 1 | 3.4% | $2.5M |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Christian Brothers Automotive | 3 | 10.3% | $1.6M |
Questions buyers ask
Does Third Coast Bank make SBA acquisition loans?
Yes. Third Coast Bank approved 29 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 260 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 Third Coast Bank's acquisition loans?
The median was $926,000, with the middle half between $483,000 and $1,936,000. The national median is $645,250, so this lender's typical loan is 44% higher than the national figure.
Which states does Third Coast Bank lend in?
Texas (26), Louisiana (1), California (1), Minnesota (1). Its loans appear in 4 states, so it is closer to a regional lender.
Which industries does Third Coast Bank finance?
General Automotive Repair (3), Industrial Machinery and Equipment Merchant Wholesalers (2), Beer, Wine, and Liquor Retailers (2), Clothing and Clothing Accessories Retailers (2), Drycleaning and Laundry Services (except Coin-Operated) (2). The top industry is 10% of its acquisition loans.
How have Third Coast 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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- Texas acquisitions
- Louisiana acquisitions
- California acquisitions
- General Automotive Repair
- Industrial Machinery and Equipment Merchant Wholesalers
- Beer, Wine, and Liquor Retailers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Third Coast Bank.