UniBank: SBA business acquisition lending record
UniBank (home state WA) approved 79 SBA 7(a) loans to buy existing businesses since FY2018, totaling $119M. The median loan was $945,000. It ranks number 122 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 $394,500 and $2,225,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Washington is the largest state (85% of loans). Loans appear in only 7 states, which points to a regional lender.
- Industry concentration. Gasoline Stations with Convenience Stores is 34% of its acquisition loans. This is a specialist pattern.
- Overall 7(a) volume. 176 SBA 7(a) loans of any purpose since FY2020, totaling $178M. 100% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 44% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 1.5% charged off, 59% lower than the 3.5% national average.
UniBank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 20 | $28.6M | $1,552,500 | |
| FY2019 | 9 | $18.1M | $1,131,000 | |
| FY2020 | 24 | $30M | $701,500 | |
| FY2021 | 16 | $30.1M | $1,133,000 | |
| FY2022 | 10 | $12.7M | $486,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Of the 69 UniBank 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 1.5% by loan count and 0.4% by dollars. 49 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 UniBank is 59% 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 | Washington | 67 | 84.8% | $96M | |
| 2 | Oregon | 4 | 5.1% | $6.9M | |
| 3 | Idaho | 3 | 3.8% | $9.5M | |
| 4 | Texas | 2 | 2.5% | $4.3M | |
| 5 | Arizona | 1 | 1.3% | $1.6M | |
| 6 | West Virginia | 1 | 1.3% | $700K | |
| 7 | Georgia | 1 | 1.3% | $400K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 27 | 34.2% | $65.5M | |
| 2 | Full-Service Restaurants | 13 | 16.5% | $7.9M | |
| 3 | Limited-Service Restaurants | 13 | 16.5% | $4.3M | |
| 4 | Hotels (except Casino Hotels) and Motels | 9 | 11.4% | $26.4M | |
| 5 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 6 | 7.6% | $4.2M | |
| 6 | Machine Shops | 2 | 2.5% | $3.6M | |
| 7 | Convenience Retailers | 2 | 2.5% | $1.2M | |
| 8 | All Other Specialty Trade Contractors | 1 | 1.3% | $2.7M | |
| 9 | Drinking Places (Alcoholic Beverages) | 1 | 1.3% | $1.1M | |
| 10 | General Automotive Repair | 1 | 1.3% | $870K |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Chevron | 4 | 5.1% | $9.8M | |
| 2 | PacWest Energy (Shell) | 3 | 3.8% | $8.9M | |
| 3 | Wilson Oil | 3 | 3.8% | $6.7M | |
| 4 | Jackson Food Stores | 3 | 3.8% | $5.2M | |
| 5 | Sun Pacific Energy Inc | 2 | 2.5% | $7.8M | |
| 6 | World Fuel Services | 2 | 2.5% | $6.3M | |
| 7 | Christensen Inc. | 2 | 2.5% | $3.3M | |
| 8 | Phillips 66 | 2 | 2.5% | $3.2M | |
| 9 | Quality Inn | 1 | 1.3% | $5M | |
| 10 | Best Western | 1 | 1.3% | $4.4M |
Questions buyers ask
Does UniBank make SBA acquisition loans?
Yes. UniBank approved 79 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 122 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 UniBank's acquisition loans?
The median was $945,000, with the middle half between $394,500 and $2,225,000. The national median is $645,250, so this lender's typical loan is 46% higher than the national figure.
Which states does UniBank lend in?
Washington (67), Oregon (4), Idaho (3), Texas (2), Arizona (1), West Virginia (1). Its loans appear in 7 states, so it is closer to a regional lender.
Which industries does UniBank finance?
Gasoline Stations with Convenience Stores (27), Full-Service Restaurants (13), Limited-Service Restaurants (13), Hotels (except Casino Hotels) and Motels (9), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (6). The top industry is 34% of its acquisition loans.
How have UniBank's acquisition loans performed?
Of 69 loans approved FY2018 to FY2021: 1.5% charged off, 59% 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
- Washington acquisitions
- Oregon acquisitions
- Idaho acquisitions
- Gasoline Stations with Convenience Stores
- Full-Service Restaurants
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by UniBank.