United Prairie Bank: SBA business acquisition lending record
United Prairie Bank (home state MN) approved 34 SBA 7(a) loans to buy existing businesses since FY2018, totaling $16.6M. The median loan was $344,500. It ranks number 231 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
The purchase agreement decides what you bought, not the loan approval.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $165,500 and $785,625. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Minnesota is the largest state (94% of loans). Loans appear in only 3 states, which points to a regional lender.
- Industry concentration. Gasoline Stations with Convenience Stores is 21% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 98 SBA 7(a) loans of any purpose since FY2020, totaling $37.7M. 76% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 21% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: none charged off, against the 3.5% national average.
United Prairie Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $2.6M | $1,000,000 | |
| FY2019 | 2 | $1.3M | $637,500 | |
| FY2020 | 6 | $2M | $182,500 | |
| FY2021 | 19 | $6.2M | $250,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $2M | $2,000,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 3 | $2.5M | $950,200 |
How often do these acquisition loans fail?
Of the 30 United Prairie Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 21 have already been paid in full.
For comparison, United Prairie Bank has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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.
Terms signed in the LOI shape the purchase agreement that follows.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Minnesota | 32 | 94.1% | $14.2M | |
| 2 | Mississippi | 1 | 2.9% | $2M | |
| 3 | South Dakota | 1 | 2.9% | $360K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 7 | 20.6% | $2.1M | |
| 2 | Beer, Wine, and Liquor Retailers | 5 | 14.7% | $2.2M | |
| 3 | Floor Covering Retailers | 3 | 8.8% | $2.6M | |
| 4 | Nursery, Garden Center, and Farm Supply Retailers | 3 | 8.8% | $710K | |
| 5 | Sporting Goods Retailers | 2 | 5.9% | $1.5M | |
| 6 | All Other Automotive Repair and Maintenance | 2 | 5.9% | $933K | |
| 7 | Glass and Glazing Contractors | 2 | 5.9% | $250K | |
| 8 | Engineering Services | 1 | 2.9% | $2M | |
| 9 | All Other Personal Services | 1 | 2.9% | $1.1M | |
| 10 | General Freight Trucking, Long-Distance, Truckload | 1 | 2.9% | $950K |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Arco (BP) | 4 | 11.8% | $1.8M | |
| 2 | Great Clips | 1 | 2.9% | $250K |
Questions buyers ask
Does United Prairie Bank make SBA acquisition loans?
Yes. United Prairie Bank approved 34 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 231 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 United Prairie Bank's acquisition loans?
The median was $344,500, with the middle half between $165,500 and $785,625. The national median is $645,250, so this lender's typical loan is 47% lower than the national figure.
Which states does United Prairie Bank lend in?
Minnesota (32), Mississippi (1), South Dakota (1). Its loans appear in 3 states, so it is closer to a regional lender.
Which industries does United Prairie Bank finance?
Gasoline Stations with Convenience Stores (7), Beer, Wine, and Liquor Retailers (5), Floor Covering Retailers (3), Nursery, Garden Center, and Farm Supply Retailers (3), Sporting Goods Retailers (2). The top industry is 21% of its acquisition loans.
How have United Prairie Bank's acquisition loans performed?
Of 30 loans approved FY2018 to FY2021: none charged off, against the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
The purchase agreement decides what you bought, not the loan approval.
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Related
- Minnesota acquisitions
- Mississippi acquisitions
- South Dakota acquisitions
- Gasoline Stations with Convenience Stores
- Beer, Wine, and Liquor Retailers
- Floor Covering Retailers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by United Prairie Bank.