Washington Trust Bank: SBA business acquisition lending record
Washington Trust Bank (home state WA) approved 79 SBA 7(a) loans to buy existing businesses since FY2018, totaling $55.4M. The median loan was $488,700. It ranks number 123 of 280 lenders by count and made 0.2% of all SBA acquisition loans nationally.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $217,000 and $942,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Washington is the largest state (65% of loans). Loans appear in only 3 states, which points to a regional lender.
- Industry concentration. Full-Service Restaurants is 9% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 449 SBA 7(a) loans of any purpose since FY2020, totaling $243M. 84% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 15% 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.
Washington Trust Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 8 | $3.2M | $257,250 | |
| FY2019 | 13 | $5.7M | $289,000 | |
| FY2020 | 10 | $3.7M | $240,000 | |
| FY2021 | 10 | $9.1M | $771,000 | |
| FY2022 | 6 | $2.8M | $398,500 | |
| FY2023 | 3 | $905K | $265,000 | |
| FY2024 | 9 | $8.2M | $488,700 | |
| FY2025 | 10 | $9.3M | $747,500 | |
| FY2026 | 10 | $12.5M | $1,007,500 |
How often do these acquisition loans fail?
Of the 41 Washington Trust 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. 19 have already been paid in full.
For comparison, Washington Trust 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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Washington | 51 | 64.6% | $37.3M | |
| 2 | Idaho | 24 | 30.4% | $15.3M | |
| 3 | Oregon | 4 | 5.1% | $2.8M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 7 | 8.9% | $4.9M | |
| 2 | Limited-Service Restaurants | 5 | 6.3% | $5.7M | |
| 3 | Landscaping Services | 3 | 3.8% | $2.5M | |
| 4 | Fitness and Recreational Sports Centers | 3 | 3.8% | $2.1M | |
| 5 | Automotive Body, Paint, and Interior Repair and Maintenance | 3 | 3.8% | $1.2M | |
| 6 | Plumbing, Heating, and Air-Conditioning Contractors | 3 | 3.8% | $952K | |
| 7 | Boat Dealers | 2 | 2.5% | $2.6M | |
| 8 | Engineering Services | 2 | 2.5% | $2.2M | |
| 9 | Finish Carpentry Contractors | 2 | 2.5% | $2.2M | |
| 10 | Glass and Glazing Contractors | 2 | 2.5% | $700K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Papa Murphy's Take 'N' Bake Pizza | 2 | 2.5% | $3.7M | |
| 2 | Orange Theory Fitness | 1 | 1.3% | $1.5M | |
| 3 | The Cleaning Authority | 1 | 1.3% | $1.1M | |
| 4 | Denny's | 1 | 1.3% | $1M | |
| 5 | Maaco | 1 | 1.3% | $862K | |
| 6 | Jimmy John's | 1 | 1.3% | $680K | |
| 7 | Do it Best | 1 | 1.3% | $230K |
Questions buyers ask
Does Washington Trust Bank make SBA acquisition loans?
Yes. Washington Trust Bank approved 79 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 123 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 Washington Trust Bank's acquisition loans?
The median was $488,700, with the middle half between $217,000 and $942,000. The national median is $645,250, so this lender's typical loan is 24% lower than the national figure.
Which states does Washington Trust Bank lend in?
Washington (51), Idaho (24), Oregon (4). Its loans appear in 3 states, so it is closer to a regional lender.
Which industries does Washington Trust Bank finance?
Full-Service Restaurants (7), Limited-Service Restaurants (5), Landscaping Services (3), Fitness and Recreational Sports Centers (3), Automotive Body, Paint, and Interior Repair and Maintenance (3). The top industry is 9% of its acquisition loans.
How have Washington Trust Bank's acquisition loans performed?
Of 41 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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Washington acquisitions
- Idaho acquisitions
- Oregon acquisitions
- Full-Service Restaurants
- Limited-Service Restaurants
- Landscaping Services
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Washington Trust Bank.