Waukesha State Bank: SBA business acquisition lending record
Waukesha State Bank (home state WI) approved 53 SBA 7(a) loans to buy existing businesses since FY2018, totaling $40.2M. The median loan was $540,000. It ranks number 167 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 $255,000 and $1,200,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Wisconsin is the largest state (94% of loans). Loans appear in only 4 states, which points to a regional lender.
- Industry concentration. Gasoline Stations with Convenience Stores is 11% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 169 SBA 7(a) loans of any purpose since FY2020, totaling $107M. 91% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 25% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 8.3% charged off, 137% higher than the 3.5% national average.
Waukesha State Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $1.4M | $237,000 | |
| FY2019 | 11 | $5.8M | $440,000 | |
| FY2020 | 9 | $6.4M | $518,000 | |
| FY2021 | 11 | $10.4M | $1,000,000 | |
| FY2022 | 5 | $5.6M | $1,360,000 | |
| FY2023 | 2 | $665K | $332,550 | |
| FY2024 | 1 | $255K | $255,000 | |
| FY2025 | 4 | $3.3M | $879,000 | |
| FY2026 | 5 | $6.4M | $900,000 |
How often do these acquisition loans fail?
Of the 36 Waukesha State Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 3 have been charged off by the SBA, a rate of 8.3% by loan count and 3.6% by dollars. 17 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 Waukesha State Bank is 137% higher 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
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 6 | 11.3% | $7.5M | |
| 2 | Pet Care (except Veterinary) Services | 5 | 9.4% | $944K | |
| 3 | Limited-Service Restaurants | 4 | 7.5% | $2.4M | |
| 4 | Plumbing, Heating, and Air-Conditioning Contractors | 2 | 3.8% | $4M | |
| 5 | Funeral Homes and Funeral Services | 2 | 3.8% | $3.9M | |
| 6 | Child Care Services | 2 | 3.8% | $2.4M | |
| 7 | Tax Preparation Services | 2 | 3.8% | $1.1M | |
| 8 | Full-Service Restaurants | 2 | 3.8% | $324K | |
| 9 | Floor Covering Retailers | 1 | 1.9% | $1.6M | |
| 10 | Engineering Services | 1 | 1.9% | $1.4M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Central Bark Doggy Day Care | 4 | 7.5% | $875K | |
| 2 | World Fuel Services | 2 | 3.8% | $2.3M | |
| 3 | Piggly Wiggly | 1 | 1.9% | $532K | |
| 4 | Mr. Appliance | 1 | 1.9% | $458K | |
| 5 | The Brass Tap Craft Beer Bar | 1 | 1.9% | $435K |
Questions buyers ask
Does Waukesha State Bank make SBA acquisition loans?
Yes. Waukesha State Bank approved 53 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 167 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 Waukesha State Bank's acquisition loans?
The median was $540,000, with the middle half between $255,000 and $1,200,000. The national median is $645,250, so this lender's typical loan is 16% lower than the national figure.
Which states does Waukesha State Bank lend in?
Wisconsin (50), Utah (1), Florida (1), Illinois (1). Its loans appear in 4 states, so it is closer to a regional lender.
Which industries does Waukesha State Bank finance?
Gasoline Stations with Convenience Stores (6), Pet Care (except Veterinary) Services (5), Limited-Service Restaurants (4), Plumbing, Heating, and Air-Conditioning Contractors (2), Funeral Homes and Funeral Services (2). The top industry is 11% of its acquisition loans.
How have Waukesha State Bank's acquisition loans performed?
Of 36 loans approved FY2018 to FY2021: 8.3% charged off, 137% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Wisconsin acquisitions
- Utah acquisitions
- Florida acquisitions
- Gasoline Stations with Convenience Stores
- Pet Care (except Veterinary) Services
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Waukesha State Bank.