Wilmington Savings Fund Society FSB: SBA business acquisition lending record
Wilmington Savings Fund Society FSB (home state DE) approved 163 SBA 7(a) loans to buy existing businesses since FY2018, totaling $184M. The median loan was $700,000. It ranks number 60 of 280 lenders by count and made 0.3% 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 $335,800 and $1,555,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Pennsylvania is the largest state (48% of loans). Loans appear in only 11 states, which points to a regional lender.
- Industry concentration. Full-Service Restaurants is 10% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 844 SBA 7(a) loans of any purpose since FY2020, totaling $675M. 87% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 18% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 5.6% charged off, 60% higher than the 3.5% national average.
Wilmington Savings Fund Society FSB acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 12 | $21.8M | $1,623,000 | |
| FY2019 | 23 | $23.1M | $607,500 | |
| FY2020 | 17 | $23.9M | $780,500 | |
| FY2021 | 19 | $22.5M | $535,000 | |
| FY2022 | 12 | $10.6M | $566,500 | |
| FY2023 | 7 | $7.1M | $700,000 | |
| FY2024 | 11 | $9.2M | $685,000 | |
| FY2025 | 26 | $29.7M | $710,100 | |
| FY2026 | 36 | $36.2M | $730,000 |
How often do these acquisition loans fail?
Of the 71 Wilmington Savings Fund Society FSB acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 4 have been charged off by the SBA, a rate of 5.6% by loan count and 2.0% by dollars. 40 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 Wilmington Savings Fund Society FSB is 60% 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
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Pennsylvania | 78 | 47.9% | $92.6M | |
| 2 | New Jersey | 41 | 25.2% | $39.4M | |
| 3 | Maryland | 15 | 9.2% | $13.4M | |
| 4 | Delaware | 13 | 8.0% | $17.5M | |
| 5 | Virginia | 7 | 4.3% | $4.3M | |
| 6 | District of Columbia | 3 | 1.8% | $1.6M | |
| 7 | California | 2 | 1.2% | $1.5M | |
| 8 | New York | 1 | 0.6% | $5M | |
| 9 | Illinois | 1 | 0.6% | $3M | |
| 10 | Wisconsin | 1 | 0.6% | $2.8M | |
| 11 | North Carolina | 1 | 0.6% | $2.7M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 17 | 10.4% | $14.9M | |
| 2 | Child Care Services | 11 | 6.7% | $15.8M | |
| 3 | Beer, Wine, and Liquor Retailers | 11 | 6.7% | $14.3M | |
| 4 | Limited-Service Restaurants | 10 | 6.1% | $4.4M | |
| 5 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 5 | 3.1% | $5.3M | |
| 6 | Landscaping Services | 4 | 2.5% | $5M | |
| 7 | All Other Specialty Trade Contractors | 4 | 2.5% | $3.5M | |
| 8 | Convenience Retailers | 4 | 2.5% | $2.8M | |
| 9 | Funeral Homes and Funeral Services | 3 | 1.8% | $4.5M |
Seller note standby terms and third-party consents are reviewed before closing.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Urban Air Adventure Park | 3 | 1.8% | $7.3M | |
| 2 | Kiddie Academy | 2 | 1.2% | $3.6M | |
| 3 | Paul Davis Restoration | 1 | 0.6% | $5M | |
| 4 | Amada Senior Care | 1 | 0.6% | $2.8M | |
| 5 | Homewatch CareGivers | 1 | 0.6% | $2.2M | |
| 6 | Sky Zone | 1 | 0.6% | $1.8M | |
| 7 | Dunkin' | 1 | 0.6% | $1.5M | |
| 8 | Two Men and a Truck | 1 | 0.6% | $570K | |
| 9 | CertaPro Painters | 1 | 0.6% | $500K | |
| 10 | Budget Blinds | 1 | 0.6% | $454K |
Questions buyers ask
Does Wilmington Savings Fund Society FSB make SBA acquisition loans?
Yes. Wilmington Savings Fund Society FSB approved 163 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 60 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 Wilmington Savings Fund Society FSB's acquisition loans?
The median was $700,000, with the middle half between $335,800 and $1,555,000. The national median is $645,250, so this lender's typical loan is 8% higher than the national figure.
Which states does Wilmington Savings Fund Society FSB lend in?
Pennsylvania (78), New Jersey (41), Maryland (15), Delaware (13), Virginia (7), District of Columbia (3). Its loans appear in 11 states, so it is closer to a regional lender.
Which industries does Wilmington Savings Fund Society FSB finance?
Full-Service Restaurants (17), Child Care Services (11), Beer, Wine, and Liquor Retailers (11), Limited-Service Restaurants (10), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (5). The top industry is 10% of its acquisition loans.
How have Wilmington Savings Fund Society FSB's acquisition loans performed?
Of 71 loans approved FY2018 to FY2021: 5.6% charged off, 60% higher 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
- Pennsylvania acquisitions
- New Jersey acquisitions
- Maryland acquisitions
- Full-Service Restaurants
- Child Care Services
- Beer, Wine, and Liquor Retailers
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Wilmington Savings Fund Society FSB.