SBA loans in U.S. Virgin Islands: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 12 7(a) loans to buy an existing business in U.S. Virgin Islands, totaling $11.2M. The median loan was $1,029,000, 59% higher than the $645,250 national median for SBA-financed acquisitions.
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SBA lenders in U.S. Virgin Islands
The lenders that made the most SBA 7(a) acquisition loans in U.S. Virgin Islands, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Merchants Commercial Bank | 3 | 25.0% | $2.1M | |
| 2 | Byline Bank | 2 | 16.7% | $2.3M | |
| 3 | Banco Popular de Puerto Rico | 2 | 16.7% | $160K | |
| 4 | FDIC - Community Bank & Trust-West Georgia | 1 | 8.3% | $2.2M | |
| 5 | Touchmark National Bank | 1 | 8.3% | $1.5M | |
| 6 | First Financial Bank | 1 | 8.3% | $1.3M | |
| 7 | HomeTrust Bank | 1 | 8.3% | $1M | |
| 8 | Cogent Bank | 1 | 8.3% | $717K |
What this tells a buyer
- Deal size band. Half of U.S. Virgin Islands acquisition loans fell between $500,000 and $1,183,250. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. U.S. Virgin Islands accounts for 0.0% of all SBA acquisition loans and ranks number 53 of 54 states and territories by count.
- Industry concentration. Offices of Dentists is the most financed business type here (2 loans, 17% of the state). The top three industries together are 33%.
- Lender concentration. Merchants Commercial Bank made 25% of the state's acquisition loans. A single lender carries a large part of the market, so it is worth knowing what it prefers to finance.
U.S. Virgin Islands acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $1.5M | $1,525,000 | |
| FY2020 | 3 | $2.4M | $1,140,000 | |
| FY2021 | 1 | $40K | $40,000 | |
| FY2022 | 2 | $2M | $1,015,000 | |
| FY2023 | 2 | $1M | $500,000 | |
| FY2024 | 2 | $3.2M | $1,585,500 | |
| FY2025 | 1 | $1.1M | $1,058,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 U.S. Virgin Islands acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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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Top industries in U.S. Virgin Islands
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Offices of Dentists | 2 | 16.7% | $2.3M | |
| 2 | Hotels (except Casino Hotels) and Motels | 1 | 8.3% | $2.2M | |
| 3 | Jewelry Retailers | 1 | 8.3% | $1.5M | |
| 4 | Veterinary Services | 1 | 8.3% | $1.3M | |
| 5 | Drinking Places (Alcoholic Beverages) | 1 | 8.3% | $1.1M | |
| 6 | Other Computer Related Services | 1 | 8.3% | $1M | |
| 7 | All Other General Merchandise Retailers | 1 | 8.3% | $500K | |
| 8 | All Other Amusement and Recreation Industries | 1 | 8.3% | $500K | |
| 9 | Full-Service Restaurants | 1 | 8.3% | $120K | |
| 10 | Fitness and Recreational Sports Centers | 1 | 8.3% | $40K |
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Questions buyers ask
How much do buyers borrow to buy a business in U.S. Virgin Islands?
The median SBA 7(a) acquisition loan in U.S. Virgin Islands was $1,029,000 across 12 loans (FY2018 to FY2026), 59% higher than the $645,250 national median. The middle half of loans ran from $500,000 to $1,183,250. A loan is not the purchase price: it is net of the buyer's equity injection and usually includes some working capital.
Which banks make the most SBA acquisition loans in U.S. Virgin Islands?
Merchants Commercial Bank (3), Byline Bank (2), Banco Popular de Puerto Rico (2), FDIC - Community Bank & Trust-West Georgia (1), Touchmark National Bank (1). Merchants Commercial Bank alone accounts for 25% of U.S. Virgin Islands acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in U.S. Virgin Islands?
Offices of Dentists (2), Hotels (except Casino Hotels) and Motels (1), Jewelry Retailers (1), Veterinary Services (1), Drinking Places (Alcoholic Beverages) (1). The top three industries make up 33% of the state's acquisition loans.
How often do SBA acquisition loans fail in U.S. Virgin Islands?
Fewer than 20 U.S. Virgin Islands acquisition loans are old enough to measure reliably. The national benchmark is 3.5% charged off for the FY2018 to FY2021 cohort.
How does U.S. Virgin Islands compare with other states?
U.S. Virgin Islands ranks number 53 of 54 states and territories by acquisition loan count, with 0.0% of national volume (12 of 48,902 loans) and $11.2M approved. Browse the full state ranking.
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Related
- Offices of Dentists nationally
- Hotels (except Casino Hotels) and Motels nationally
- Jewelry Retailers nationally
- Byline Bank
- FDIC - Community Bank & Trust-West Georgia
- Touchmark National Bank
- All states
- Buyer's guide to the data
State is the project state recorded by the lender (where the acquired business operates), not the borrower's mailing state.