Who’s lending to business buyers right now?
The top 10 banks made 49% of the $2m+ SBA loans for business acquisitions in the past year. Who they are (and how they're trending):
1. Live Oak has historically been the 800-lb gorilla and clear leader, but they've pulled back meaningfully over the last year
2. Huntington has surged into a near-tie for the top spot. We've closed multiple deals with Huntington and been impressed.
3. First Internet Bank is #3, and growing
4. Pathward and Byline Bank round out the top 5
All these stats are for $2m+ loans, without real estate.
The median interest rate is Prime (currently 7%) + 2% = 9% total
But there’s a surprising amount of variation and negotiation possible here. We are huge fans of working with someone like @redacted (Pioneer Capital Advisory) to get multiple options and leverage long-standing relationships.
Anyone had particularly good (or otherwise) experiences with particular banks recently?redactedredactedredactedredacted