Heritage Bank Inc: SBA Lending Record

Heritage Bank Inc: what the SBA file shows

SBA lists Heritage Bank Inc as present or last holder of 644 loans approved across FY2017 to FY2026, for gross dollars of $338.8 million. All 644 are 7(a) and 0 are 504. This page reports the file as given and makes no claim about how the bank lends, which no figure here could support.

Classes in the file

468 loans belong to no asset class. Of the classed ones, 40 are full-service restaurant and 23 limited-service restaurant. Automotive mechanical repair (car and truck) and coffee shop and snack bar each have 16, dental office has 15 and medical office (physicians) 12. The classed counts are small, which makes them a weak guide to anything beyond presence. A dental or medical practice study would test patient volume, equipment cost and the lease, and a restaurant study the sales that the seats and the location can support.

A wide spread of states

California has 68 loans, Florida 67 and Texas 53. New York has 46, Ohio 36, Kentucky 31 and Illinois 29. No state dominates, and the list is long. A borrower in almost any large state might find a handful of loans in the file, and finding them proves little about a given county.

No loss rates are printed

This page prints no cancellation rate. It prints no charge-off rate either. Loan Analytics holds the cancellation figures back under its own rule. The charge-off rate is not reported because fewer than 30 loans were disbursed in FY2017 to FY2021, too few for a stable rate. Neither absence means zero, and a reader should not guess a number to fill the gap. A borrower who wants a view of outcomes should look at lenders whose pages do carry rates, and weigh how many loans stand behind each.

What to do with this

Because loss figures cannot be shown, this record helps little in judging outcomes. It is useful for seeing the property types and states in the holder's file. In the end the project argues for itself through its study, which sets out demand, cost, a payment-coverage test under pressure and the appraisal. A credit reader weighs those pieces whichever lender is approached.