Seacoast National Bank: SBA Lending Record

Seacoast National Bank: 1,067 loans on the SBA books

Seacoast National Bank appears in the SBA file against 1,067 loans approved from FY2017 through FY2026, adding up to $604.6 million in gross dollars. The 7(a) program holds all 1,067 of them, while the 504 column reads 0. What follows is a list of holdings as SBA keeps them, not an account of how any one loan was made or of the standards behind it.

Classes: restaurants and repair shops

775 loans carry no asset class. Limited-service restaurant heads the classed loans with 57, followed by full-service restaurant with 44 and, at 42, the car and truck mechanical repair class. Fitness center has 22, and the health practices follow: medical office (physicians) at 21 and dental office at 15. For a restaurant or repair project, the useful questions lie beyond the file: what sales per location the market supports, what the build-out costs and how many months of ramp-up pass before income meets the payment. A health practice asks a parallel set about patient volume, equipment and lease terms.

A Florida-heavy state list

Florida stands at 564 loans, far above California at 77 and Texas at 61. New York has 27, Colorado 26, Georgia 25 and Illinois 21. The pattern is plain from the counts alone: most of the file sits in a single state, with a long tail elsewhere. A Florida borrower will find a deep record, and a borrower elsewhere a shallow one, though neither tells the study what the local market will bear.

Cancellation and charge-off figures

Cancellation after approval stands at 7.1% for FY2017 to FY2024 approvals, a floor; Loan Analytics withholds the ceiling by its own rule and so none is printed. In the cohort of 775 loans disbursed in FY2017 to FY2021, 14.3% have since turned into charge-offs (a floor), and 6.6% were there inside five years after approval. The charge-off floor is the larger of the two measures here, and they describe different events: loans that never disbursed against loans that disbursed and later failed. Both pool every trade and neither is a forecast for a fresh project.

Context, not a decision

Treat this holder's record as context for choosing whom to approach. Underneath any request sits the project itself: its demand, its cost, its debt service coverage when revenue falls short and its appraised value. A feasibility study documents each of those. The counts above never state what the bank will decide, and they should not be read as if they did.