WBD, Inc.: SBA Lending Record

WBD, Inc. as a 504 lender of record

SBA files WBD, Inc., a certified development company, under WI. Its record covers 2,055 loans and $1.82 billion in gross approvals, the FY2017 to FY2026 window, and every loan is SBA 504, with no SBA 7(a) loans. The development company is the lender of record on a 504 loan, and the first-lien lender behind the same project is entered as free text and is credited to nobody. The figures here are SBA's records of loans WBD, Inc. holds or held, and SBA provides the guarantee on all 2,055 loans.

Wisconsin first, Minnesota second

Wisconsin accounts for 1,902 loans, Minnesota for 139 and Michigan for 5. Of the 2,055 loans, 1,274 have no named class. The named ones start with full-service restaurants at 122, hotels and motels at 84 and self storage at 71, then automotive repair at 54 and limited-service restaurants at 50.

Cancelled approvals and charge-offs at WBD

Of FY2017 to FY2024 approvals, 9.3% cancelled for sure; 11.5% with undisbursed loans added. The FY2017 through FY2021 cohort has 944 loans. 0.53% is its charge-off floor so far. No charge-off rate at five years is printed for WBD, Inc. by Loan Analytics' own rule, since too few loans support it; a blank is never read as zero. Loans stay open at WBD, Inc., so both rates may climb.

A study for a 504 project

A hotel or motel project, with 84 loans in this file, needs a study that shows occupancy, average rate, cost per room, franchise terms and a renovation reserve, along with a slower year. A self storage project, with 71 loans, has to test unit mix, lease-up pace and stabilised occupancy against the land and construction cost. Because a 504 loan sits beside a separate first-lien loan, the study has to show how both are serviced. Most of the book, 1,274 loans, is unclassified, so a different property type should expect to lean on its own evidence and a defensible appraisal.

Limits of the record

The file is 2,055 loans and $1.82 billion, all in the 504 program, with 1,902 loans in Wisconsin. The 0.53% charge-off floor rests on 944 loans still open, and the five-year rate is suppressed. Class detail covers a minority, as 1,274 loans sit outside the named classes. Treat the page as a view of this company's 504 holdings; it cannot settle questions about their own project.