Blockchain Registration Transaction Record

BayFirst Exits SBA Lending in $103M Deal with Banesco USA

BayFirst Financial exits SBA 7(a) lending business, selling $103M loan portfolio to Banesco USA. Strategic shift enhances both banks' market positions in small business lending.

This transaction represents a significant realignment in the small business lending landscape, particularly for SBA 7(a) loans that have been crucial for small business growth and expansion. For small business owners, the consolidation of SBA lending expertise at Banesco USA could mean more streamlined access to capital, while BayFirst's renewed focus on community banking may strengthen local financial services. The movement of experienced lending teams to Banesco USA ensures continuity in SBA loan servicing, which is critical for businesses relying on these government-backed loans for working capital, equipment purchases, and real estate acquisitions. This strategic shift reflects broader trends in banking where institutions are optimizing their portfolios to focus on core competencies while ensuring small businesses continue to have access to essential funding sources.