SBA Prepay Commentary

April SBA Prepayment Speeds

April 2019


In total, Equipment and Real-Estate SBA 7(a) pools paid at faster speeds than in the prior month. CPRs for the Equipment pool population broadly increased from 14.5 to 18.8. Real-Estate speeds came in 1 CPR faster at 16.6 CPR after they were virtually flat last month. As has been the case lately, depending on the Real-Estate vintage, the story can vary. I don’t want to miss the forest for the trees though so I’ve also included a history of the rolling six-month average of Equipment and Real-Estate pools below. Even though it reversed this month, the overall trend since peaking last November has been a slowdown in CPRs for both Equipment and Real-Estate pools.



Equipment Loan Pools



Real-Estate Loan Pools



SBA Prepayment Tables (Click for Details)

Prepared according to methodologies described by SIFMA.

Kevin A. Smith, CFA

SVP, Director Investment Product Strategies

Vining Sparks

Adam Hofer

Analyst, Investment Product Strategies

Vining Sparks

The information included herein has been obtained from sources deemed reliable, but it is not in any way guaranteed, and it, together with any opinions expressed, is subject to change at any time. Any and all details offered in this publication are preliminary and are therefore subject to change at any time. This has been prepared for general information purposes only and does not consider the specific investment objectives, financial situation and particular needs of any individual or institution. This information is, by its very nature, incomplete and specifically lacks information critical to making final investment decisions. Investors should seek financial advice as to the appropriateness of investing in any securities or investment strategies mentioned or recommended. The accuracy of the financial projections is dependent on the occurrence of future events which cannot be assured; therefore, the actual results achieved during the projection period may vary from the projections. The firm may have positions, long or short, in any or all securities mentioned. Member FINRA/SIPC.
Copyright © 2023
This is a publication of Vining-Sparks IBG, LLC
775 Ridge Lake Blvd., Memphis, TN 38120