SBA Update

July 23, 2018

Investor activities were focused on DCPC fixed rate bonds and USDA fixed rate agricultural loans, which are trading at attractive yield spreads.  SBA activity also continues to be focused on floating rate equipment pools offered at par and premium pricing as yields on SBA floating rate pools have moved higher over the last two weeks.


Floating-Rate 7(a) Pools


Fixed-Rate (DCPC and SBIC) Pools





Government Guaranteed Loan Trading



SBA Prepayment Speeds

Mixed prepayment results left overall CPRs for SBA pools above their year-to-date average and also above the average since the October procedural changes. Real-estate pools slowed by a greater amount than equipment loans sped up, and for the first time in several months overall speeds for real-estate pools trailed equipment-loan pools.  For additional charts and SBA prepayment commentary, click on the link.




Dan Stimpson, CPA

Senior Vice President

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 © 2021
This is a publication of Vining-Sparks IBG, L.P.
775 Ridge Lake Blvd., Memphis, TN 38120