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

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