SBA Update

October 2, 2017

Portfolio managers continued adding both floating-rate and fixed-rate SBAs to their portfolios last week.  Floating-rate additions were mostly new issue equipment-backed pools, although seasoned real-estate pools were also in the mix.  Also, the semi-annual SBIC issuance continues to trade well as some investors continue to look for fixed-rate allocations to their portfolios.


Floating-Rate 7(a) Pools




Fixed-Rate (DCPC and SBIC) Pools


Government Guaranteed Loan Trading


September prepay speeds were on par with last month as all SBA pools experienced an 8.7 CPR, slightly higher than the full year speeds for 2016.  Demand for floating-rate and fixed-rate SBAs continues to be strong with a variety of structures available in the market.  New issue equipment-backed pools and seasoned real-estate-backed pools were actively traded last week.








Greg Roll, CFA

Senior Vice President

Vining Sparks

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