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Story summary
- BayFirst Bank will sell $103 million in Small Business Administration (SBA) 7(a) loans and exit SBA lending.
- Banesco USA will acquire these loans and establish a national SBA lending operation using BayFirst's infrastructure.
- BayFirst's decision follows a strategic review to focus on community banking in Tampa-St. Petersburg.
- SBA projects 2025 to be strong, with $36.2 billion in 7(a) loans originated.
