BayFirst discontinues Bolt SBA 7(a) loan program, cuts 51 jobs, suspends dividend

BayFirst Financial Corp.

Bolt loan program (SBA 7(a) working capital) discontinued effective immediately as part of strategic review.
51 positions eliminated (26 Bolt, 25 other areas), saving $6M annually; 17% of workforce.
Q2 2025 charge-offs and fair value write-downs on high-risk SBA 7(a) loans recorded; Q3 restructuring charge expected.
Dividend payments suspended and directors forgo board fees to offset impacts.
Company seeks to sell Bolt loan balances and origination platform to an unaffiliated third party.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.