BayFirst to sell $103M in SBA 7(a) loans to Banesco USA; exits SBA lending business

BayFirst Financial Corp.

Sells ~$103M SBA 7(a) loan balances at 97% of unpaid principal, plus book value of servicing rights.
BayFirst will exit SBA 7(a) lending; majority of SBA staff offered positions at Banesco USA.
Transaction expected to close in Q4 2025; Banesco USA will service both purchased and retained SBA loans.
CEO says sale derisks balance sheet and supports community bank growth, deposit growth, and fee income.

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