---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-25-000241"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2025-09-29T23:59:59+00:00"
generated_at: "2026-05-17T05:24:38.180879+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001649739-25-000241
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2025-09-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000241/0001649739-25-000241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000241/bafn-20250925.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-25-000241
- JSON: https://secwatch.observer/filing/0001649739-25-000241.json
- Plain text: https://secwatch.observer/filing/0001649739-25-000241.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.