Ian Green

Ross Haberman

- **BayFirst Financial Corp. (BAFN) announced its exit from the SBA 7(a) lending business**.  **[1649739_0001649739-25-000241_bayfirstq32025sbaexit.htm:0]** 
- The company signed a definitive agreement to **sell $103 million of SBA 7(a) loan balances to Banesco USA** at **97% of retained balances**, with Banesco USA also purchasing servicing rights for book value.  **[1649739_0001649739-25-000241_bayfirstq32025sbaexit.htm:0]** **[1649739_0001649739-25-000241_bafn-20250925.htm:1]** **[1649739_0001649739-25-000241_a101assetpurchaseagreement.htm:14]** 
- The **majority of BayFirst's current SBA lending staff and support teams will be offered positions with Banesco USA**.  **[1649739_0001649739-25-000241_bayfirstq32025sbaexit.htm:0]** **[1649739_0001649739-25-000241_bafn-20250925.htm:2]** 
- The transaction is **expected to close in the fourth quarter of 2025**.  **[1649739_0001649739-25-000241_bayfirstq32025sbaexit.htm:0]** **[1649739_0001649739-25-000241_bafn-20250925.htm:2]**

BayFirst Financial (BAFN)