Debenture Deal Factors Prepayment Experience

Provides prepayment and acceleration experience by pool by percentage.

Pooled SBIC Debentures have a 10 year term.  SBICs have the option of prepaying pooled Debentures prior to maturity on any Payment Date after pooling.  Prepaid principal is distributed pro-rata to the investors in each pool.  A default by an SBIC may result in an acceleration the SBIC’s Debentures, at which time SBA purchases the Debentures out of the pools.  Acceleration payments are distributed pro-rata to the investors in each pool.  The Debenture Deal Factors provide prepayment and acceleration experience by pool by percentage.

This data was collected from the U.S. Small Business Administration.

Data last updated September 10, 2024.

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SBIC DEBENTURE PROGRAM – Prepayment Experience by Semi-Annual Period, as of September 10, 2024 (unaudited and subject to revision and update)

Table 1: Percentage of Principal Outstanding by Pool Series and Semi-Annual Period

Pool SeriesSemi-Annual Period 1Semi-Annual Period 2Semi-Annual Period 3Semi-Annual Period 4Semi-Annual Period 5Semi-Annual Period 6Semi-Annual Period 7Semi-Annual Period 8Semi-Annual Period 9Semi-Annual Period 10Semi-Annual Period 11Semi-Annual Period 12Semi-Annual Period 13Semi-Annual Period 14Semi-Annual Period 15Semi-Annual Period 16Semi-Annual Period 17Semi-Annual Period 18Semi-Annual Period 19Semi-Annual Period 20
2015-10A99.2%99.1%98.0%94.6%94.1%86.5%76.8%67.5%57.8%53.3%46.1%40.5%35.6%21.0%16.8%14.5%11.3%7.4%7.4%
2015-10B99.6%97.4%96.4%91.8%84.3%79.7%73.1%64.1%56.9%49.9%39.8%25.8%19.9%11.7%10.2%8.8%8.1%8.1%
2016-10A99.9%99.8%98.0%96.7%94.7%90.2%85.2%75.5%68.6%63.1%45.3%34.1%24.5%16.6%12.2%9.5%8.6%
2016-10B100.0%99.8%94.9%89.7%88.5%83.6%80.5%73.3%63.1%55.8%42.7%33.5%27.8%23.6%17.8%14.9%
2017-10A98.1%96.0%94.5%89.2%85.7%77.2%73.4%60.0%49.2%37.6%28.1%22.6%17.5%16.1%13.5%
2017-10B98.9%98.9%94.8%92.4%89.3%88.9%86.9%79.1%69.6%60.9%50.6%45.1%37.2%34.6%
2018-10A98.2%94.7%90.2%79.3%73.9%64.4%54.7%36.7%26.9%22.4%21.0%18.7%17.2%
2018-10B95.1%89.0%80.2%76.3%69.0%62.2%54.4%39.4%34.7%33.7%33.4%25.7%
2019-10A98.9%90.3%87.8%82.6%76.3%70.7%65.8%54.6%49.6%44.0%26.9%
2019-10B100.0%100.0%96.7%95.7%93.1%90.2%85.8%81.7%75.0%63.5%
2020-10A99.6%99.6%95.6%93.6%93.5%90.8%86.6%83.0%79.0%
2020-10B99.8%99.6%99.2%98.9%98.7%97.9%97.9%94.9%
2021-10A95.4%94.1%93.3%93.2%87.6%87.2%86.6%
2021-10B100.0%99.8%99.8%99.4%99.4%99.0%
2022-10A99.7%99.1%99.0%98.7%94.9%
2022-10B97.7%96.8%95.3%93.3%
2023-10A99.1%95.9%94.1%
2023-10B97.7%94.1%
2024-10A99.7%
Average98.8%96.9%94.6%91.6%88.2%83.5%77.5%67.5%57.3%48.4%37.1%30.7%25.7%20.6%14.1%11.9%9.4%7.7%7.4%NA

Table 2: Percentage of Voluntary Prepaid Principal by Pool Series and Semi-Annual Period

Pool SeriesSemi-Annual Period 1Semi-Annual Period 2Semi-Annual Period 3Semi-Annual Period 4Semi-Annual Period 5Semi-Annual Period 6Semi-Annual Period 7Semi-Annual Period 8Semi-Annual Period 9Semi-Annual Period 10Semi-Annual Period 11Semi-Annual Period 12Semi-Annual Period 13Semi-Annual Period 14Semi-Annual Period 15Semi-Annual Period 16Semi-Annual Period 17Semi-Annual Period 18Semi-Annual Period 19Semi-Annual Period 20
2015-10A0.8%0.9%2.0%5.4%5.6%13.3%22.9%32.2%39.7%44.2%48.8%54.4%59.2%73.9%78.1%80.4%83.6%87.5%87.5%
2015-10B0.4%2.6%3.6%8.2%15.7%20.3%26.8%35.7%42.9%48.8%58.9%72.9%78.8%87.0%88.4%89.7%90.4%90.4%
2016-10A0.1%0.2%1.9%3.2%5.1%9.2%12.9%22.6%27.9%33.3%51.2%62.3%71.9%79.7%84.1%86.8%87.7%
2016-10B0.0%0.0%5.0%10.2%11.3%15.4%18.5%24.3%34.5%41.8%54.9%64.1%69.8%74.0%79.8%82.7%
2017-10A1.4%3.6%5.1%10.4%13.5%22.0%25.8%39.2%50.0%61.6%71.1%76.6%81.7%83.1%85.7%
2017-10B1.1%1.1%5.2%7.4%10.5%10.9%12.9%20.7%30.2%38.9%49.1%54.6%62.4%65.1%
2018-10A1.8%5.3%9.6%20.5%24.4%34.0%43.6%61.6%71.5%76.0%77.4%79.6%81.2%
2018-10B4.9%11.0%19.8%23.7%31.0%37.8%45.6%60.6%65.3%66.3%66.6%74.3%
2019-10A1.1%9.7%12.2%17.4%23.7%29.3%34.2%45.4%50.4%56.0%73.1%
2019-10B0.0%0.0%3.3%4.3%6.9%9.8%14.2%17.6%24.3%35.8%
2020-10A0.4%0.4%4.4%6.4%6.5%9.2%11.9%15.5%19.5%
2020-10B0.2%0.4%0.8%1.1%1.3%1.5%1.5%4.5%
2021-10A4.6%5.9%6.7%6.8%7.6%8.0%8.6%
2021-10B0.0%0.2%0.2%0.2%0.2%0.5%
2022-10A0.3%0.9%1.0%1.3%5.1%
2022-10B2.3%3.2%4.7%6.7%
2023-10A0.9%4.1%5.9%
2023-10B2.3%5.9%
2024- 10A0.3%
Average1.2%3.1%5.4%8.3%11.2%15.8%21.5%31.7%41.5%50.3%61.2%67.4%72.1%77.1%83.2%84.9%87.2%89.0%87.5%NA

Table 3: Percentage of Accelerated Prepaid Principal by Pool Series and Semi-Annual Period

Pool SeriesSemi-Annual Period 1Semi-Annual Period 2Semi-Annual Period 3Semi-Annual Period 4Semi-Annual Period 5Semi-Annual Period 6Semi-Annual Period 7Semi-Annual Period 8Semi-Annual Period 9Semi-Annual Period 10Semi-Annual Period 11Semi-Annual Period 12Semi-Annual Period 13Semi-Annual Period 14Semi-Annual Period 15Semi-Annual Period 16Semi-Annual Period 17Semi-Annual Period 18Semi-Annual Period 19Semi-Annual Period 20
2015-10A0.0%0.0%0.0%0.0%0.3%0.3%0.3%0.3%2.6%2.6%5.1%5.1%5.1%5.1%5.1%5.1%5.1%5.1%5.1%
2015-10B0.0%0.0%0.0%0.0%0.0%0.0%0.1%0.3%0.3%1.3%1.3%1.3%1.3%1.3%1.4%1.4%1.4%1.4%
2016-10A0.0%0.0%0.1%0.1%0.1%0.6%1.9%1.9%3.6%3.6%3.6%3.6%3.6%3.6%3.6%3.6%3.6%
2016-10B0.0%0.2%0.2%0.2%0.3%1.0%1.0%2.4%2.4%2.4%2.4%2.4%2.4%2.4%2.4%2.4%
2017-10A0.5%0.5%0.5%0.5%0.8%0.8%0.8%0.8%0.8%0.8%0.8%0.8%0.8%0.8%0.8%
2017-10B0.0%0.0%0.0%0.2%0.2%0.2%0.2%0.2%0.2%0.2%0.4%0.4%0.4%0.4%
2018-10A0.0%0.0%0.2%0.2%1.7%1.7%1.7%1.7%1.7%1.7%1.7%1.7%1.7%
2018-10B0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
2019-10A0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
2019-10B0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.8%0.8%0.8%
2020-10A0.0%0.0%0.0%0.0%0.0%0.0%1.5%1.5%1.5%
2020-10B0.0%0.0%0.0%0.0%0.0%0.6%0.6%0.6%
2021-10A0.0%0.0%0.0%0.0%4.8%4.8%4.8%
2021-10B0.0%0.0%0.0%0.5%0.5%0.5%
2022-10A0.0%0.0%0.0%0.0%0.0%
2022-10B0.0%0.0%0.0%0.0%
2023-10A0.0%0.0%0.0%
2023-10B0.0%0.0%
2024- 10A0.0%
Average0.0%0.0%0.1%0.1%0.6%0.7%1.0%0.9%1.2%1.3%1.7%1.9%2.2%2.3%2.7%3.1%3.4%3.3%5.1%NA
Note: Data is unaudited and subject to revision and update.