BayFirst Financial Sells $94.6 Million in Loans to Banesco USA

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BayFirst Financial Corp

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BayFirst Financial Corp. has completed the sale of $94.6 million in loans to Banesco USA as part of a strategic effort to reduce SBA 7(a) loan balances and strengthen its balance sheet. The transaction is expected to improve the bank's capital ratios, and Banesco USA will assume servicing of the sold loans. An additional $4.5 million in loan sales to Banesco USA is anticipated before year-end.

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