Buying an Always Best Care Services franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 14 7(a) loans to buy an existing Always Best Care Services (classified mostly as Home Health Care Services), totaling $8.6M. The median loan was $518,000, 20% lower than the $645,250 median for all SBA-financed acquisitions. 5 of these loans were approved in the last two fiscal years.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Always Best Care Services resale loans landed between $284,100 and $906,500.
- Lender experience exists. Live Oak Banking Company alone has financed 7 Always Best Care Services resales.
- Guaranty. The SBA guaranteed 77% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing an Always Best Care Services resale
The median SBA 7(a) loan for an Always Best Care Services resale was $518,000 across 14 loans (FY2018 to FY2026). Live Oak Banking Company, Stearns Bank National Association and First Bank have financed the most Always Best Care Services resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Always Best Care Services acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $540K | $540,000 | |
| FY2020 | 1 | $434K | $434,000 | |
| FY2021 | 3 | $1.8M | $496,000 | |
| FY2022 | 3 | $2.1M | $700,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $890K | $890,000 | |
| FY2025 | 3 | $1.5M | $250,000 | |
| FY2026 | 2 | $1.3M | $672,500 |
How often do these acquisition loans fail?
Fewer than 20 Always Best Care Services acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Lenders financing Always Best Care Services resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 7 | 50.0% | $4.4M | |
| 2 | Stearns Bank National Association | 2 | 14.3% | $1.1M | |
| 3 | First Bank | 1 | 7.1% | $912K | |
| 4 | First Internet Bank of Indiana | 1 | 7.1% | $700K | |
| 5 | Fulton Bank, National Association | 1 | 7.1% | $540K | |
| 6 | MVB Bank, Inc. | 1 | 7.1% | $496K | |
| 7 | Newtek Small Business Finance, LLC | 1 | 7.1% | $386K |
States where Always Best Care Services units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 4 | 28.6% | $2.6M | |
| 2 | Colorado | 2 | 14.3% | $1.4M | |
| 3 | Connecticut | 2 | 14.3% | $1.1M | |
| 4 | California | 1 | 7.1% | $912K | |
| 5 | Texas | 1 | 7.1% | $700K | |
| 6 | Pennsylvania | 1 | 7.1% | $540K | |
| 7 | Illinois | 1 | 7.1% | $496K | |
| 8 | Maryland | 1 | 7.1% | $434K | |
| 9 | New Jersey | 1 | 7.1% | $386K |
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify Always Best Care Services
Lenders code each loan to a NAICS industry. For Always Best Care Services the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Home Health Care Services | 11 | 78.6% | $6.7M | |
| 2 | Services for the Elderly and Persons with Disabilities | 3 | 21.4% | $1.9M |
Questions buyers ask
How much do buyers borrow to buy an Always Best Care Services franchise?
The median SBA 7(a) loan for an Always Best Care Services resale was $518,000 across 14 loans (FY2018 to FY2026). The middle half of loans ran from $284,100 to $906,500. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Always Best Care Services acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Always Best Care Services (7, 50% of the total). Stearns Bank National Association, First Bank, First Internet Bank of Indiana follow.
What interest rate and term do Always Best Care Services acquisition loans carry?
The average initial rate at approval was 7.46% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is an Always Best Care Services resale riskier than other SBA-financed acquisitions?
Too few Always Best Care Services acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Always Best Care Services units being bought with SBA loans?
Florida (4), Colorado (2), Connecticut (2), California (1), Texas (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- All Home Health Care Services acquisitions
- Florida acquisitions
- Colorado acquisitions
- Connecticut acquisitions
- Live Oak Banking Company
- Stearns Bank National Association
- First Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Always Best Care Services" (franchise code S0097). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.