AM/PM Mini-Mart Agreement resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing business operating under a AM/PM Mini-Mart Agreement brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $25.3M. The median loan was $3,332,500, 416% higher than the $645,250 median for all SBA-financed acquisitions. 3 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 AM/PM Mini-Mart Agreement resale loans landed between $2,185,875 and $4,588,500.
- Lender experience exists. Celtic Bank Corporation alone has financed 3 AM/PM Mini-Mart Agreement resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record the terms of the brand or supply agreement.
Financing an AM/PM Mini-Mart Agreement resale
The median SBA 7(a) loan for an AM/PM Mini-Mart Agreement resale was $3,332,500 across 8 loans (FY2018 to FY2026). Celtic Bank Corporation, Open Bank and American Continental Bank have financed the most AM/PM Mini-Mart Agreement 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%.
AM/PM Mini-Mart Agreement acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $4M | $4,000,000 | |
| FY2020 | 1 | $5M | $4,950,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $2.5M | $2,514,500 | |
| FY2023 | 2 | $9.5M | $4,734,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 2 | $3.2M | $1,582,500 | |
| FY2026 | 1 | $1.2M | $1,200,000 |
How often do these acquisition loans fail?
Fewer than 20 AM/PM Mini-Mart Agreement 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 AM/PM Mini-Mart Agreement resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Celtic Bank Corporation | 3 | 37.5% | $11.5M | |
| 2 | Open Bank | 1 | 12.5% | $5M | |
| 3 | American Continental Bank | 1 | 12.5% | $4.5M | |
| 4 | PCB Bank | 1 | 12.5% | $2.7M | |
| 5 | Commercial Bank of California | 1 | 12.5% | $1.2M | |
| 6 | East West Bank | 1 | 12.5% | $500K |
States where AM/PM Mini-Mart Agreement units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 8 | 100.0% | $25.3M |
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Questions buyers ask
How much do buyers borrow to buy a business operating under a AM/PM Mini-Mart Agreement brand or supply agreement?
The median SBA 7(a) loan for an AM/PM Mini-Mart Agreement resale was $3,332,500 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $2,185,875 to $4,588,500. 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 AM/PM Mini-Mart Agreement acquisitions?
Celtic Bank Corporation has made the most SBA acquisition loans for AM/PM Mini-Mart Agreement (3, 38% of the total). Open Bank, American Continental Bank, PCB Bank follow.
What interest rate and term do AM/PM Mini-Mart Agreement acquisition loans carry?
The average initial rate at approval was 7.94% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 25 years.
Is an AM/PM Mini-Mart Agreement resale riskier than other SBA-financed acquisitions?
Too few AM/PM Mini-Mart Agreement 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 AM/PM Mini-Mart Agreement units being bought with SBA loans?
California (8). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
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Related
- All Gasoline Stations with Convenience Stores acquisitions
- California acquisitions
- Celtic Bank Corporation
- Open Bank
- American Continental Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "AM/PM Mini-Mart Agreement - ARCO Fuel - Contract Dealer Gasoline Agreement (Tesoro)" (franchise code S2097). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.