Buying an Any LabTest Now franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 9 7(a) loans to buy an existing Any LabTest Now (classified mostly as Medical Laboratories), totaling $5.9M. The median loan was $364,000, 44% lower than the $645,250 median for all SBA-financed acquisitions. 3 of these loans were approved in the last two fiscal years.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Any LabTest Now resale loans landed between $318,000 and $825,000.
- Lender experience exists. The Huntington National Bank alone has financed 3 Any LabTest Now resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing an Any LabTest Now resale
The median SBA 7(a) loan for an Any LabTest Now resale was $364,000 across 9 loans (FY2018 to FY2026). The Huntington National Bank, United Community Bank and St. Louis Bank have financed the most Any LabTest Now 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%.
Any LabTest Now acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $1.7M | $1,650,000 | |
| FY2021 | 1 | $364K | $364,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $1.4M | $1,445,000 | |
| FY2024 | 3 | $1.2M | $318,000 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 3 | $1.2M | $326,200 |
How often do these acquisition loans fail?
Fewer than 20 Any LabTest Now 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 Any LabTest Now resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 3 | 33.3% | $2.6M | |
| 2 | United Community Bank | 2 | 22.2% | $850K | |
| 3 | St. Louis Bank | 2 | 22.2% | $682K | |
| 4 | Pathward National Association | 1 | 11.1% | $1.4M | |
| 5 | United Midwest Savings Bank National Association | 1 | 11.1% | $326K |
States where Any LabTest Now units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Tennessee | 3 | 33.3% | $1.2M | |
| 2 | Texas | 2 | 22.2% | $3.1M | |
| 3 | North Carolina | 2 | 22.2% | $850K | |
| 4 | Arizona | 2 | 22.2% | $682K |
Seller note standby terms and third-party consents are reviewed before closing.
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How lenders classify Any LabTest Now
Lenders code each loan to a NAICS industry. For Any LabTest Now the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Medical Laboratories | 6 | 66.7% | $3.5M | |
| 2 | Testing Laboratories and Services | 2 | 22.2% | $900K | |
| 3 | All Other Outpatient Care Centers | 1 | 11.1% | $1.4M |
Questions buyers ask
How much do buyers borrow to buy an Any LabTest Now franchise?
The median SBA 7(a) loan for an Any LabTest Now resale was $364,000 across 9 loans (FY2018 to FY2026). The middle half of loans ran from $318,000 to $825,000. 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 Any LabTest Now acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Any LabTest Now (3, 33% of the total). United Community Bank, St. Louis Bank, Pathward National Association follow.
What interest rate and term do Any LabTest Now acquisition loans carry?
The average initial rate at approval was 8.86% (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 Any LabTest Now resale riskier than other SBA-financed acquisitions?
Too few Any LabTest Now 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 Any LabTest Now units being bought with SBA loans?
Tennessee (3), Texas (2), North Carolina (2), Arizona (2). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Medical Laboratories acquisitions
- Tennessee acquisitions
- Texas acquisitions
- North Carolina acquisitions
- The Huntington National Bank
- United Community Bank
- St. Louis Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Any LabTest Now" (franchise code S0121). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.