Buying a CarePatrol franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing CarePatrol (classified mostly as Other Individual and Family Services), totaling $3.3M. The median loan was $350,000, 46% lower than the $645,250 median for all SBA-financed acquisitions. 2 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 CarePatrol resale loans landed between $297,900 and $366,700.
- Lender experience exists. Nicolet National Bank alone has financed 2 CarePatrol 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 a CarePatrol resale
The median SBA 7(a) loan for a CarePatrol resale was $350,000 across 5 loans (FY2018 to FY2026). Nicolet National Bank, CDC Small Business Finance Corp. and U.S. Bank, National Association have financed the most CarePatrol 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%.
CarePatrol acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $222K | $221,800 | |
| FY2023 | 1 | $350K | $350,000 | |
| FY2024 | 1 | $298K | $297,900 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 2 | $2.4M | $1,202,150 |
How often do these acquisition loans fail?
Fewer than 20 CarePatrol 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Lenders financing CarePatrol resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Nicolet National Bank | 2 | 40.0% | $2.4M | |
| 2 | CDC Small Business Finance Corp. | 2 | 40.0% | $648K | |
| 3 | U.S. Bank, National Association | 1 | 20.0% | $222K |
States where CarePatrol units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Wisconsin | 2 | 40.0% | $2.4M | |
| 2 | Maryland | 1 | 20.0% | $350K | |
| 3 | New Jersey | 1 | 20.0% | $298K | |
| 4 | Kansas | 1 | 20.0% | $222K |
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify CarePatrol
Lenders code each loan to a NAICS industry. For CarePatrol the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Other Individual and Family Services | 3 | 60.0% | $2.6M | |
| 2 | Services for the Elderly and Persons with Disabilities | 2 | 40.0% | $648K |
Questions buyers ask
How much do buyers borrow to buy a CarePatrol franchise?
The median SBA 7(a) loan for a CarePatrol resale was $350,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $297,900 to $366,700. 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 CarePatrol acquisitions?
Nicolet National Bank has made the most SBA acquisition loans for CarePatrol (2, 40% of the total). CDC Small Business Finance Corp., U.S. Bank, National Association follow.
What interest rate and term do CarePatrol acquisition loans carry?
The average initial rate at approval was 9.18% (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 a CarePatrol resale riskier than other SBA-financed acquisitions?
Too few CarePatrol 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 CarePatrol units being bought with SBA loans?
Wisconsin (2), Maryland (1), New Jersey (1), Kansas (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.
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Related
- All Other Individual and Family Services acquisitions
- Wisconsin acquisitions
- Maryland acquisitions
- New Jersey acquisitions
- Nicolet National Bank
- CDC Small Business Finance Corp.
- U.S. Bank, National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "CarePatrol" (franchise code S3123). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.