Buying a Charleys Philly Steaks franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Charleys Philly Steaks (classified mostly as Limited-Service Restaurants), totaling $3.4M. The median loan was $362,500, 44% lower than the $645,250 median for all SBA-financed acquisitions. 5 of these loans were approved in the last two fiscal years.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Charleys Philly Steaks resale loans landed between $173,300 and $395,000.
- Lender experience exists. The Huntington National Bank alone has financed 2 Charleys Philly Steaks resales.
- Guaranty. The SBA guaranteed 74% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Charleys Philly Steaks resale
The median SBA 7(a) loan for a Charleys Philly Steaks resale was $362,500 across 5 loans (FY2018 to FY2026). The Huntington National Bank, Centerstone SBA Lending, Inc. and East West Bank have financed the most Charleys Philly Steaks 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%.
Charleys Philly Steaks acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $173K | $173,300 | |
| FY2026 | 4 | $3.2M | $378,750 |
How often do these acquisition loans fail?
Fewer than 20 Charleys Philly Steaks 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.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
Lenders financing Charleys Philly Steaks resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 2 | 40.0% | $2.4M | |
| 2 | Centerstone SBA Lending, Inc. | 1 | 20.0% | $395K | |
| 3 | East West Bank | 1 | 20.0% | $363K | |
| 4 | Hancock Whitney Bank | 1 | 20.0% | $173K |
States where Charleys Philly Steaks units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 2 | 40.0% | $2.4M | |
| 2 | Iowa | 1 | 20.0% | $395K | |
| 3 | California | 1 | 20.0% | $363K | |
| 4 | Texas | 1 | 20.0% | $173K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How lenders classify Charleys Philly Steaks
Lenders code each loan to a NAICS industry. For Charleys Philly Steaks the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 3 | 60.0% | $931K | |
| 2 | Full-Service Restaurants | 2 | 40.0% | $2.4M |
Questions buyers ask
How much do buyers borrow to buy a Charleys Philly Steaks franchise?
The median SBA 7(a) loan for a Charleys Philly Steaks resale was $362,500 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $173,300 to $395,000. 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 Charleys Philly Steaks acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Charleys Philly Steaks (2, 40% of the total). Centerstone SBA Lending, Inc., East West Bank, Hancock Whitney Bank follow.
What interest rate and term do Charleys Philly Steaks acquisition loans carry?
The average initial rate at approval was 8.73% (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 Charleys Philly Steaks resale riskier than other SBA-financed acquisitions?
Too few Charleys Philly Steaks 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 Charleys Philly Steaks units being bought with SBA loans?
Florida (2), Iowa (1), 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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Limited-Service Restaurants acquisitions
- Florida acquisitions
- Iowa acquisitions
- California acquisitions
- The Huntington National Bank
- Centerstone SBA Lending, Inc.
- East West Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Charleys Philly Steaks" (franchise code S0360). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.