Buying a College Hunks Hauling Junk franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing College Hunks Hauling Junk (classified mostly as Used Household and Office Goods Moving), totaling $6M. The median loan was $691,000, 7% higher than the $645,250 median for all SBA-financed acquisitions. 1 of these loans were approved in the last two fiscal years.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of College Hunks Hauling Junk resale loans landed between $429,250 and $882,375.
- Lender experience exists. The Bancorp Bank National Association alone has financed 2 College Hunks Hauling Junk resales.
- Guaranty. The SBA guaranteed 78% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a College Hunks Hauling Junk resale
The median SBA 7(a) loan for a College Hunks Hauling Junk resale was $691,000 across 8 loans (FY2018 to FY2026). The Bancorp Bank National Association, TowneBank and Gulf Coast Bank have financed the most College Hunks Hauling Junk 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%.
College Hunks Hauling Junk acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $855K | $855,000 | |
| FY2020 | 1 | $150K | $150,000 | |
| FY2021 | 3 | $2M | $837,000 | |
| FY2022 | 1 | $1.9M | $1,947,200 | |
| FY2023 | 1 | $545K | $545,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $500K | $500,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 College Hunks Hauling Junk 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 College Hunks Hauling Junk resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Bancorp Bank National Association | 2 | 25.0% | $367K | |
| 2 | TowneBank | 1 | 12.5% | $1.9M | |
| 3 | Gulf Coast Bank | 1 | 12.5% | $965K | |
| 4 | Happen Bank | 1 | 12.5% | $855K | |
| 5 | Midwest Regional Bank | 1 | 12.5% | $837K | |
| 6 | First Bank | 1 | 12.5% | $545K | |
| 7 | Live Oak Banking Company | 1 | 12.5% | $500K |
States where College Hunks Hauling Junk units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 1 | 12.5% | $1.9M | |
| 2 | Louisiana | 1 | 12.5% | $965K | |
| 3 | Colorado | 1 | 12.5% | $855K | |
| 4 | Kansas | 1 | 12.5% | $837K | |
| 5 | New Jersey | 1 | 12.5% | $545K | |
| 6 | California | 1 | 12.5% | $500K | |
| 7 | Maryland | 1 | 12.5% | $217K | |
| 8 | Virginia | 1 | 12.5% | $150K |
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify College Hunks Hauling Junk
Lenders code each loan to a NAICS industry. For College Hunks Hauling Junk the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Used Household and Office Goods Moving | 4 | 50.0% | $3.5M | |
| 2 | Office Administrative Services | 1 | 12.5% | $965K | |
| 3 | All Other Specialty Trade Contractors | 1 | 12.5% | $855K | |
| 4 | General Freight Trucking, Local | 1 | 12.5% | $500K |
Questions buyers ask
How much do buyers borrow to buy a College Hunks Hauling Junk franchise?
The median SBA 7(a) loan for a College Hunks Hauling Junk resale was $691,000 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $429,250 to $882,375. 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 College Hunks Hauling Junk acquisitions?
The Bancorp Bank National Association has made the most SBA acquisition loans for College Hunks Hauling Junk (2, 25% of the total). TowneBank, Gulf Coast Bank, Happen Bank follow.
What interest rate and term do College Hunks Hauling Junk acquisition loans carry?
The average initial rate at approval was 7.69% (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 College Hunks Hauling Junk resale riskier than other SBA-financed acquisitions?
Too few College Hunks Hauling Junk 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 College Hunks Hauling Junk units being bought with SBA loans?
Florida (1), Louisiana (1), Colorado (1), Kansas (1), New Jersey (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 Used Household and Office Goods Moving acquisitions
- Florida acquisitions
- Louisiana acquisitions
- Colorado acquisitions
- The Bancorp Bank National Association
- TowneBank
- Gulf Coast Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "College Hunks Hauling Junk, College Hunks Moving, College Hunks Hauling Junk & Moving" (franchise code S0402). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.