Buying a ComForCare Home Care franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing ComForCare Home Care (classified mostly as Home Health Care Services), totaling $15.9M. The median loan was $680,000, 5% higher than the $645,250 median for all SBA-financed acquisitions. 7 of these loans were approved in the last two fiscal years.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of ComForCare Home Care resale loans landed between $346,000 and $1,075,000.
- Lender experience exists. Live Oak Banking Company alone has financed 9 ComForCare Home Care resales.
- Guaranty. The SBA guaranteed 76% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a ComForCare Home Care resale
The median SBA 7(a) loan for a ComForCare Home Care resale was $680,000 across 17 loans (FY2018 to FY2026). Live Oak Banking Company, CIBC Bank USA and Pathward National Association have financed the most ComForCare Home Care 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%.
ComForCare Home Care acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.9M | $1,920,000 | |
| FY2019 | 1 | $476K | $476,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 3 | $1.4M | $375,000 | |
| FY2022 | 2 | $1.4M | $722,700 | |
| FY2023 | 3 | $2.2M | $775,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 4 | $2M | $415,000 | |
| FY2026 | 3 | $6.4M | $1,420,000 |
How often do these acquisition loans fail?
Fewer than 20 ComForCare Home Care 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.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Lenders financing ComForCare Home Care resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 9 | 52.9% | $9.7M | |
| 2 | CIBC Bank USA | 1 | 5.9% | $1.9M | |
| 3 | Pathward National Association | 1 | 5.9% | $1.1M | |
| 4 | Wells Fargo Bank National Association | 1 | 5.9% | $830K | |
| 5 | First Bank of the Lake | 1 | 5.9% | $732K | |
| 6 | United Community Bank | 1 | 5.9% | $615K | |
| 7 | Stearns Bank National Association | 1 | 5.9% | $476K | |
| 8 | Old National Bank | 1 | 5.9% | $346K | |
| 9 | CDC Small Business Finance Corp. | 1 | 5.9% | $150K |
States where ComForCare Home Care units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Michigan | 3 | 17.6% | $1.5M | |
| 2 | Massachusetts | 2 | 11.8% | $5M | |
| 3 | New Jersey | 2 | 11.8% | $2.2M | |
| 4 | Arizona | 2 | 11.8% | $755K | |
| 5 | Pennsylvania | 1 | 5.9% | $1.9M | |
| 6 | Connecticut | 1 | 5.9% | $1.1M | |
| 7 | Illinois | 1 | 5.9% | $1.1M | |
| 8 | Texas | 1 | 5.9% | $830K | |
| 9 | Indiana | 1 | 5.9% | $615K | |
| 10 | North Carolina | 1 | 5.9% | $476K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How lenders classify ComForCare Home Care
Lenders code each loan to a NAICS industry. For ComForCare Home Care the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Home Health Care Services | 13 | 76.5% | $12.6M | |
| 2 | Services for the Elderly and Persons with Disabilities | 4 | 23.5% | $3.3M |
Questions buyers ask
How much do buyers borrow to buy a ComForCare Home Care franchise?
The median SBA 7(a) loan for a ComForCare Home Care resale was $680,000 across 17 loans (FY2018 to FY2026). The middle half of loans ran from $346,000 to $1,075,000. 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 ComForCare Home Care acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for ComForCare Home Care (9, 53% of the total). CIBC Bank USA, Pathward National Association, Wells Fargo Bank National Association follow.
What interest rate and term do ComForCare Home Care acquisition loans carry?
The average initial rate at approval was 7.90% (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 ComForCare Home Care resale riskier than other SBA-financed acquisitions?
Too few ComForCare Home Care 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 ComForCare Home Care units being bought with SBA loans?
Michigan (3), Massachusetts (2), New Jersey (2), Arizona (2), Pennsylvania (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.
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Related
- All Home Health Care Services acquisitions
- Michigan acquisitions
- Massachusetts acquisitions
- New Jersey acquisitions
- Live Oak Banking Company
- CIBC Bank USA
- Pathward National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "ComForCare Home Care and At Your Side Home Care" (franchise code S0408). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.