Buying a Crumbl franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 30 7(a) loans to buy an existing Crumbl (classified mostly as Snack and Nonalcoholic Beverage Bars), totaling $44.1M. The median loan was $1,211,500, 88% higher than the $645,250 median for all SBA-financed acquisitions. 19 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 Crumbl resale loans landed between $455,750 and $1,800,000.
- Lender experience exists. The Huntington National Bank alone has financed 6 Crumbl 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 Crumbl resale
The median SBA 7(a) loan for a Crumbl resale was $1,211,500 across 30 loans (FY2018 to FY2026). The Huntington National Bank, United Community Bank and First Bank of the Lake have financed the most Crumbl 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%.
Crumbl acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 2 | $2.2M | $1,091,250 | |
| FY2022 | 3 | $6.8M | $1,665,000 | |
| FY2023 | 4 | $4.7M | $900,000 | |
| FY2024 | 2 | $4.2M | $2,087,850 | |
| FY2025 | 11 | $14.3M | $908,500 | |
| FY2026 | 8 | $12.1M | $1,175,000 |
How often do these acquisition loans fail?
Fewer than 20 Crumbl 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 Crumbl resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 6 | 20.0% | $2.7M | |
| 2 | United Community Bank | 3 | 10.0% | $5M | |
| 3 | First Bank of the Lake | 2 | 6.7% | $8M | |
| 4 | Live Oak Banking Company | 2 | 6.7% | $5.8M | |
| 5 | Celtic Bank Corporation | 1 | 3.3% | $4.5M | |
| 6 | Zions Bancorporation, National Association | 1 | 3.3% | $2.1M | |
| 7 | Byline Bank | 1 | 3.3% | $1.8M | |
| 8 | Idaho Central CU | 1 | 3.3% | $1.8M | |
| 9 | T Bank, National Association | 1 | 3.3% | $1.8M | |
| 10 | Accordia Bank | 1 | 3.3% | $1.7M |
States where Crumbl units are bought
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify Crumbl
Lenders code each loan to a NAICS industry. For Crumbl the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Snack and Nonalcoholic Beverage Bars | 22 | 73.3% | $33.1M | |
| 2 | Baked Goods Retailers | 5 | 16.7% | $4.2M | |
| 3 | Limited-Service Restaurants | 2 | 6.7% | $6.3M |
Questions buyers ask
How much do buyers borrow to buy a Crumbl franchise?
The median SBA 7(a) loan for a Crumbl resale was $1,211,500 across 30 loans (FY2018 to FY2026). The middle half of loans ran from $455,750 to $1,800,000. 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 Crumbl acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Crumbl (6, 20% of the total). United Community Bank, First Bank of the Lake, Live Oak Banking Company follow.
What interest rate and term do Crumbl 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 Crumbl resale riskier than other SBA-financed acquisitions?
Too few Crumbl 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 Crumbl units being bought with SBA loans?
California (5), Florida (4), Ohio (4), Texas (3), Utah (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 Snack and Nonalcoholic Beverage Bars acquisitions
- California acquisitions
- Florida acquisitions
- Ohio acquisitions
- The Huntington National Bank
- United Community Bank
- First Bank of the Lake
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Crumbl" (franchise code S4360). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.