Buying an Express Employment Professionals franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing Express Employment Professionals (classified mostly as Employment Placement Agencies), totaling $12M. The median loan was $675,000, in line with the $645,250 median for all SBA-financed acquisitions. 6 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 Express Employment Professionals resale loans landed between $419,100 and $805,000.
- Lender experience exists. The Huntington National Bank alone has financed 3 Express Employment Professionals 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 an Express Employment Professionals resale
The median SBA 7(a) loan for an Express Employment Professionals resale was $675,000 across 17 loans (FY2018 to FY2026). The Huntington National Bank, Live Oak Banking Company and First Horizon Bank have financed the most Express Employment Professionals 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%.
Express Employment Professionals acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $730K | $730,000 | |
| FY2020 | 4 | $2.4M | $610,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 3 | $2.8M | $479,500 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 3 | $1.5M | $500,000 | |
| FY2025 | 2 | $1M | $512,500 | |
| FY2026 | 4 | $3.5M | $737,500 |
How often do these acquisition loans fail?
Fewer than 20 Express Employment Professionals 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 Express Employment Professionals resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 3 | 17.6% | $1.3M | |
| 2 | Live Oak Banking Company | 1 | 5.9% | $2M | |
| 3 | First Horizon Bank | 1 | 5.9% | $2M | |
| 4 | Truliant FCU | 1 | 5.9% | $950K | |
| 5 | Fidelity Bank | 1 | 5.9% | $909K | |
| 6 | Beacon Bank and Trust | 1 | 5.9% | $805K | |
| 7 | TowneBank | 1 | 5.9% | $800K | |
| 8 | PNC Bank, National Association | 1 | 5.9% | $750K | |
| 9 | First State Community Bank | 1 | 5.9% | $675K | |
| 10 | Oakworth Capital Bank | 1 | 5.9% | $480K |
States where Express Employment Professionals units are bought
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify Express Employment Professionals
Lenders code each loan to a NAICS industry. For Express Employment Professionals the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Employment Placement Agencies | 7 | 41.2% | $6.8M | |
| 2 | Temporary Help Services | 6 | 35.3% | $3.2M | |
| 3 | All Other Professional, Scientific, and Technical Services | 2 | 11.8% | $1.2M |
Questions buyers ask
How much do buyers borrow to buy an Express Employment Professionals franchise?
The median SBA 7(a) loan for an Express Employment Professionals resale was $675,000 across 17 loans (FY2018 to FY2026). The middle half of loans ran from $419,100 to $805,000. 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 Express Employment Professionals acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Express Employment Professionals (3, 18% of the total). Live Oak Banking Company, First Horizon Bank, Truliant FCU follow.
What interest rate and term do Express Employment Professionals acquisition loans carry?
The average initial rate at approval was 7.87% (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 an Express Employment Professionals resale riskier than other SBA-financed acquisitions?
Too few Express Employment Professionals 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 Express Employment Professionals units being bought with SBA loans?
Ohio (3), Georgia (2), Florida (2), Louisiana (1), California (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 Employment Placement Agencies acquisitions
- Ohio acquisitions
- Georgia acquisitions
- Florida acquisitions
- The Huntington National Bank
- Live Oak Banking Company
- First Horizon Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Express Employment Professional" (franchise code S4217). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.