Buying a Fantastic Sams franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 9 7(a) loans to buy an existing Fantastic Sams (classified mostly as Beauty Salons), totaling $3.7M. The median loan was $262,500, 59% lower than the $645,250 median for all SBA-financed acquisitions.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Fantastic Sams resale loans landed between $210,000 and $612,000.
- Lender experience exists. Old National Bank alone has financed 2 Fantastic Sams 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 Fantastic Sams resale
The median SBA 7(a) loan for a Fantastic Sams resale was $262,500 across 9 loans (FY2018 to FY2026). Old National Bank, Platinum Bank and Wells Fargo Bank National Association have financed the most Fantastic Sams 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%.
Fantastic Sams acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $776K | $155,000 | |
| FY2019 | 4 | $2.7M | $748,800 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $216K | $216,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Fantastic Sams 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 Fantastic Sams resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Old National Bank | 2 | 22.2% | $1.8M | |
| 2 | Platinum Bank | 1 | 11.1% | $612K | |
| 3 | Wells Fargo Bank National Association | 1 | 11.1% | $379K | |
| 4 | FirsTier Bank | 1 | 11.1% | $263K | |
| 5 | Bravera Bank | 1 | 11.1% | $216K | |
| 6 | Frandsen Bank and Trust | 1 | 11.1% | $210K | |
| 7 | Hawthorn Bank | 1 | 11.1% | $100K | |
| 8 | Stearns Bank National Association | 1 | 11.1% | $87K |
States where Fantastic Sams units are bought
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do buyers borrow to buy a Fantastic Sams franchise?
The median SBA 7(a) loan for a Fantastic Sams resale was $262,500 across 9 loans (FY2018 to FY2026). The middle half of loans ran from $210,000 to $612,000. 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 Fantastic Sams acquisitions?
Old National Bank has made the most SBA acquisition loans for Fantastic Sams (2, 22% of the total). Platinum Bank, Wells Fargo Bank National Association, FirsTier Bank follow.
What interest rate and term do Fantastic Sams acquisition loans carry?
The average initial rate at approval was 7.51% (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 Fantastic Sams resale riskier than other SBA-financed acquisitions?
Too few Fantastic Sams 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 Fantastic Sams units being bought with SBA loans?
Minnesota (6), Colorado (1), Kansas (1), Arizona (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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Beauty Salons acquisitions
- Minnesota acquisitions
- Colorado acquisitions
- Kansas acquisitions
- Old National Bank
- Platinum Bank
- Wells Fargo Bank National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Fantastic Sams" (franchise code S0624). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.