Buying a Fastest Labs franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing Fastest Labs (classified mostly as Testing Laboratories and Services), totaling $1.9M. The median loan was $207,500, 68% lower than the $645,250 median for all SBA-financed acquisitions. 2 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 Fastest Labs resale loans landed between $161,750 and $278,750.
- Lender experience exists. Frost Bank alone has financed 3 Fastest Labs 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 Fastest Labs resale
The median SBA 7(a) loan for a Fastest Labs resale was $207,500 across 8 loans (FY2018 to FY2026). Frost Bank, Security State Bank and Trust and St Cloud Financial Credit Union have financed the most Fastest Labs 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%.
Fastest Labs acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $235K | $235,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 2 | $279K | $139,450 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 2 | $341K | $170,500 | |
| FY2024 | 1 | $403K | $403,000 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 2 | $595K | $297,500 |
How often do these acquisition loans fail?
Fewer than 20 Fastest Labs 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 Fastest Labs resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Frost Bank | 3 | 37.5% | $459K | |
| 2 | Security State Bank and Trust | 1 | 12.5% | $403K | |
| 3 | St Cloud Financial Credit Union | 1 | 12.5% | $335K | |
| 4 | Truliant FCU | 1 | 12.5% | $260K | |
| 5 | Telhio Credit Union Inc | 1 | 12.5% | $235K | |
| 6 | LiftFund, Inc. | 1 | 12.5% | $161K |
States where Fastest Labs units are bought
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How lenders classify Fastest Labs
Lenders code each loan to a NAICS industry. For Fastest Labs the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Testing Laboratories and Services | 3 | 37.5% | $745K | |
| 2 | All Other Professional, Scientific, and Technical Services | 2 | 25.0% | $495K | |
| 3 | Medical Laboratories | 2 | 25.0% | $278K | |
| 4 | All Other Miscellaneous Ambulatory Health Care Services | 1 | 12.5% | $335K |
Questions buyers ask
How much do buyers borrow to buy a Fastest Labs franchise?
The median SBA 7(a) loan for a Fastest Labs resale was $207,500 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $161,750 to $278,750. 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 Fastest Labs acquisitions?
Frost Bank has made the most SBA acquisition loans for Fastest Labs (3, 38% of the total). Security State Bank and Trust, St Cloud Financial Credit Union, Truliant FCU follow.
What interest rate and term do Fastest Labs acquisition loans carry?
The average initial rate at approval was 8.24% (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 Fastest Labs resale riskier than other SBA-financed acquisitions?
Too few Fastest Labs 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 Fastest Labs units being bought with SBA loans?
Texas (4), Minnesota (1), Nevada (1), Ohio (1), Georgia (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 Testing Laboratories and Services acquisitions
- Texas acquisitions
- Minnesota acquisitions
- Nevada acquisitions
- Frost Bank
- Truliant FCU
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Fastest Labs" (franchise code S2184). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.