Buying a Filta Environmental Kitchen Solutions franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 6 7(a) loans to buy an existing Filta Environmental Kitchen Solutions (classified mostly as Janitorial Services), totaling $2.9M. The median loan was $222,900, 65% lower than the $645,250 median for all SBA-financed acquisitions. 1 of these loans were approved in the last two fiscal years.
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 Filta Environmental Kitchen Solutions resale loans landed between $148,950 and $320,250.
- Lender experience exists. T Bank, National Association alone has financed 1 Filta Environmental Kitchen Solutions 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 Filta Environmental Kitchen Solutions resale
The median SBA 7(a) loan for a Filta Environmental Kitchen Solutions resale was $222,900 across 6 loans (FY2018 to FY2026). T Bank, National Association, Celtic Bank Corporation and Academy Bank National Association have financed the most Filta Environmental Kitchen Solutions 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%.
Filta Environmental Kitchen Solutions acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $104K | $103,500 | |
| FY2019 | 1 | $191K | $190,800 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 2 | $390K | $195,000 | |
| FY2022 | 1 | $342K | $342,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 1 | $1.9M | $1,915,300 |
How often do these acquisition loans fail?
Fewer than 20 Filta Environmental Kitchen Solutions 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Lenders financing Filta Environmental Kitchen Solutions resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | T Bank, National Association | 1 | 16.7% | $1.9M | |
| 2 | Celtic Bank Corporation | 1 | 16.7% | $342K | |
| 3 | Academy Bank National Association | 1 | 16.7% | $255K | |
| 4 | Manufacturers and Traders Trust Company | 1 | 16.7% | $191K | |
| 5 | Eastern Bank | 1 | 16.7% | $135K | |
| 6 | Stearns Bank National Association | 1 | 16.7% | $104K |
States where Filta Environmental Kitchen Solutions units are bought
Seller note standby terms and third-party consents are reviewed before closing.
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How lenders classify Filta Environmental Kitchen Solutions
Lenders code each loan to a NAICS industry. For Filta Environmental Kitchen Solutions the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Janitorial Services | 2 | 33.3% | $2M | |
| 2 | Food Service Contractors | 1 | 16.7% | $342K | |
| 3 | Other Waste Collection | 1 | 16.7% | $255K | |
| 4 | Mobile Food Services | 1 | 16.7% | $191K | |
| 5 | Exterminating and Pest Control Services | 1 | 16.7% | $135K |
Questions buyers ask
How much do buyers borrow to buy a Filta Environmental Kitchen Solutions franchise?
The median SBA 7(a) loan for a Filta Environmental Kitchen Solutions resale was $222,900 across 6 loans (FY2018 to FY2026). The middle half of loans ran from $148,950 to $320,250. 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 Filta Environmental Kitchen Solutions acquisitions?
T Bank, National Association has made the most SBA acquisition loans for Filta Environmental Kitchen Solutions (1, 17% of the total). Celtic Bank Corporation, Academy Bank National Association, Manufacturers and Traders Trust Company follow.
What interest rate and term do Filta Environmental Kitchen Solutions acquisition loans carry?
The average initial rate at approval was 7.12% (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 Filta Environmental Kitchen Solutions resale riskier than other SBA-financed acquisitions?
Too few Filta Environmental Kitchen Solutions 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 Filta Environmental Kitchen Solutions units being bought with SBA loans?
Nevada (1), Maryland (1), Colorado (1), Delaware (1), New Hampshire (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 Janitorial Services acquisitions
- Nevada acquisitions
- Maryland acquisitions
- Colorado acquisitions
- T Bank, National Association
- Celtic Bank Corporation
- Manufacturers and Traders Trust Company
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Filta Environmental Kitchen Solutions" (franchise code S0638). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.