Buying a Fleet Feet Sports franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 7 7(a) loans to buy an existing Fleet Feet Sports (classified mostly as Shoe Retailers), totaling $3.6M. The median loan was $402,000, 38% lower than the $645,250 median for all SBA-financed acquisitions. 2 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 Fleet Feet Sports resale loans landed between $280,550 and $661,050.
- Lender experience exists. CFBank National Association alone has financed 1 Fleet Feet Sports 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 Fleet Feet Sports resale
The median SBA 7(a) loan for a Fleet Feet Sports resale was $402,000 across 7 loans (FY2018 to FY2026). CFBank National Association, TowneBank and Merchants Bank of Indiana have financed the most Fleet Feet Sports 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%.
Fleet Feet Sports acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 3 | $1.8M | $402,000 | |
| FY2020 | 1 | $215K | $215,000 | |
| FY2021 | 1 | $242K | $242,100 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $672K | $672,100 | |
| FY2026 | 1 | $650K | $650,000 |
How often do these acquisition loans fail?
Fewer than 20 Fleet Feet Sports 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 Fleet Feet Sports resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | CFBank National Association | 1 | 14.3% | $1.1M | |
| 2 | TowneBank | 1 | 14.3% | $672K | |
| 3 | Merchants Bank of Indiana | 1 | 14.3% | $650K | |
| 4 | SouthState Bank, National Association | 1 | 14.3% | $402K | |
| 5 | Wells Fargo Bank National Association | 1 | 14.3% | $319K | |
| 6 | Brightbridge, Inc. | 1 | 14.3% | $242K | |
| 7 | Trustmark Bank | 1 | 14.3% | $215K |
States where Fleet Feet Sports units are bought
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify Fleet Feet Sports
Lenders code each loan to a NAICS industry. For Fleet Feet Sports the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Shoe Retailers | 5 | 71.4% | $3M | |
| 2 | Sporting Goods Retailers | 1 | 14.3% | $402K | |
| 3 | Clothing and Clothing Accessories Retailers | 1 | 14.3% | $215K |
Questions buyers ask
How much do buyers borrow to buy a Fleet Feet Sports franchise?
The median SBA 7(a) loan for a Fleet Feet Sports resale was $402,000 across 7 loans (FY2018 to FY2026). The middle half of loans ran from $280,550 to $661,050. 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 Fleet Feet Sports acquisitions?
CFBank National Association has made the most SBA acquisition loans for Fleet Feet Sports (1, 14% of the total). TowneBank, Merchants Bank of Indiana, SouthState Bank, National Association follow.
What interest rate and term do Fleet Feet Sports acquisition loans carry?
The average initial rate at approval was 7.78% (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 Fleet Feet Sports resale riskier than other SBA-financed acquisitions?
Too few Fleet Feet Sports 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 Fleet Feet Sports units being bought with SBA loans?
Florida (2), Ohio (1), Virginia (1), Georgia (1), Tennessee (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.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Shoe Retailers acquisitions
- Florida acquisitions
- Ohio acquisitions
- Virginia acquisitions
- TowneBank
- Merchants Bank of Indiana
- SouthState Bank, National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Fleet Feet Sports" (franchise code S0656). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.