Buying a Goodcents franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Goodcents (classified mostly as Limited-Service Restaurants), totaling $1.2M. The median loan was $213,000, 67% lower than the $645,250 median for all SBA-financed acquisitions.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Goodcents resale loans landed between $207,400 and $230,000.
- Lender experience exists. UMB Bank, National Association alone has financed 2 Goodcents 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 Goodcents resale
The median SBA 7(a) loan for a Goodcents resale was $213,000 across 5 loans (FY2018 to FY2026). UMB Bank, National Association, Midwest Regional Bank and BankVista have financed the most Goodcents 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%.
Goodcents acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $160K | $160,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $213K | $213,000 | |
| FY2021 | 3 | $822K | $230,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Goodcents 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.
The purchase agreement decides what you bought, not the loan approval.
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Lenders financing Goodcents resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | UMB Bank, National Association | 2 | 40.0% | $615K | |
| 2 | Midwest Regional Bank | 1 | 20.0% | $213K | |
| 3 | BankVista | 1 | 20.0% | $207K | |
| 4 | Small Business Bank | 1 | 20.0% | $160K |
States where Goodcents units are bought
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsFree consultation. All 50 states.
Questions buyers ask
How much do buyers borrow to buy a Goodcents franchise?
The median SBA 7(a) loan for a Goodcents resale was $213,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $207,400 to $230,000. 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 Goodcents acquisitions?
UMB Bank, National Association has made the most SBA acquisition loans for Goodcents (2, 40% of the total). Midwest Regional Bank, BankVista, Small Business Bank follow.
What interest rate and term do Goodcents acquisition loans carry?
The average initial rate at approval was 5.95% (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 Goodcents resale riskier than other SBA-financed acquisitions?
Too few Goodcents 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 Goodcents units being bought with SBA loans?
Kansas (3), Missouri (1), Minnesota (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 Limited-Service Restaurants acquisitions
- Kansas acquisitions
- Missouri acquisitions
- Minnesota acquisitions
- UMB Bank, National Association
- Midwest Regional Bank
- BankVista
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Goodcents" (franchise code S0733). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.