GPM Empire resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 6 7(a) loans to buy an existing business operating under a GPM Empire brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $4.5M. The median loan was $686,050, 6% higher than the $645,250 median for all SBA-financed acquisitions. 1 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 GPM Empire resale loans landed between $541,750 and $787,525.
- Lender experience exists. First Internet Bank of Indiana alone has financed 3 GPM Empire resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record the terms of the brand or supply agreement.
Financing a GPM Empire resale
The median SBA 7(a) loan for a GPM Empire resale was $686,050 across 6 loans (FY2018 to FY2026). First Internet Bank of Indiana, US Metro Bank and Celtic Bank Corporation have financed the most GPM Empire 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%.
GPM Empire acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $705K | $705,100 | |
| FY2023 | 4 | $2.3M | $583,500 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 1 | $1.5M | $1,516,000 |
How often do these acquisition loans fail?
Fewer than 20 GPM Empire 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 GPM Empire resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | First Internet Bank of Indiana | 3 | 50.0% | $1.6M | |
| 2 | US Metro Bank | 1 | 16.7% | $1.5M | |
| 3 | Celtic Bank Corporation | 1 | 16.7% | $705K | |
| 4 | Southwestern National Bank | 1 | 16.7% | $667K |
States where GPM Empire units are bought
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Questions buyers ask
How much do buyers borrow to buy a business operating under a GPM Empire brand or supply agreement?
The median SBA 7(a) loan for a GPM Empire resale was $686,050 across 6 loans (FY2018 to FY2026). The middle half of loans ran from $541,750 to $787,525. 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 GPM Empire acquisitions?
First Internet Bank of Indiana has made the most SBA acquisition loans for GPM Empire (3, 50% of the total). US Metro Bank, Celtic Bank Corporation, Southwestern National Bank follow.
What interest rate and term do GPM Empire acquisition loans carry?
The average initial rate at approval was 8.96% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 15.8 years.
Is a GPM Empire resale riskier than other SBA-financed acquisitions?
Too few GPM Empire 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 GPM Empire units being bought with SBA loans?
Illinois (3), Texas (2), 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Gasoline Stations with Convenience Stores acquisitions
- Illinois acquisitions
- Texas acquisitions
- Tennessee acquisitions
- First Internet Bank of Indiana
- US Metro Bank
- Celtic Bank Corporation
- All franchise brands
Brand name as recorded by lenders in the SBA file: "GPM Empire, LLC (Multi Brands) Petroleum Products Supply Agreement and Security Agreement" (franchise code S6409). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.