Buying a Great American Cookies franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 10 7(a) loans to buy an existing Great American Cookies (classified mostly as Snack and Nonalcoholic Beverage Bars), totaling $4.5M. The median loan was $302,150, 53% lower than the $645,250 median for all SBA-financed acquisitions. 3 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 Great American Cookies resale loans landed between $261,875 and $603,525.
- Lender experience exists. PlainsCapital Bank alone has financed 2 Great American Cookies 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 Great American Cookies resale
The median SBA 7(a) loan for a Great American Cookies resale was $302,150 across 10 loans (FY2018 to FY2026). PlainsCapital Bank, Renasant Bank and VelocitySBA, LLC have financed the most Great American Cookies 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%.
Great American Cookies acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $670K | $670,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $268K | $267,500 | |
| FY2021 | 1 | $304K | $304,300 | |
| FY2022 | 4 | $1.9M | $280,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 2 | $1.2M | $591,050 | |
| FY2026 | 1 | $150K | $150,000 |
How often do these acquisition loans fail?
Fewer than 20 Great American Cookies 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 Great American Cookies resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | PlainsCapital Bank | 2 | 20.0% | $1.5M | |
| 2 | Renasant Bank | 2 | 20.0% | $572K | |
| 3 | VelocitySBA, LLC | 1 | 10.0% | $778K | |
| 4 | The Huntington National Bank | 1 | 10.0% | $670K | |
| 5 | Prosperity Bank | 1 | 10.0% | $404K | |
| 6 | Bank3 | 1 | 10.0% | $260K | |
| 7 | Live Oak Banking Company | 1 | 10.0% | $150K | |
| 8 | The Central Trust Bank | 1 | 10.0% | $108K |
States where Great American Cookies units are bought
Seller note standby terms and third-party consents are reviewed before closing.
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How lenders classify Great American Cookies
Lenders code each loan to a NAICS industry. For Great American Cookies the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Snack and Nonalcoholic Beverage Bars | 5 | 50.0% | $3.3M | |
| 2 | Limited-Service Restaurants | 3 | 30.0% | $562K | |
| 3 | All Other Specialty Food Retailers | 1 | 10.0% | $404K |
Questions buyers ask
How much do buyers borrow to buy a Great American Cookies franchise?
The median SBA 7(a) loan for a Great American Cookies resale was $302,150 across 10 loans (FY2018 to FY2026). The middle half of loans ran from $261,875 to $603,525. 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 Great American Cookies acquisitions?
PlainsCapital Bank has made the most SBA acquisition loans for Great American Cookies (2, 20% of the total). Renasant Bank, VelocitySBA, LLC, The Huntington National Bank follow.
What interest rate and term do Great American Cookies acquisition loans carry?
The average initial rate at approval was 6.88% (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 Great American Cookies resale riskier than other SBA-financed acquisitions?
Too few Great American Cookies 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 Great American Cookies units being bought with SBA loans?
Texas (4), Georgia (2), Wisconsin (1), Tennessee (1), Ohio (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 Snack and Nonalcoholic Beverage Bars acquisitions
- Texas acquisitions
- Georgia acquisitions
- Wisconsin acquisitions
- PlainsCapital Bank
- Renasant Bank
- VelocitySBA, LLC
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Great American Cookies" (franchise code S0742). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.