Buying a Great Harvest franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 14 7(a) loans to buy an existing Great Harvest (classified mostly as Baked Goods Retailers), totaling $5.6M. The median loan was $348,000, 46% 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 Harvest resale loans landed between $169,550 and $574,300.
- Lender experience exists. Fifth Third Bank alone has financed 1 Great Harvest resales.
- Guaranty. The SBA guaranteed 78% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Great Harvest resale
The median SBA 7(a) loan for a Great Harvest resale was $348,000 across 14 loans (FY2018 to FY2026). Fifth Third Bank, Idaho Central CU and Celtic Bank Corporation have financed the most Great Harvest 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 Harvest acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $686K | $100,000 | |
| FY2019 | 4 | $1.6M | $235,600 | |
| FY2020 | 1 | $520K | $520,000 | |
| FY2021 | 2 | $1.2M | $589,500 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $592K | $592,400 | |
| FY2025 | 1 | $606K | $606,000 | |
| FY2026 | 2 | $446K | $223,000 |
How often do these acquisition loans fail?
Fewer than 20 Great Harvest 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 Great Harvest resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fifth Third Bank | 1 | 7.1% | $1M | |
| 2 | Idaho Central CU | 1 | 7.1% | $779K | |
| 3 | Celtic Bank Corporation | 1 | 7.1% | $606K | |
| 4 | Idaho Trust Bank | 1 | 7.1% | $592K | |
| 5 | IncredibleBank | 1 | 7.1% | $520K | |
| 6 | Frandsen Bank and Trust | 1 | 7.1% | $499K | |
| 7 | Altana Federal Credit Union | 1 | 7.1% | $400K | |
| 8 | Bank Michigan | 1 | 7.1% | $296K | |
| 9 | Citizens Bank | 1 | 7.1% | $243K | |
| 10 | State Bank of Southern Utah | 1 | 7.1% | $228K |
States where Great Harvest units are bought
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
How lenders classify Great Harvest
Lenders code each loan to a NAICS industry. For Great Harvest the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Baked Goods Retailers | 5 | 35.7% | $2.3M | |
| 2 | Limited-Service Restaurants | 3 | 21.4% | $790K | |
| 3 | Retail Bakeries | 3 | 21.4% | $415K | |
| 4 | Snack and Nonalcoholic Beverage Bars | 2 | 14.3% | $1.6M | |
| 5 | Commercial Bakeries | 1 | 7.1% | $499K |
Questions buyers ask
How much do buyers borrow to buy a Great Harvest franchise?
The median SBA 7(a) loan for a Great Harvest resale was $348,000 across 14 loans (FY2018 to FY2026). The middle half of loans ran from $169,550 to $574,300. 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 Harvest acquisitions?
Fifth Third Bank has made the most SBA acquisition loans for Great Harvest (1, 7% of the total). Idaho Central CU, Celtic Bank Corporation, Idaho Trust Bank follow.
What interest rate and term do Great Harvest acquisition loans carry?
The average initial rate at approval was 7.49% (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 Harvest resale riskier than other SBA-financed acquisitions?
Too few Great Harvest 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 Harvest units being bought with SBA loans?
Utah (4), Idaho (2), Colorado (2), Georgia (1), Alabama (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.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- All Baked Goods Retailers acquisitions
- Utah acquisitions
- Idaho acquisitions
- Colorado acquisitions
- Fifth Third Bank
- Idaho Central CU
- Celtic Bank Corporation
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Great Harvest" (franchise code S0744). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.