Buying a Homewatch CareGivers franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 6 7(a) loans to buy an existing Homewatch CareGivers (classified mostly as Home Health Care Services), totaling $7.9M. The median loan was $924,500, 43% higher than the $645,250 median for all SBA-financed acquisitions. 4 of these loans were approved in the last two fiscal years.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Homewatch CareGivers resale loans landed between $660,300 and $1,937,500.
- Lender experience exists. Live Oak Banking Company alone has financed 2 Homewatch CareGivers 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 Homewatch CareGivers resale
The median SBA 7(a) loan for a Homewatch CareGivers resale was $924,500 across 6 loans (FY2018 to FY2026). Live Oak Banking Company, Associated Bank National Association and Wilmington Savings Fund Society FSB have financed the most Homewatch CareGivers 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%.
Homewatch CareGivers 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 | $2.2M | $2,207,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $640K | $640,400 | |
| FY2025 | 2 | $1.6M | $776,000 | |
| FY2026 | 2 | $3.5M | $1,730,000 |
How often do these acquisition loans fail?
Fewer than 20 Homewatch CareGivers 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Lenders financing Homewatch CareGivers resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 2 | 33.3% | $3.5M | |
| 2 | Associated Bank National Association | 2 | 33.3% | $1.6M | |
| 3 | Wilmington Savings Fund Society FSB | 1 | 16.7% | $2.2M | |
| 4 | The Huntington National Bank | 1 | 16.7% | $640K |
States where Homewatch CareGivers units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Minnesota | 2 | 33.3% | $1.6M | |
| 2 | Texas | 2 | 33.3% | $1.4M | |
| 3 | Georgia | 1 | 16.7% | $2.7M | |
| 4 | New Jersey | 1 | 16.7% | $2.2M |
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do buyers borrow to buy a Homewatch CareGivers franchise?
The median SBA 7(a) loan for a Homewatch CareGivers resale was $924,500 across 6 loans (FY2018 to FY2026). The middle half of loans ran from $660,300 to $1,937,500. 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 Homewatch CareGivers acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Homewatch CareGivers (2, 33% of the total). Associated Bank National Association, Wilmington Savings Fund Society FSB, The Huntington National Bank follow.
What interest rate and term do Homewatch CareGivers acquisition loans carry?
The average initial rate at approval was 8.25% (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 Homewatch CareGivers resale riskier than other SBA-financed acquisitions?
Too few Homewatch CareGivers 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 Homewatch CareGivers units being bought with SBA loans?
Minnesota (2), Texas (2), Georgia (1), New Jersey (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 Home Health Care Services acquisitions
- Minnesota acquisitions
- Texas acquisitions
- Georgia acquisitions
- Live Oak Banking Company
- Associated Bank National Association
- Wilmington Savings Fund Society FSB
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Homewatch CareGivers" (franchise code S0817). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.