King Fuels resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing business operating under a King Fuels brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $8.3M. The median loan was $1,410,000, 119% higher 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 King Fuels resale loans landed between $1,250,000 and $1,489,000.
- Lender experience exists. Bank of the Orient alone has financed 2 King Fuels resales.
- Guaranty. The SBA guaranteed 80% 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 King Fuels resale
The median SBA 7(a) loan for a King Fuels resale was $1,410,000 across 5 loans (FY2018 to FY2026). Bank of the Orient, Wallis Bank and Home Bank, National Association have financed the most King Fuels 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%.
King Fuels acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $1.4M | $1,410,000 | |
| FY2020 | 1 | $1.5M | $1,489,000 | |
| FY2021 | 3 | $5.4M | $1,250,000 | |
| 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 King Fuels 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Lenders financing King Fuels resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bank of the Orient | 2 | 40.0% | $4.9M | |
| 2 | Wallis Bank | 1 | 20.0% | $1.5M | |
| 3 | Home Bank, National Association | 1 | 20.0% | $1.4M | |
| 4 | The MINT National Bank | 1 | 20.0% | $515K |
States where King Fuels units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 5 | 100.0% | $8.3M |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
Questions buyers ask
How much do buyers borrow to buy a business operating under a King Fuels brand or supply agreement?
The median SBA 7(a) loan for a King Fuels resale was $1,410,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $1,250,000 to $1,489,000. 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 King Fuels acquisitions?
Bank of the Orient has made the most SBA acquisition loans for King Fuels (2, 40% of the total). Wallis Bank, Home Bank, National Association, The MINT National Bank follow.
What interest rate and term do King Fuels acquisition loans carry?
The average initial rate at approval was 5.20% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 25 years.
Is a King Fuels resale riskier than other SBA-financed acquisitions?
Too few King Fuels 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 King Fuels units being bought with SBA loans?
Texas (5). 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 Gasoline Stations with Convenience Stores acquisitions
- Texas acquisitions
- Wallis Bank
- Home Bank, National Association
- The MINT National Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "King Fuels, Inc. (Valero) Motor Fuel Supply and Sales Agreement" (franchise code S3348). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.