Buying a L&L HAWAIIAN BARBEQUE franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing L&L HAWAIIAN BARBEQUE (classified mostly as Limited-Service Restaurants), totaling $1.5M. The median loan was $314,000, 51% lower 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 L&L HAWAIIAN BARBEQUE resale loans landed between $200,000 and $375,000.
- Lender experience exists. Hanmi Bank alone has financed 2 L&L HAWAIIAN BARBEQUE resales.
- Guaranty. The SBA guaranteed 74% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a L&L HAWAIIAN BARBEQUE resale
The median SBA 7(a) loan for a L&L HAWAIIAN BARBEQUE resale was $314,000 across 5 loans (FY2018 to FY2026). Hanmi Bank, US Metro Bank and United Business Bank have financed the most L&L HAWAIIAN BARBEQUE 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%.
L&L HAWAIIAN BARBEQUE acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $1.2M | $287,500 | |
| FY2019 | 1 | $314K | $314,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| 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 L&L HAWAIIAN BARBEQUE 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 L&L HAWAIIAN BARBEQUE resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hanmi Bank | 2 | 40.0% | $837K | |
| 2 | US Metro Bank | 1 | 20.0% | $375K | |
| 3 | United Business Bank | 1 | 20.0% | $200K | |
| 4 | Bank of Hope | 1 | 20.0% | $60K |
States where L&L HAWAIIAN BARBEQUE units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 5 | 100.0% | $1.5M |
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Questions buyers ask
How much do buyers borrow to buy a L&L HAWAIIAN BARBEQUE franchise?
The median SBA 7(a) loan for a L&L HAWAIIAN BARBEQUE resale was $314,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $200,000 to $375,000. 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 L&L HAWAIIAN BARBEQUE acquisitions?
Hanmi Bank has made the most SBA acquisition loans for L&L HAWAIIAN BARBEQUE (2, 40% of the total). US Metro Bank, United Business Bank, Bank of Hope follow.
What interest rate and term do L&L HAWAIIAN BARBEQUE acquisition loans carry?
The average initial rate at approval was 6.50% (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 L&L HAWAIIAN BARBEQUE resale riskier than other SBA-financed acquisitions?
Too few L&L HAWAIIAN BARBEQUE 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 L&L HAWAIIAN BARBEQUE units being bought with SBA loans?
California (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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Limited-Service Restaurants acquisitions
- California acquisitions
- Hanmi Bank
- US Metro Bank
- United Business Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "L&L HAWAIIAN BARBEQUE/L&L HAWAIIAN GRILL" (franchise code S0964). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.