Buying a Mathnasium franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 9 7(a) loans to buy an existing Mathnasium (classified mostly as Exam Preparation and Tutoring), totaling $5.9M. The median loan was $327,000, 49% lower than the $645,250 median for all SBA-financed acquisitions. 2 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 Mathnasium resale loans landed between $176,400 and $375,000.
- Lender experience exists. BancFirst alone has financed 2 Mathnasium 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 Mathnasium resale
The median SBA 7(a) loan for a Mathnasium resale was $327,000 across 9 loans (FY2018 to FY2026). BancFirst, Stearns Bank National Association and Bank of America, National Association have financed the most Mathnasium 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%.
Mathnasium acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $176K | $176,400 | |
| FY2019 | 1 | $160K | $160,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $198K | $198,000 | |
| FY2023 | 1 | $395K | $395,000 | |
| FY2024 | 3 | $761K | $327,000 | |
| FY2025 | 1 | $375K | $375,000 | |
| FY2026 | 1 | $3.8M | $3,840,600 |
How often do these acquisition loans fail?
Fewer than 20 Mathnasium 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 Mathnasium resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | BancFirst | 2 | 22.2% | $722K | |
| 2 | Stearns Bank National Association | 2 | 22.2% | $233K | |
| 3 | Bank of America, National Association | 1 | 11.1% | $3.8M | |
| 4 | United Community Bank | 1 | 11.1% | $375K | |
| 5 | Banesco USA | 1 | 11.1% | $361K | |
| 6 | ServisFirst Bank | 1 | 11.1% | $198K | |
| 7 | Brightbridge, Inc. | 1 | 11.1% | $176K |
States where Mathnasium units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Oklahoma | 2 | 22.2% | $722K | |
| 2 | Florida | 1 | 11.1% | $3.8M | |
| 3 | North Carolina | 1 | 11.1% | $375K | |
| 4 | California | 1 | 11.1% | $361K | |
| 5 | Alabama | 1 | 11.1% | $198K | |
| 6 | Tennessee | 1 | 11.1% | $176K | |
| 7 | Connecticut | 1 | 11.1% | $160K | |
| 8 | Illinois | 1 | 11.1% | $73K |
That draft favors the seller. We review it for the buyer, line by line.
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How lenders classify Mathnasium
Lenders code each loan to a NAICS industry. For Mathnasium the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Exam Preparation and Tutoring | 8 | 88.9% | $5.6M | |
| 2 | Educational Support Services | 1 | 11.1% | $327K |
Questions buyers ask
How much do buyers borrow to buy a Mathnasium franchise?
The median SBA 7(a) loan for a Mathnasium resale was $327,000 across 9 loans (FY2018 to FY2026). The middle half of loans ran from $176,400 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 Mathnasium acquisitions?
BancFirst has made the most SBA acquisition loans for Mathnasium (2, 22% of the total). Stearns Bank National Association, Bank of America, National Association, United Community Bank follow.
What interest rate and term do Mathnasium acquisition loans carry?
The average initial rate at approval was 8.78% (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 Mathnasium resale riskier than other SBA-financed acquisitions?
Too few Mathnasium 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 Mathnasium units being bought with SBA loans?
Oklahoma (2), Florida (1), North Carolina (1), California (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 Exam Preparation and Tutoring acquisitions
- Oklahoma acquisitions
- Florida acquisitions
- North Carolina acquisitions
- BancFirst
- Stearns Bank National Association
- Bank of America, National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Mathnasium and Mathnasium, The Math Learning Center" (franchise code S1089). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.