Buying a Merry Maids franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 20 7(a) loans to buy an existing Merry Maids (classified mostly as Janitorial Services), totaling $10.3M. The median loan was $561,000, 13% 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 Merry Maids resale loans landed between $217,500 and $744,000.
- Lender experience exists. Customers Bank alone has financed 9 Merry Maids 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 Merry Maids resale
The median SBA 7(a) loan for a Merry Maids resale was $561,000 across 20 loans (FY2018 to FY2026). Customers Bank, Live Oak Banking Company and North State Bank have financed the most Merry Maids 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%.
Merry Maids acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $340K | $340,000 | |
| FY2019 | 5 | $1M | $135,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 12 | $7.4M | $704,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 2 | $1.5M | $733,400 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Merry Maids 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 Merry Maids resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Customers Bank | 9 | 45.0% | $5.4M | |
| 2 | Live Oak Banking Company | 2 | 10.0% | $358K | |
| 3 | North State Bank | 1 | 5.0% | $1.1M | |
| 4 | United Community Bank | 1 | 5.0% | $835K | |
| 5 | bankcda | 1 | 5.0% | $680K | |
| 6 | Colony Bank | 1 | 5.0% | $632K | |
| 7 | Commonwealth Business Bank | 1 | 5.0% | $393K | |
| 8 | Simmons Bank | 1 | 5.0% | $340K | |
| 9 | Community Bank of Mississippi | 1 | 5.0% | $245K | |
| 10 | California Bank of Commerce, NA | 1 | 5.0% | $135K |
States where Merry Maids units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Washington | 4 | 20.0% | $3.4M | |
| 2 | California | 4 | 20.0% | $1.4M | |
| 3 | Utah | 2 | 10.0% | $1.1M | |
| 4 | Colorado | 2 | 10.0% | $794K | |
| 5 | Nevada | 2 | 10.0% | $358K | |
| 6 | North Carolina | 1 | 5.0% | $1.1M | |
| 7 | Idaho | 1 | 5.0% | $680K | |
| 8 | New York | 1 | 5.0% | $632K | |
| 9 | Texas | 1 | 5.0% | $340K | |
| 10 | Mississippi | 1 | 5.0% | $245K |
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How lenders classify Merry Maids
Lenders code each loan to a NAICS industry. For Merry Maids the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Janitorial Services | 18 | 90.0% | $9.7M | |
| 2 | All Other Personal Services | 2 | 10.0% | $523K |
Questions buyers ask
How much do buyers borrow to buy a Merry Maids franchise?
The median SBA 7(a) loan for a Merry Maids resale was $561,000 across 20 loans (FY2018 to FY2026). The middle half of loans ran from $217,500 to $744,000. 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 Merry Maids acquisitions?
Customers Bank has made the most SBA acquisition loans for Merry Maids (9, 45% of the total). Live Oak Banking Company, North State Bank, United Community Bank follow.
What interest rate and term do Merry Maids acquisition loans carry?
The average initial rate at approval was 8.26% (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 Merry Maids resale riskier than other SBA-financed acquisitions?
Too few Merry Maids 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 Merry Maids units being bought with SBA loans?
Washington (4), California (4), Utah (2), Colorado (2), Nevada (2). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Janitorial Services acquisitions
- Washington acquisitions
- California acquisitions
- Utah acquisitions
- Customers Bank
- Live Oak Banking Company
- North State Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Merry Maids" (franchise code S1106). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.