Buying a Minuteman Press franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 34 7(a) loans to buy an existing Minuteman Press (classified mostly as Commercial Printing (except Screen and Books)), totaling $18.8M. The median loan was $400,450, 38% lower than the $645,250 median for all SBA-financed acquisitions. 14 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 Minuteman Press resale loans landed between $187,750 and $633,150.
- Lender experience exists. The Huntington National Bank alone has financed 5 Minuteman Press 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 Minuteman Press resale
The median SBA 7(a) loan for a Minuteman Press resale was $400,450 across 34 loans (FY2018 to FY2026). The Huntington National Bank, Neighborhood National Bank and Columbia Bank have financed the most Minuteman Press 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%.
Minuteman Press acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $417K | $139,200 | |
| FY2019 | 2 | $1.2M | $607,500 | |
| FY2020 | 1 | $275K | $275,000 | |
| FY2021 | 4 | $865K | $153,450 | |
| FY2022 | 1 | $1.4M | $1,380,000 | |
| FY2023 | 3 | $2M | $646,200 | |
| FY2024 | 6 | $5.2M | $400,450 | |
| FY2025 | 9 | $3.3M | $255,000 | |
| FY2026 | 5 | $4.1M | $425,000 |
How often do these acquisition loans fail?
Fewer than 20 Minuteman Press 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 Minuteman Press resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 5 | 14.7% | $1.8M | |
| 2 | Neighborhood National Bank | 3 | 8.8% | $1.9M | |
| 3 | Columbia Bank | 3 | 8.8% | $1.3M | |
| 4 | North State Bank | 2 | 5.9% | $1.1M | |
| 5 | Citizens Bank | 1 | 2.9% | $2.5M | |
| 6 | Bankwell Bank | 1 | 2.9% | $2.4M | |
| 7 | First Business Bank | 1 | 2.9% | $1.4M | |
| 8 | American Momentum Bank | 1 | 2.9% | $1.2M | |
| 9 | Gulf Coast Bank and Trust Company | 1 | 2.9% | $846K | |
| 10 | Provident Bank | 1 | 2.9% | $594K |
States where Minuteman Press units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 7 | 20.6% | $4.1M | |
| 2 | Texas | 4 | 11.8% | $4.6M | |
| 3 | Washington | 3 | 8.8% | $1.5M | |
| 4 | Pennsylvania | 3 | 8.8% | $1.1M | |
| 5 | Minnesota | 3 | 8.8% | $508K | |
| 6 | New Jersey | 2 | 5.9% | $694K | |
| 7 | Ohio | 2 | 5.9% | $387K | |
| 8 | North Carolina | 1 | 2.9% | $2.5M | |
| 9 | Oregon | 1 | 2.9% | $1.4M | |
| 10 | Wisconsin | 1 | 2.9% | $465K |
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify Minuteman Press
Lenders code each loan to a NAICS industry. For Minuteman Press the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Commercial Printing (except Screen and Books) | 25 | 73.5% | $15.2M | |
| 2 | All Other Professional, Scientific, and Technical Services | 3 | 8.8% | $1.4M | |
| 3 | Other Business Service Centers (including Copy Shops) | 3 | 8.8% | $1.4M | |
| 4 | Commercial Screen Printing | 1 | 2.9% | $230K |
Questions buyers ask
How much do buyers borrow to buy a Minuteman Press franchise?
The median SBA 7(a) loan for a Minuteman Press resale was $400,450 across 34 loans (FY2018 to FY2026). The middle half of loans ran from $187,750 to $633,150. 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 Minuteman Press acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Minuteman Press (5, 15% of the total). Neighborhood National Bank, Columbia Bank, North State Bank follow.
What interest rate and term do Minuteman Press acquisition loans carry?
The average initial rate at approval was 8.71% (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 Minuteman Press resale riskier than other SBA-financed acquisitions?
Too few Minuteman Press 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 Minuteman Press units being bought with SBA loans?
California (7), Texas (4), Washington (3), Pennsylvania (3), Minnesota (3). 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 Commercial Printing (except Screen and Books) acquisitions
- California acquisitions
- Texas acquisitions
- Washington acquisitions
- The Huntington National Bank
- Columbia Bank
- North State Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Minuteman Press" (franchise code S1117). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.