Buying a Miracle Method Surface Refinishing franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 6 7(a) loans to buy an existing Miracle Method Surface Refinishing (classified mostly as All Other Specialty Trade Contractors), totaling $2.7M. The median loan was $486,500, 25% 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 Miracle Method Surface Refinishing resale loans landed between $373,250 and $610,700.
- Lender experience exists. Zions Bancorporation, National Association alone has financed 2 Miracle Method Surface Refinishing resales.
- Guaranty. The SBA guaranteed 80% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Miracle Method Surface Refinishing resale
The median SBA 7(a) loan for a Miracle Method Surface Refinishing resale was $486,500 across 6 loans (FY2018 to FY2026). Zions Bancorporation, National Association, Kendall Bank and Fifth Third Bank have financed the most Miracle Method Surface Refinishing 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%.
Miracle Method Surface Refinishing acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $648K | $647,600 | |
| FY2019 | 1 | $340K | $340,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 3 | $998K | $473,000 | |
| FY2022 | 1 | $757K | $756,500 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Miracle Method Surface Refinishing 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 Miracle Method Surface Refinishing resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Zions Bancorporation, National Association | 2 | 33.3% | $498K | |
| 2 | Kendall Bank | 1 | 16.7% | $757K | |
| 3 | Fifth Third Bank | 1 | 16.7% | $648K | |
| 4 | Village Bank | 1 | 16.7% | $500K | |
| 5 | Stearns Bank National Association | 1 | 16.7% | $340K |
States where Miracle Method Surface Refinishing units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Utah | 2 | 33.3% | $498K | |
| 2 | Missouri | 1 | 16.7% | $757K | |
| 3 | North Carolina | 1 | 16.7% | $648K | |
| 4 | Minnesota | 1 | 16.7% | $500K | |
| 5 | Texas | 1 | 16.7% | $340K |
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify Miracle Method Surface Refinishing
Lenders code each loan to a NAICS industry. For Miracle Method Surface Refinishing the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | All Other Specialty Trade Contractors | 2 | 33.3% | $1.3M | |
| 2 | Other Building Finishing Contractors | 2 | 33.3% | $498K | |
| 3 | Other Personal and Household Goods Repair and Maintenance | 1 | 16.7% | $648K | |
| 4 | Residential Remodelers | 1 | 16.7% | $340K |
Questions buyers ask
How much do buyers borrow to buy a Miracle Method Surface Refinishing franchise?
The median SBA 7(a) loan for a Miracle Method Surface Refinishing resale was $486,500 across 6 loans (FY2018 to FY2026). The middle half of loans ran from $373,250 to $610,700. 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 Miracle Method Surface Refinishing acquisitions?
Zions Bancorporation, National Association has made the most SBA acquisition loans for Miracle Method Surface Refinishing (2, 33% of the total). Kendall Bank, Fifth Third Bank, Village Bank follow.
What interest rate and term do Miracle Method Surface Refinishing acquisition loans carry?
The average initial rate at approval was 6.52% (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 Miracle Method Surface Refinishing resale riskier than other SBA-financed acquisitions?
Too few Miracle Method Surface Refinishing 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 Miracle Method Surface Refinishing units being bought with SBA loans?
Utah (2), Missouri (1), North Carolina (1), Minnesota (1), Texas (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.
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Related
- All All Other Specialty Trade Contractors acquisitions
- Utah acquisitions
- Missouri acquisitions
- North Carolina acquisitions
- Zions Bancorporation, National Association
- Kendall Bank
- Fifth Third Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Miracle Method Surface Refinishing" (franchise code S2218). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.