Buying a Mosquito Joe franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing Mosquito Joe (classified mostly as Exterminating and Pest Control Services), totaling $12.1M. The median loan was $525,000, 19% lower than the $645,250 median for all SBA-financed acquisitions. 12 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 Mosquito Joe resale loans landed between $175,000 and $802,000.
- Lender experience exists. The Huntington National Bank alone has financed 8 Mosquito Joe 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 Mosquito Joe resale
The median SBA 7(a) loan for a Mosquito Joe resale was $525,000 across 17 loans (FY2018 to FY2026). The Huntington National Bank, Live Oak Banking Company and Stock Yards Bank & Trust Company have financed the most Mosquito Joe 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%.
Mosquito Joe acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $2.5M | $2,454,100 | |
| FY2020 | 1 | $727K | $726,800 | |
| FY2021 | 1 | $525K | $525,000 | |
| FY2022 | 1 | $535K | $535,000 | |
| FY2023 | 1 | $230K | $229,600 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 4 | $2.4M | $242,500 | |
| FY2026 | 8 | $5.3M | $493,200 |
How often do these acquisition loans fail?
Fewer than 20 Mosquito Joe 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 Mosquito Joe resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 8 | 47.1% | $3.6M | |
| 2 | Live Oak Banking Company | 6 | 35.3% | $5.1M | |
| 3 | Stock Yards Bank & Trust Company | 2 | 11.8% | $956K | |
| 4 | Truist Bank | 1 | 5.9% | $2.5M |
States where Mosquito Joe units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | New Hampshire | 4 | 23.5% | $3M | |
| 2 | New York | 2 | 11.8% | $1.9M | |
| 3 | Connecticut | 2 | 11.8% | $1.5M | |
| 4 | Ohio | 2 | 11.8% | $956K | |
| 5 | California | 2 | 11.8% | $836K | |
| 6 | Indiana | 2 | 11.8% | $435K | |
| 7 | Maryland | 1 | 5.9% | $2.5M | |
| 8 | New Jersey | 1 | 5.9% | $535K | |
| 9 | South Carolina | 1 | 5.9% | $525K |
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How lenders classify Mosquito Joe
Lenders code each loan to a NAICS industry. For Mosquito Joe the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Exterminating and Pest Control Services | 15 | 88.2% | $11.7M | |
| 2 | All Other Professional, Scientific, and Technical Services | 2 | 11.8% | $435K |
Questions buyers ask
How much do buyers borrow to buy a Mosquito Joe franchise?
The median SBA 7(a) loan for a Mosquito Joe resale was $525,000 across 17 loans (FY2018 to FY2026). The middle half of loans ran from $175,000 to $802,000. 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 Mosquito Joe acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Mosquito Joe (8, 47% of the total). Live Oak Banking Company, Stock Yards Bank & Trust Company, Truist Bank follow.
What interest rate and term do Mosquito Joe acquisition loans carry?
The average initial rate at approval was 7.92% (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 Mosquito Joe resale riskier than other SBA-financed acquisitions?
Too few Mosquito Joe 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 Mosquito Joe units being bought with SBA loans?
New Hampshire (4), New York (2), Connecticut (2), Ohio (2), California (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.
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Related
- All Exterminating and Pest Control Services acquisitions
- New Hampshire acquisitions
- New York acquisitions
- Connecticut acquisitions
- The Huntington National Bank
- Live Oak Banking Company
- Stock Yards Bank & Trust Company
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Mosquito Joe" (franchise code S1131). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.