Buying a Mountain Mike's Pizza franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 13 7(a) loans to buy an existing Mountain Mike's Pizza (classified mostly as Limited-Service Restaurants), totaling $7M. The median loan was $525,000, 19% lower than the $645,250 median for all SBA-financed acquisitions. 4 of these loans were approved in the last two fiscal years.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Mountain Mike's Pizza resale loans landed between $250,000 and $687,000.
- Lender experience exists. Live Oak Banking Company alone has financed 2 Mountain Mike's Pizza resales.
- Guaranty. The SBA guaranteed 77% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Mountain Mike's Pizza resale
The median SBA 7(a) loan for a Mountain Mike's Pizza resale was $525,000 across 13 loans (FY2018 to FY2026). Live Oak Banking Company, Celtic Bank Corporation and West Coast Community Bank have financed the most Mountain Mike's Pizza 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%.
Mountain Mike's Pizza acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $445K | $445,000 | |
| FY2019 | 2 | $411K | $205,700 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 2 | $681K | $340,600 | |
| FY2022 | 2 | $877K | $438,500 | |
| FY2023 | 1 | $786K | $786,200 | |
| FY2024 | 1 | $593K | $593,000 | |
| FY2025 | 2 | $1.9M | $967,500 | |
| FY2026 | 2 | $1.3M | $641,500 |
How often do these acquisition loans fail?
Fewer than 20 Mountain Mike's Pizza 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 Mountain Mike's Pizza resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 2 | 15.4% | $1.2M | |
| 2 | Celtic Bank Corporation | 2 | 15.4% | $1.2M | |
| 3 | West Coast Community Bank | 2 | 15.4% | $500K | |
| 4 | Bank of the Orient | 1 | 7.7% | $1.4M | |
| 5 | The Bancorp Bank National Association | 1 | 7.7% | $786K | |
| 6 | Columbia Bank | 1 | 7.7% | $687K | |
| 7 | United Business Bank | 1 | 7.7% | $445K | |
| 8 | Plumas Bank | 1 | 7.7% | $431K | |
| 9 | Open Bank | 1 | 7.7% | $190K | |
| 10 | Stearns Bank National Association | 1 | 7.7% | $161K |
States where Mountain Mike's Pizza units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 13 | 100.0% | $7M |
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify Mountain Mike's Pizza
Lenders code each loan to a NAICS industry. For Mountain Mike's Pizza the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 10 | 76.9% | $5.8M | |
| 2 | Full-Service Restaurants | 2 | 15.4% | $778K | |
| 3 | Coin-Operated Laundries and Drycleaners | 1 | 7.7% | $431K |
Questions buyers ask
How much do buyers borrow to buy a Mountain Mike's Pizza franchise?
The median SBA 7(a) loan for a Mountain Mike's Pizza resale was $525,000 across 13 loans (FY2018 to FY2026). The middle half of loans ran from $250,000 to $687,000. 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 Mountain Mike's Pizza acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Mountain Mike's Pizza (2, 15% of the total). Celtic Bank Corporation, West Coast Community Bank, Bank of the Orient follow.
What interest rate and term do Mountain Mike's Pizza acquisition loans carry?
The average initial rate at approval was 7.85% (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 Mountain Mike's Pizza resale riskier than other SBA-financed acquisitions?
Too few Mountain Mike's Pizza 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 Mountain Mike's Pizza units being bought with SBA loans?
California (13). 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.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Limited-Service Restaurants acquisitions
- California acquisitions
- Live Oak Banking Company
- Celtic Bank Corporation
- West Coast Community Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Mountain Mike's Pizza" (franchise code S1134). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.