Parent Petroleum resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 7 7(a) loans to buy an existing business operating under a Parent Petroleum brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $15.3M. The median loan was $1,875,000, 191% higher 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 Parent Petroleum resale loans landed between $1,485,000 and $2,462,500.
- Lender experience exists. Byline Bank alone has financed 6 Parent Petroleum resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record the terms of the brand or supply agreement.
Financing a Parent Petroleum resale
The median SBA 7(a) loan for a Parent Petroleum resale was $1,875,000 across 7 loans (FY2018 to FY2026). Byline Bank and Centerstone SBA Lending, Inc. have financed the most Parent Petroleum 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%.
Parent Petroleum acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $1.7M | $1,710,000 | |
| FY2021 | 1 | $1.3M | $1,260,000 | |
| FY2022 | 2 | $6.7M | $3,370,000 | |
| FY2023 | 1 | $2.4M | $2,425,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $1.3M | $1,260,000 | |
| FY2026 | 1 | $1.9M | $1,875,000 |
How often do these acquisition loans fail?
Fewer than 20 Parent Petroleum 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 Parent Petroleum resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Byline Bank | 6 | 85.7% | $14M | |
| 2 | Centerstone SBA Lending, Inc. | 1 | 14.3% | $1.3M |
States where Parent Petroleum units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Illinois | 7 | 100.0% | $15.3M |
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do buyers borrow to buy a business operating under a Parent Petroleum brand or supply agreement?
The median SBA 7(a) loan for a Parent Petroleum resale was $1,875,000 across 7 loans (FY2018 to FY2026). The middle half of loans ran from $1,485,000 to $2,462,500. 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 Parent Petroleum acquisitions?
Byline Bank has made the most SBA acquisition loans for Parent Petroleum (6, 86% of the total). Centerstone SBA Lending, Inc. follow.
What interest rate and term do Parent Petroleum acquisition loans carry?
The average initial rate at approval was 7.50% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 25 years.
Is a Parent Petroleum resale riskier than other SBA-financed acquisitions?
Too few Parent Petroleum 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 Parent Petroleum units being bought with SBA loans?
Illinois (7). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- All Gasoline Stations with Convenience Stores acquisitions
- Illinois acquisitions
- Byline Bank
- Centerstone SBA Lending, Inc.
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Parent Petroleum, Inc. (Multi-Brands) Retail Dealer Fuel Purchase Contract" (franchise code S6763). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.