Buying a Petland franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 13 7(a) loans to buy an existing Petland (classified mostly as Pet and Pet Supplies Retailers), totaling $21M. The median loan was $1,846,000, 186% 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 Petland resale loans landed between $596,000 and $2,100,000.
- Lender experience exists. Telhio Credit Union Inc alone has financed 4 Petland resales.
- Guaranty. The SBA guaranteed 76% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Petland resale
The median SBA 7(a) loan for a Petland resale was $1,846,000 across 13 loans (FY2018 to FY2026). Telhio Credit Union Inc, The Huntington National Bank and First Internet Bank of Indiana have financed the most Petland 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%.
Petland acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $1.1M | $1,079,000 | |
| FY2020 | 2 | $2.7M | $1,333,000 | |
| FY2021 | 1 | $2.1M | $2,077,000 | |
| FY2022 | 1 | $2.5M | $2,514,000 | |
| FY2023 | 1 | $1.4M | $1,403,200 | |
| FY2024 | 5 | $5.6M | $300,000 | |
| FY2025 | 2 | $5.7M | $2,832,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Petland 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 Petland resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Telhio Credit Union Inc | 4 | 30.8% | $4.6M | |
| 2 | The Huntington National Bank | 3 | 23.1% | $5.2M | |
| 3 | First Internet Bank of Indiana | 2 | 15.4% | $6.3M | |
| 4 | Platinum Bank | 2 | 15.4% | $2.4M | |
| 5 | Frost Bank | 1 | 7.7% | $1.8M | |
| 6 | 22nd State Bank, A Division of 22nd State Banking Company | 1 | 7.7% | $596K |
States where Petland units are bought
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do buyers borrow to buy a Petland franchise?
The median SBA 7(a) loan for a Petland resale was $1,846,000 across 13 loans (FY2018 to FY2026). The middle half of loans ran from $596,000 to $2,100,000. 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 Petland acquisitions?
Telhio Credit Union Inc has made the most SBA acquisition loans for Petland (4, 31% of the total). The Huntington National Bank, First Internet Bank of Indiana, Platinum Bank follow.
What interest rate and term do Petland acquisition loans carry?
The average initial rate at approval was 8.62% (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 Petland resale riskier than other SBA-financed acquisitions?
Too few Petland 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 Petland units being bought with SBA loans?
Florida (5), Pennsylvania (3), Texas (2), Tennessee (1), Ohio (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.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Pet and Pet Supplies Retailers acquisitions
- Florida acquisitions
- Pennsylvania acquisitions
- Texas acquisitions
- The Huntington National Bank
- First Internet Bank of Indiana
- Platinum Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Petland/Safari Stan's" (franchise code S2233). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.