Phillips 66 resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing business operating under a Phillips 66 brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $44.6M. The median loan was $2,250,000, 249% higher than the $645,250 median for all SBA-financed acquisitions. 3 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 Phillips 66 resale loans landed between $1,560,000 and $3,175,000.
- Lender experience exists. PCB Bank alone has financed 4 Phillips 66 resales.
- Guaranty. The SBA guaranteed 77% 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 Phillips 66 resale
The median SBA 7(a) loan for a Phillips 66 resale was $2,250,000 across 17 loans (FY2018 to FY2026). PCB Bank, Readycap Lending, LLC and UniBank have financed the most Phillips 66 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%.
Phillips 66 acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.4M | $1,425,000 | |
| FY2019 | 1 | $1.7M | $1,680,000 | |
| FY2020 | 3 | $3.5M | $1,439,000 | |
| FY2021 | 3 | $5.4M | $1,560,000 | |
| FY2022 | 2 | $6.3M | $3,137,500 | |
| FY2023 | 1 | $5M | $5,000,000 | |
| FY2024 | 3 | $8.7M | $2,250,000 | |
| FY2025 | 3 | $12.6M | $5,000,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Phillips 66 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Lenders financing Phillips 66 resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | PCB Bank | 4 | 23.5% | $10.4M | |
| 2 | Readycap Lending, LLC | 2 | 11.8% | $6.5M | |
| 3 | UniBank | 2 | 11.8% | $3.2M | |
| 4 | Commonwealth Business Bank | 2 | 11.8% | $3.1M | |
| 5 | Open Bank | 2 | 11.8% | $2.6M | |
| 6 | Bank of Hope | 1 | 5.9% | $5M | |
| 7 | Mountain Pacific Bank | 1 | 5.9% | $5M | |
| 8 | Mission Valley Bank | 1 | 5.9% | $3.2M | |
| 9 | East West Bank | 1 | 5.9% | $3.1M | |
| 10 | US Metro Bank | 1 | 5.9% | $2.6M |
States where Phillips 66 units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Washington | 11 | 64.7% | $30.2M | |
| 2 | Oregon | 3 | 17.6% | $8.3M | |
| 3 | California | 3 | 17.6% | $6.1M |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do buyers borrow to buy a business operating under a Phillips 66 brand or supply agreement?
The median SBA 7(a) loan for a Phillips 66 resale was $2,250,000 across 17 loans (FY2018 to FY2026). The middle half of loans ran from $1,560,000 to $3,175,000. 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 Phillips 66 acquisitions?
PCB Bank has made the most SBA acquisition loans for Phillips 66 (4, 24% of the total). Readycap Lending, LLC, UniBank, Commonwealth Business Bank follow.
What interest rate and term do Phillips 66 acquisition loans carry?
The average initial rate at approval was 6.94% (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 Phillips 66 resale riskier than other SBA-financed acquisitions?
Too few Phillips 66 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 Phillips 66 units being bought with SBA loans?
Washington (11), Oregon (3), California (3). 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 Gasoline Stations with Convenience Stores acquisitions
- Washington acquisitions
- Oregon acquisitions
- California acquisitions
- PCB Bank
- Readycap Lending, LLC
- UniBank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Phillips 66 Branded Reseller Agreement" (franchise code S2518). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.