Buying a Philly Pretzel Factory franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing Philly Pretzel Factory (classified mostly as Snack and Nonalcoholic Beverage Bars), totaling $1.8M. The median loan was $175,000, 73% lower than the $645,250 median for all SBA-financed acquisitions. 1 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 Philly Pretzel Factory resale loans landed between $122,500 and $274,125.
- Lender experience exists. CRF Small Business Loan Company, LLC alone has financed 2 Philly Pretzel Factory 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 Philly Pretzel Factory resale
The median SBA 7(a) loan for a Philly Pretzel Factory resale was $175,000 across 8 loans (FY2018 to FY2026). CRF Small Business Loan Company, LLC, TD Bank, National Association and PNC Bank, National Association have financed the most Philly Pretzel Factory 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%.
Philly Pretzel Factory acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $373K | $186,250 | |
| FY2019 | 2 | $300K | $150,000 | |
| FY2020 | 1 | $556K | $556,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $130K | $130,000 | |
| FY2023 | 1 | $268K | $268,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $150K | $150,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Philly Pretzel Factory 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 Philly Pretzel Factory resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | CRF Small Business Loan Company, LLC | 2 | 25.0% | $756K | |
| 2 | TD Bank, National Association | 2 | 25.0% | $180K | |
| 3 | PNC Bank, National Association | 1 | 12.5% | $293K | |
| 4 | The Huntington National Bank | 1 | 12.5% | $268K | |
| 5 | Fidelity Deposit and Discount Bank | 1 | 12.5% | $150K | |
| 6 | Somerset Regal Bank | 1 | 12.5% | $130K |
States where Philly Pretzel Factory units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | New Jersey | 5 | 62.5% | $803K | |
| 2 | Pennsylvania | 3 | 37.5% | $974K |
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How lenders classify Philly Pretzel Factory
Lenders code each loan to a NAICS industry. For Philly Pretzel Factory the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Snack and Nonalcoholic Beverage Bars | 4 | 50.0% | $886K | |
| 2 | Baked Goods Retailers | 3 | 37.5% | $691K | |
| 3 | Limited-Service Restaurants | 1 | 12.5% | $200K |
Questions buyers ask
How much do buyers borrow to buy a Philly Pretzel Factory franchise?
The median SBA 7(a) loan for a Philly Pretzel Factory resale was $175,000 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $122,500 to $274,125. 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 Philly Pretzel Factory acquisitions?
CRF Small Business Loan Company, LLC has made the most SBA acquisition loans for Philly Pretzel Factory (2, 25% of the total). TD Bank, National Association, PNC Bank, National Association, The Huntington National Bank follow.
What interest rate and term do Philly Pretzel Factory acquisition loans carry?
The average initial rate at approval was 7.81% (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 Philly Pretzel Factory resale riskier than other SBA-financed acquisitions?
Too few Philly Pretzel Factory 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 Philly Pretzel Factory units being bought with SBA loans?
New Jersey (5), Pennsylvania (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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Snack and Nonalcoholic Beverage Bars acquisitions
- New Jersey acquisitions
- Pennsylvania acquisitions
- CRF Small Business Loan Company, LLC
- TD Bank, National Association
- PNC Bank, National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Philly Pretzel Factory" (franchise code S1298). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.