Buying a PuroClean franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 6 7(a) loans to buy an existing PuroClean (classified mostly as Remediation Services), totaling $6.4M. The median loan was $1,160,000, 80% higher than the $645,250 median for all SBA-financed acquisitions. 3 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 PuroClean resale loans landed between $547,500 and $1,407,250.
- Lender experience exists. Beacon Bank and Trust alone has financed 1 PuroClean resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a PuroClean resale
The median SBA 7(a) loan for a PuroClean resale was $1,160,000 across 6 loans (FY2018 to FY2026). Beacon Bank and Trust, First Bank and TowneBank have financed the most PuroClean 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%.
PuroClean acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $186K | $186,300 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $1.5M | $1,483,000 | |
| FY2024 | 1 | $1.2M | $1,180,000 | |
| FY2025 | 1 | $350K | $350,000 | |
| FY2026 | 2 | $3.2M | $1,616,000 |
How often do these acquisition loans fail?
Fewer than 20 PuroClean 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 PuroClean resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beacon Bank and Trust | 1 | 16.7% | $2.1M | |
| 2 | First Bank | 1 | 16.7% | $1.5M | |
| 3 | TowneBank | 1 | 16.7% | $1.2M | |
| 4 | First National Bank of Pennsylvania | 1 | 16.7% | $1.1M | |
| 5 | Capital Bank, National Association | 1 | 16.7% | $350K | |
| 6 | Bank OZK | 1 | 16.7% | $186K |
States where PuroClean units are bought
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify PuroClean
Lenders code each loan to a NAICS industry. For PuroClean the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Remediation Services | 4 | 66.7% | $4.1M | |
| 2 | Other Services to Buildings and Dwellings | 1 | 16.7% | $1.2M | |
| 3 | Carpet and Upholstery Cleaning Services | 1 | 16.7% | $1.1M |
Questions buyers ask
How much do buyers borrow to buy a PuroClean franchise?
The median SBA 7(a) loan for a PuroClean resale was $1,160,000 across 6 loans (FY2018 to FY2026). The middle half of loans ran from $547,500 to $1,407,250. 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 PuroClean acquisitions?
Beacon Bank and Trust has made the most SBA acquisition loans for PuroClean (1, 17% of the total). First Bank, TowneBank, First National Bank of Pennsylvania follow.
What interest rate and term do PuroClean acquisition loans carry?
The average initial rate at approval was 9.21% (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 PuroClean resale riskier than other SBA-financed acquisitions?
Too few PuroClean 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 PuroClean units being bought with SBA loans?
Georgia (1), Colorado (1), Indiana (1), Wisconsin (1), Virginia (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.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- All Remediation Services acquisitions
- Georgia acquisitions
- Colorado acquisitions
- Indiana acquisitions
- Beacon Bank and Trust
- First Bank
- TowneBank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "PuroClean" (franchise code S1367). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.