SEI Fuel Services resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 16 7(a) loans to buy an existing business operating under a SEI Fuel Services brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $31.5M. The median loan was $2,017,500, 213% higher than the $645,250 median for all SBA-financed acquisitions. 1 of these loans were approved in the last two fiscal years.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of SEI Fuel Services resale loans landed between $1,302,750 and $2,573,500.
- Lender experience exists. Metro City Bank alone has financed 4 SEI Fuel Services resales.
- Guaranty. The SBA guaranteed 76% 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 SEI Fuel Services resale
The median SBA 7(a) loan for a SEI Fuel Services resale was $2,017,500 across 16 loans (FY2018 to FY2026). Metro City Bank, First Financial Bank and IncredibleBank have financed the most SEI Fuel Services 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%.
SEI Fuel Services acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.4M | $1,355,000 | |
| FY2019 | 2 | $3.5M | $1,740,000 | |
| FY2020 | 3 | $4.8M | $1,600,000 | |
| FY2021 | 4 | $9.5M | $2,314,000 | |
| FY2022 | 3 | $5.7M | $1,900,000 | |
| FY2023 | 1 | $1.5M | $1,500,000 | |
| FY2024 | 1 | $2.9M | $2,878,000 | |
| FY2025 | 1 | $2.3M | $2,308,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 SEI Fuel Services 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 SEI Fuel Services resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Metro City Bank | 4 | 25.0% | $8.9M | |
| 2 | First Financial Bank | 1 | 6.3% | $3.7M | |
| 3 | IncredibleBank | 1 | 6.3% | $3.1M | |
| 4 | First State Bank | 1 | 6.3% | $2.9M | |
| 5 | Wallis Bank | 1 | 6.3% | $2.3M | |
| 6 | The MINT National Bank | 1 | 6.3% | $2.3M | |
| 7 | Hanmi Bank | 1 | 6.3% | $1.9M | |
| 8 | Plains State Bank | 1 | 6.3% | $1.6M | |
| 9 | Home Bank, National Association | 1 | 6.3% | $1.4M | |
| 10 | First United Bank and Trust Company | 1 | 6.3% | $1.1M |
States where SEI Fuel Services units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 16 | 100.0% | $31.5M |
Seller note standby terms and third-party consents are reviewed before closing.
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How lenders classify SEI Fuel Services
Lenders code each loan to a NAICS industry. For SEI Fuel Services the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 15 | 93.8% | $30.4M | |
| 2 | Convenience Retailers | 1 | 6.3% | $1.1M |
Questions buyers ask
How much do buyers borrow to buy a business operating under a SEI Fuel Services brand or supply agreement?
The median SBA 7(a) loan for a SEI Fuel Services resale was $2,017,500 across 16 loans (FY2018 to FY2026). The middle half of loans ran from $1,302,750 to $2,573,500. 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 SEI Fuel Services acquisitions?
Metro City Bank has made the most SBA acquisition loans for SEI Fuel Services (4, 25% of the total). First Financial Bank, IncredibleBank, First State Bank follow.
What interest rate and term do SEI Fuel Services acquisition loans carry?
The average initial rate at approval was 6.08% (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 SEI Fuel Services resale riskier than other SBA-financed acquisitions?
Too few SEI Fuel Services 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 SEI Fuel Services units being bought with SBA loans?
Texas (16). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Gasoline Stations with Convenience Stores acquisitions
- Texas acquisitions
- Metro City Bank
- First Financial Bank
- IncredibleBank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "SEI Fuel Services, Inc (Multiple Brands) Motor Fuel Supply & Security Agreement" (franchise code S2436). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.