Buying a Seniors Helping Seniors franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Seniors Helping Seniors (classified mostly as Services for the Elderly and Persons with Disabilities), totaling $2.1M. The median loan was $494,500, 23% lower than the $645,250 median for all SBA-financed acquisitions. 1 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 Seniors Helping Seniors resale loans landed between $189,900 and $500,000.
- Lender experience exists. Beacon Bank and Trust alone has financed 1 Seniors Helping Seniors 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 Seniors Helping Seniors resale
The median SBA 7(a) loan for a Seniors Helping Seniors resale was $494,500 across 5 loans (FY2018 to FY2026). Beacon Bank and Trust, Plumas Bank and First Bank of the Lake have financed the most Seniors Helping Seniors 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%.
Seniors Helping Seniors acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 2 | $690K | $344,950 | |
| FY2020 | 2 | $924K | $462,150 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $495K | $494,500 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Seniors Helping Seniors 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.
The purchase agreement decides what you bought, not the loan approval.
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Lenders financing Seniors Helping Seniors resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beacon Bank and Trust | 1 | 20.0% | $750K | |
| 2 | Plumas Bank | 1 | 20.0% | $500K | |
| 3 | First Bank of the Lake | 1 | 20.0% | $495K | |
| 4 | Wells Fargo Bank National Association | 1 | 20.0% | $190K | |
| 5 | Michigan State University Federal Credit Union | 1 | 20.0% | $174K |
States where Seniors Helping Seniors units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Pennsylvania | 1 | 20.0% | $750K | |
| 2 | Nevada | 1 | 20.0% | $500K | |
| 3 | Florida | 1 | 20.0% | $495K | |
| 4 | Texas | 1 | 20.0% | $190K | |
| 5 | Michigan | 1 | 20.0% | $174K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How lenders classify Seniors Helping Seniors
Lenders code each loan to a NAICS industry. For Seniors Helping Seniors the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Services for the Elderly and Persons with Disabilities | 2 | 40.0% | $995K | |
| 2 | Home Health Care Services | 2 | 40.0% | $924K | |
| 3 | Other Residential Care Facilities | 1 | 20.0% | $190K |
Questions buyers ask
How much do buyers borrow to buy a Seniors Helping Seniors franchise?
The median SBA 7(a) loan for a Seniors Helping Seniors resale was $494,500 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $189,900 to $500,000. 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 Seniors Helping Seniors acquisitions?
Beacon Bank and Trust has made the most SBA acquisition loans for Seniors Helping Seniors (1, 20% of the total). Plumas Bank, First Bank of the Lake, Wells Fargo Bank National Association follow.
What interest rate and term do Seniors Helping Seniors acquisition loans carry?
The average initial rate at approval was 8.24% (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 Seniors Helping Seniors resale riskier than other SBA-financed acquisitions?
Too few Seniors Helping Seniors 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 Seniors Helping Seniors units being bought with SBA loans?
Pennsylvania (1), Nevada (1), Florida (1), Texas (1), Michigan (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.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Services for the Elderly and Persons with Disabilities acquisitions
- Pennsylvania acquisitions
- Nevada acquisitions
- Florida acquisitions
- Beacon Bank and Trust
- Plumas Bank
- First Bank of the Lake
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Seniors Helping Seniors" (franchise code S3973). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.