Buying a Shredder Indoor Ski and Snowboard School franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Shredder Indoor Ski and Snowboard School (classified mostly as Graphic Design Services), totaling $1.7M. The median loan was $235,000, 64% lower than the $645,250 median for all SBA-financed acquisitions.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Shredder Indoor Ski and Snowboard School resale loans landed between $144,600 and $260,000.
- Lender experience exists. ChoiceOne Bank alone has financed 2 Shredder Indoor Ski and Snowboard School 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 Shredder Indoor Ski and Snowboard School resale
The median SBA 7(a) loan for a Shredder Indoor Ski and Snowboard School resale was $235,000 across 5 loans (FY2018 to FY2026). ChoiceOne Bank, Northbrook Bank & Trust Company, National Association and Stearns Bank National Association have financed the most Shredder Indoor Ski and Snowboard School 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%.
Shredder Indoor Ski and Snowboard School acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $145K | $144,600 | |
| FY2019 | 3 | $545K | $235,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $990K | $990,000 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Shredder Indoor Ski and Snowboard School 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 Shredder Indoor Ski and Snowboard School resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | ChoiceOne Bank | 2 | 40.0% | $285K | |
| 2 | Northbrook Bank & Trust Company, National Association | 1 | 20.0% | $990K | |
| 3 | Stearns Bank National Association | 1 | 20.0% | $260K | |
| 4 | Metropolitan Economic Development Association | 1 | 20.0% | $145K |
States where Shredder Indoor Ski and Snowboard School units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Michigan | 2 | 40.0% | $285K | |
| 2 | Illinois | 1 | 20.0% | $990K | |
| 3 | North Carolina | 1 | 20.0% | $260K | |
| 4 | Minnesota | 1 | 20.0% | $145K |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
How lenders classify Shredder Indoor Ski and Snowboard School
Lenders code each loan to a NAICS industry. For Shredder Indoor Ski and Snowboard School the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Graphic Design Services | 3 | 60.0% | $430K | |
| 2 | Sign Manufacturing | 1 | 20.0% | $990K | |
| 3 | Other Business Service Centers (including Copy Shops) | 1 | 20.0% | $260K |
Questions buyers ask
How much do buyers borrow to buy a Shredder Indoor Ski and Snowboard School franchise?
The median SBA 7(a) loan for a Shredder Indoor Ski and Snowboard School resale was $235,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $144,600 to $260,000. 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 Shredder Indoor Ski and Snowboard School acquisitions?
ChoiceOne Bank has made the most SBA acquisition loans for Shredder Indoor Ski and Snowboard School (2, 40% of the total). Northbrook Bank & Trust Company, National Association, Stearns Bank National Association, Metropolitan Economic Development Association follow.
What interest rate and term do Shredder Indoor Ski and Snowboard School acquisition loans carry?
The average initial rate at approval was 7.75% (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 Shredder Indoor Ski and Snowboard School resale riskier than other SBA-financed acquisitions?
Too few Shredder Indoor Ski and Snowboard School 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 Shredder Indoor Ski and Snowboard School units being bought with SBA loans?
Michigan (2), Illinois (1), North Carolina (1), Minnesota (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.
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Related
- All Graphic Design Services acquisitions
- Michigan acquisitions
- Illinois acquisitions
- North Carolina acquisitions
- ChoiceOne Bank
- Stearns Bank National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Shredder Indoor Ski and Snowboard School" (franchise code S1573). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.