Buying a Sir Speedy franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 9 7(a) loans to buy an existing Sir Speedy (classified mostly as Commercial Printing (except Screen and Books)), totaling $7.2M. The median loan was $350,000, 46% lower than the $645,250 median for all SBA-financed acquisitions. 2 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 Sir Speedy resale loans landed between $150,000 and $710,000.
- Lender experience exists. Live Oak Banking Company alone has financed 2 Sir Speedy resales.
- Guaranty. The SBA guaranteed 73% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Sir Speedy resale
The median SBA 7(a) loan for a Sir Speedy resale was $350,000 across 9 loans (FY2018 to FY2026). Live Oak Banking Company, U.S. Bank, National Association and Truliant FCU have financed the most Sir Speedy 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%.
Sir Speedy acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $127K | $63,500 | |
| FY2019 | 1 | $342K | $342,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 3 | $3.7M | $350,000 | |
| FY2024 | 1 | $495K | $495,000 | |
| FY2025 | 2 | $2.6M | $1,292,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Sir Speedy 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 Sir Speedy resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 2 | 22.2% | $3.5M | |
| 2 | U.S. Bank, National Association | 2 | 22.2% | $127K | |
| 3 | Truliant FCU | 1 | 11.1% | $1.9M | |
| 4 | Port 51 Lending LLC | 1 | 11.1% | $710K | |
| 5 | Branson Bank | 1 | 11.1% | $495K | |
| 6 | Evolve Bank and Trust | 1 | 11.1% | $342K | |
| 7 | Eastern Bank | 1 | 11.1% | $150K |
States where Sir Speedy units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | North Carolina | 2 | 22.2% | $3.5M | |
| 2 | Colorado | 2 | 22.2% | $127K | |
| 3 | Delaware | 1 | 11.1% | $1.9M | |
| 4 | New Jersey | 1 | 11.1% | $710K | |
| 5 | Missouri | 1 | 11.1% | $495K | |
| 6 | Florida | 1 | 11.1% | $342K | |
| 7 | Rhode Island | 1 | 11.1% | $150K |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
How lenders classify Sir Speedy
Lenders code each loan to a NAICS industry. For Sir Speedy the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Commercial Printing (except Screen and Books) | 5 | 55.6% | $3.6M | |
| 2 | Commercial Screen Printing | 2 | 22.2% | $3.5M | |
| 3 | All Other Professional, Scientific, and Technical Services | 2 | 22.2% | $127K |
Questions buyers ask
How much do buyers borrow to buy a Sir Speedy franchise?
The median SBA 7(a) loan for a Sir Speedy resale was $350,000 across 9 loans (FY2018 to FY2026). The middle half of loans ran from $150,000 to $710,000. 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 Sir Speedy acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Sir Speedy (2, 22% of the total). U.S. Bank, National Association, Truliant FCU, Port 51 Lending LLC follow.
What interest rate and term do Sir Speedy acquisition loans carry?
The average initial rate at approval was 8.36% (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 Sir Speedy resale riskier than other SBA-financed acquisitions?
Too few Sir Speedy 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 Sir Speedy units being bought with SBA loans?
North Carolina (2), Colorado (2), Delaware (1), New Jersey (1), Missouri (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 Commercial Printing (except Screen and Books) acquisitions
- North Carolina acquisitions
- Colorado acquisitions
- Delaware acquisitions
- Live Oak Banking Company
- U.S. Bank, National Association
- Truliant FCU
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Sir Speedy" (franchise code S1576). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.