Buying a Slumberland Furniture franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Slumberland Furniture (classified mostly as Furniture Retailers), totaling $11.7M. The median loan was $1,510,500, 134% higher than the $645,250 median for all SBA-financed acquisitions. 4 of these loans were approved in the last two fiscal years.
The purchase agreement decides what you bought, not the loan approval.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Slumberland Furniture resale loans landed between $466,200 and $4,535,000.
- Lender experience exists. Bell Bank alone has financed 2 Slumberland Furniture 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 Slumberland Furniture resale
The median SBA 7(a) loan for a Slumberland Furniture resale was $1,510,500 across 5 loans (FY2018 to FY2026). Bell Bank, Merchants Bank of Indiana and Live Oak Banking Company have financed the most Slumberland Furniture 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%.
Slumberland Furniture acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $150K | $150,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $466K | $466,200 | |
| FY2026 | 3 | $11M | $4,535,000 |
How often do these acquisition loans fail?
Fewer than 20 Slumberland Furniture 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Lenders financing Slumberland Furniture resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bell Bank | 2 | 40.0% | $2M | |
| 2 | Merchants Bank of Indiana | 1 | 20.0% | $5M | |
| 3 | Live Oak Banking Company | 1 | 20.0% | $4.5M | |
| 4 | Citizens Bank & Trust Co | 1 | 20.0% | $150K |
States where Slumberland Furniture units are bought
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do buyers borrow to buy a Slumberland Furniture franchise?
The median SBA 7(a) loan for a Slumberland Furniture resale was $1,510,500 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $466,200 to $4,535,000. 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 Slumberland Furniture acquisitions?
Bell Bank has made the most SBA acquisition loans for Slumberland Furniture (2, 40% of the total). Merchants Bank of Indiana, Live Oak Banking Company, Citizens Bank & Trust Co follow.
What interest rate and term do Slumberland Furniture acquisition loans carry?
The average initial rate at approval was 8.40% (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 Slumberland Furniture resale riskier than other SBA-financed acquisitions?
Too few Slumberland Furniture 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 Slumberland Furniture units being bought with SBA loans?
Iowa (3), Minnesota (2). 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 Furniture Retailers acquisitions
- Iowa acquisitions
- Minnesota acquisitions
- Bell Bank
- Merchants Bank of Indiana
- Live Oak Banking Company
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Slumberland Furniture" (franchise code S1584). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.