Buying a Stretch Lab franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 7 7(a) loans to buy an existing Stretch Lab (classified mostly as Fitness and Recreational Sports Centers), totaling $3.5M. The median loan was $306,000, 53% lower than the $645,250 median for all SBA-financed acquisitions. 6 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 Stretch Lab resale loans landed between $206,000 and $725,000.
- Lender experience exists. Gulf Coast Bank and Trust Company alone has financed 2 Stretch Lab 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 Stretch Lab resale
The median SBA 7(a) loan for a Stretch Lab resale was $306,000 across 7 loans (FY2018 to FY2026). Gulf Coast Bank and Trust Company, The Huntington National Bank and Live Oak Banking Company have financed the most Stretch Lab 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%.
Stretch Lab acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $650K | $650,000 | |
| FY2025 | 2 | $1.1M | $553,000 | |
| FY2026 | 4 | $1.7M | $206,000 |
How often do these acquisition loans fail?
Fewer than 20 Stretch Lab 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 Stretch Lab resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gulf Coast Bank and Trust Company | 2 | 28.6% | $1.9M | |
| 2 | The Huntington National Bank | 2 | 28.6% | $182K | |
| 3 | Live Oak Banking Company | 1 | 14.3% | $800K | |
| 4 | Celtic Bank Corporation | 1 | 14.3% | $306K | |
| 5 | Truliant FCU | 1 | 14.3% | $275K |
States where Stretch Lab units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Georgia | 2 | 28.6% | $182K | |
| 2 | New York | 1 | 14.3% | $1.3M | |
| 3 | Virginia | 1 | 14.3% | $800K | |
| 4 | North Carolina | 1 | 14.3% | $650K | |
| 5 | California | 1 | 14.3% | $306K | |
| 6 | Texas | 1 | 14.3% | $275K |
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How lenders classify Stretch Lab
Lenders code each loan to a NAICS industry. For Stretch Lab the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fitness and Recreational Sports Centers | 6 | 85.7% | $3.2M | |
| 2 | All Other Amusement and Recreation Industries | 1 | 14.3% | $275K |
Questions buyers ask
How much do buyers borrow to buy a Stretch Lab franchise?
The median SBA 7(a) loan for a Stretch Lab resale was $306,000 across 7 loans (FY2018 to FY2026). The middle half of loans ran from $206,000 to $725,000. 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 Stretch Lab acquisitions?
Gulf Coast Bank and Trust Company has made the most SBA acquisition loans for Stretch Lab (2, 29% of the total). The Huntington National Bank, Live Oak Banking Company, Celtic Bank Corporation follow.
What interest rate and term do Stretch Lab acquisition loans carry?
The average initial rate at approval was 9.57% (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 Stretch Lab resale riskier than other SBA-financed acquisitions?
Too few Stretch Lab 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 Stretch Lab units being bought with SBA loans?
Georgia (2), New York (1), Virginia (1), North Carolina (1), California (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 Fitness and Recreational Sports Centers acquisitions
- Georgia acquisitions
- New York acquisitions
- Virginia acquisitions
- Gulf Coast Bank and Trust Company
- The Huntington National Bank
- Live Oak Banking Company
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Stretch Lab" (franchise code S3245). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.