Sunoco resales: SBA acquisition loan data
Since FY2018, SBA lenders have approved 27 7(a) loans to buy an existing business operating under a Sunoco brand or supply agreement (classified mostly as Gasoline Stations with Convenience Stores), totaling $43.5M. The median loan was $1,550,000, 140% higher than the $645,250 median for all SBA-financed acquisitions. 10 of these loans were approved in the last two fiscal years.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Sunoco resale loans landed between $990,500 and $1,979,500.
- Lender experience exists. Metro City Bank alone has financed 8 Sunoco resales.
- Guaranty. The SBA guaranteed 76% of the dollars lent here.
- What the file leaves out. The SBA file does not record the terms of the brand or supply agreement.
Financing a Sunoco resale
The median SBA 7(a) loan for a Sunoco resale was $1,550,000 across 27 loans (FY2018 to FY2026). Metro City Bank, Open Bank and US Metro Bank have financed the most Sunoco 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%.
Sunoco acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $2.6M | $1,283,000 | |
| FY2019 | 6 | $7.8M | $1,043,300 | |
| FY2020 | 2 | $4.5M | $2,262,000 | |
| FY2021 | 2 | $4M | $1,979,500 | |
| FY2022 | 4 | $5.8M | $1,442,500 | |
| FY2023 | 1 | $1.6M | $1,550,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $8M | $1,885,000 | |
| FY2026 | 7 | $9.4M | $981,000 |
How often do these acquisition loans fail?
Fewer than 20 Sunoco 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.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Lenders financing Sunoco resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Metro City Bank | 8 | 29.6% | $14.7M | |
| 2 | Open Bank | 2 | 7.4% | $6.1M | |
| 3 | US Metro Bank | 2 | 7.4% | $2.4M | |
| 4 | GBank | 1 | 3.7% | $3.8M | |
| 5 | The Bank of Princeton | 1 | 3.7% | $2.3M | |
| 6 | VelocitySBA, LLC | 1 | 3.7% | $2.2M | |
| 7 | Southwestern National Bank | 1 | 3.7% | $1.8M | |
| 8 | Bank of the Orient | 1 | 3.7% | $1.7M | |
| 9 | Gulf Capital Bank | 1 | 3.7% | $1.6M | |
| 10 | Stone Bank | 1 | 3.7% | $1.1M |
States where Sunoco units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 13 | 48.1% | $27.1M | |
| 2 | Pennsylvania | 3 | 11.1% | $3.6M | |
| 3 | Maryland | 3 | 11.1% | $2.9M | |
| 4 | Oklahoma | 2 | 7.4% | $4.3M | |
| 5 | Idaho | 1 | 3.7% | $1.8M | |
| 6 | Florida | 1 | 3.7% | $1.1M | |
| 7 | Missouri | 1 | 3.7% | $981K | |
| 8 | Illinois | 1 | 3.7% | $770K | |
| 9 | New York | 1 | 3.7% | $728K | |
| 10 | West Virginia | 1 | 3.7% | $266K |
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
How lenders classify Sunoco
Lenders code each loan to a NAICS industry. For Sunoco the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 26 | 96.3% | $41.2M | |
| 2 | Car Washes | 1 | 3.7% | $2.3M |
Questions buyers ask
How much do buyers borrow to buy a business operating under a Sunoco brand or supply agreement?
The median SBA 7(a) loan for a Sunoco resale was $1,550,000 across 27 loans (FY2018 to FY2026). The middle half of loans ran from $990,500 to $1,979,500. 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 Sunoco acquisitions?
Metro City Bank has made the most SBA acquisition loans for Sunoco (8, 30% of the total). Open Bank, US Metro Bank, GBank follow.
What interest rate and term do Sunoco acquisition loans carry?
The average initial rate at approval was 6.92% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 25 years.
Is a Sunoco resale riskier than other SBA-financed acquisitions?
Too few Sunoco 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 Sunoco units being bought with SBA loans?
Texas (13), Pennsylvania (3), Maryland (3), Oklahoma (2), Idaho (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.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Gasoline Stations with Convenience Stores acquisitions
- Texas acquisitions
- Pennsylvania acquisitions
- Maryland acquisitions
- Metro City Bank
- Open Bank
- US Metro Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Sunoco, LLC (Various Brands) Fuel Supply Agreement" (franchise code S2631). Figures are aggregates of public SBA data and are not provided or endorsed by the brand owner or supplier.