Buying a SYNERGY HomeCare franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing SYNERGY HomeCare (classified mostly as Home Health Care Services), totaling $6.4M. The median loan was $825,500, 28% higher than the $645,250 median for all SBA-financed acquisitions. 4 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 SYNERGY HomeCare resale loans landed between $361,250 and $1,182,500.
- Lender experience exists. CIBC Bank USA alone has financed 2 SYNERGY HomeCare resales.
- Guaranty. The SBA guaranteed 77% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a SYNERGY HomeCare resale
The median SBA 7(a) loan for a SYNERGY HomeCare resale was $825,500 across 8 loans (FY2018 to FY2026). CIBC Bank USA, Live Oak Banking Company and Port 51 Lending LLC have financed the most SYNERGY HomeCare 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%.
SYNERGY HomeCare acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $282K | $282,400 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 1 | $365K | $365,000 | |
| FY2021 | 1 | $678K | $678,000 | |
| FY2022 | 1 | $1.4M | $1,380,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 1 | $1.2M | $1,180,000 | |
| FY2026 | 3 | $2.5M | $973,000 |
How often do these acquisition loans fail?
Fewer than 20 SYNERGY HomeCare 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 SYNERGY HomeCare resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | CIBC Bank USA | 2 | 25.0% | $1.7M | |
| 2 | Live Oak Banking Company | 2 | 25.0% | $1.5M | |
| 3 | Port 51 Lending LLC | 1 | 12.5% | $1.2M | |
| 4 | Arizona Financial Credit Union | 1 | 12.5% | $973K | |
| 5 | United Community Bank | 1 | 12.5% | $678K | |
| 6 | Midwest Regional Bank | 1 | 12.5% | $282K |
States where SYNERGY HomeCare units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Wyoming | 1 | 12.5% | $1.4M | |
| 2 | New Jersey | 1 | 12.5% | $1.2M | |
| 3 | California | 1 | 12.5% | $1.2M | |
| 4 | Arizona | 1 | 12.5% | $973K | |
| 5 | Kansas | 1 | 12.5% | $678K | |
| 6 | Colorado | 1 | 12.5% | $365K | |
| 7 | Connecticut | 1 | 12.5% | $350K | |
| 8 | Texas | 1 | 12.5% | $282K |
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How lenders classify SYNERGY HomeCare
Lenders code each loan to a NAICS industry. For SYNERGY HomeCare the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Home Health Care Services | 7 | 87.5% | $5M | |
| 2 | Services for the Elderly and Persons with Disabilities | 1 | 12.5% | $1.4M |
Questions buyers ask
How much do buyers borrow to buy a SYNERGY HomeCare franchise?
The median SBA 7(a) loan for a SYNERGY HomeCare resale was $825,500 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $361,250 to $1,182,500. 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 SYNERGY HomeCare acquisitions?
CIBC Bank USA has made the most SBA acquisition loans for SYNERGY HomeCare (2, 25% of the total). Live Oak Banking Company, Port 51 Lending LLC, Arizona Financial Credit Union follow.
What interest rate and term do SYNERGY HomeCare acquisition loans carry?
The average initial rate at approval was 8.25% (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 SYNERGY HomeCare resale riskier than other SBA-financed acquisitions?
Too few SYNERGY HomeCare 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 SYNERGY HomeCare units being bought with SBA loans?
Wyoming (1), New Jersey (1), California (1), Arizona (1), Kansas (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.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Home Health Care Services acquisitions
- Wyoming acquisitions
- New Jersey acquisitions
- California acquisitions
- CIBC Bank USA
- Live Oak Banking Company
- Port 51 Lending LLC
- All franchise brands
Brand name as recorded by lenders in the SBA file: "SYNERGY HomeCare" (franchise code S1516). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.