Buying a Two Men and a Truck franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 19 7(a) loans to buy an existing Two Men and a Truck (classified mostly as Used Household and Office Goods Moving), totaling $26.1M. The median loan was $1,200,000, 86% higher than the $645,250 median for all SBA-financed acquisitions. 3 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 Two Men and a Truck resale loans landed between $566,000 and $1,653,800.
- Lender experience exists. Stock Yards Bank & Trust Company alone has financed 6 Two Men and a Truck resales.
- Guaranty. The SBA guaranteed 76% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Two Men and a Truck resale
The median SBA 7(a) loan for a Two Men and a Truck resale was $1,200,000 across 19 loans (FY2018 to FY2026). Stock Yards Bank & Trust Company, Live Oak Banking Company and Pinnacle Bank have financed the most Two Men and a Truck 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%.
Two Men and a Truck acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $562K | $562,000 | |
| FY2019 | 6 | $5.8M | $619,750 | |
| FY2020 | 2 | $2.9M | $1,439,850 | |
| FY2021 | 1 | $1.6M | $1,627,900 | |
| FY2022 | 3 | $5M | $694,400 | |
| FY2023 | 1 | $1.5M | $1,461,700 | |
| FY2024 | 2 | $3.3M | $1,645,750 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 3 | $5.6M | $1,575,900 |
How often do these acquisition loans fail?
Fewer than 20 Two Men and a Truck 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 Two Men and a Truck resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Stock Yards Bank & Trust Company | 6 | 31.6% | $8.6M | |
| 2 | Live Oak Banking Company | 4 | 21.1% | $6.9M | |
| 3 | Pinnacle Bank | 1 | 5.3% | $3.4M | |
| 4 | Celtic Bank Corporation | 1 | 5.3% | $1.7M | |
| 5 | Regent Bank | 1 | 5.3% | $1.6M | |
| 6 | Minnwest Bank | 1 | 5.3% | $1.2M | |
| 7 | Wells Fargo Bank National Association | 1 | 5.3% | $697K | |
| 8 | Wilmington Savings Fund Society FSB | 1 | 5.3% | $570K | |
| 9 | First-Citizens Bank & Trust Company | 1 | 5.3% | $562K | |
| 10 | Bank of America, National Association | 1 | 5.3% | $542K |
States where Two Men and a Truck units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 4 | 21.1% | $4.9M | |
| 2 | Illinois | 2 | 10.5% | $4.3M | |
| 3 | Ohio | 2 | 10.5% | $4.1M | |
| 4 | Kentucky | 2 | 10.5% | $3.6M | |
| 5 | Massachusetts | 1 | 5.3% | $1.7M | |
| 6 | Connecticut | 1 | 5.3% | $1.6M | |
| 7 | Pennsylvania | 1 | 5.3% | $1.5M | |
| 8 | Minnesota | 1 | 5.3% | $1.2M | |
| 9 | Florida | 1 | 5.3% | $1.1M | |
| 10 | New Jersey | 1 | 5.3% | $570K |
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
How lenders classify Two Men and a Truck
Lenders code each loan to a NAICS industry. For Two Men and a Truck the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Used Household and Office Goods Moving | 16 | 84.2% | $20.4M | |
| 2 | General Freight Trucking, Local | 2 | 10.5% | $4.1M |
Questions buyers ask
How much do buyers borrow to buy a Two Men and a Truck franchise?
The median SBA 7(a) loan for a Two Men and a Truck resale was $1,200,000 across 19 loans (FY2018 to FY2026). The middle half of loans ran from $566,000 to $1,653,800. 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 Two Men and a Truck acquisitions?
Stock Yards Bank & Trust Company has made the most SBA acquisition loans for Two Men and a Truck (6, 32% of the total). Live Oak Banking Company, Pinnacle Bank, Celtic Bank Corporation follow.
What interest rate and term do Two Men and a Truck acquisition loans carry?
The average initial rate at approval was 6.66% (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 Two Men and a Truck resale riskier than other SBA-financed acquisitions?
Too few Two Men and a Truck 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 Two Men and a Truck units being bought with SBA loans?
Texas (4), Illinois (2), Ohio (2), Kentucky (2), Massachusetts (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.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Used Household and Office Goods Moving acquisitions
- Texas acquisitions
- Illinois acquisitions
- Ohio acquisitions
- Stock Yards Bank & Trust Company
- Live Oak Banking Company
- Pinnacle Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Two Men and a Truck" (franchise code S1822). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.