Buying a Visiting Angels franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 43 7(a) loans to buy an existing Visiting Angels (classified mostly as Home Health Care Services), totaling $40.5M. The median loan was $571,600, 11% lower than the $645,250 median for all SBA-financed acquisitions. 17 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 Visiting Angels resale loans landed between $304,000 and $1,269,250.
- Lender experience exists. Live Oak Banking Company alone has financed 11 Visiting Angels 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 Visiting Angels resale
The median SBA 7(a) loan for a Visiting Angels resale was $571,600 across 43 loans (FY2018 to FY2026). Live Oak Banking Company, Associated Bank National Association and The Huntington National Bank have financed the most Visiting Angels 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%.
Visiting Angels acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $1.4M | $680,500 | |
| FY2019 | 3 | $1.9M | $480,000 | |
| FY2020 | 1 | $1.1M | $1,090,000 | |
| FY2021 | 4 | $5.6M | $1,081,750 | |
| FY2022 | 8 | $7.4M | $999,650 | |
| FY2023 | 6 | $5.2M | $425,000 | |
| FY2024 | 2 | $2.5M | $1,233,550 | |
| FY2025 | 7 | $8.5M | $565,000 | |
| FY2026 | 10 | $7.1M | $587,300 |
How often do these acquisition loans fail?
Fewer than 20 Visiting Angels 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 Visiting Angels resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 11 | 25.6% | $7.4M | |
| 2 | Associated Bank National Association | 4 | 9.3% | $6.6M | |
| 3 | The Huntington National Bank | 4 | 9.3% | $1.6M | |
| 4 | Old National Bank | 3 | 7.0% | $3.8M | |
| 5 | CIBC Bank USA | 3 | 7.0% | $1.6M | |
| 6 | Manufacturers and Traders Trust Company | 2 | 4.7% | $4.2M | |
| 7 | Byline Bank | 2 | 4.7% | $3.9M | |
| 8 | First Merchants Bank | 2 | 4.7% | $1.8M | |
| 9 | First Internet Bank of Indiana | 2 | 4.7% | $1.7M | |
| 10 | Western Alliance Bank | 2 | 4.7% | $1.4M |
States where Visiting Angels units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Ohio | 8 | 18.6% | $5.7M | |
| 2 | Colorado | 4 | 9.3% | $7.6M | |
| 3 | North Carolina | 4 | 9.3% | $1.8M | |
| 4 | Minnesota | 3 | 7.0% | $3.8M | |
| 5 | Virginia | 3 | 7.0% | $2.7M | |
| 6 | Massachusetts | 3 | 7.0% | $1.7M | |
| 7 | Illinois | 3 | 7.0% | $715K | |
| 8 | Florida | 2 | 4.7% | $1.7M | |
| 9 | Nevada | 2 | 4.7% | $1.4M | |
| 10 | Texas | 2 | 4.7% | $1.2M |
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsFree consultation. All 50 states.
How lenders classify Visiting Angels
Lenders code each loan to a NAICS industry. For Visiting Angels the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Home Health Care Services | 32 | 74.4% | $33M | |
| 2 | Services for the Elderly and Persons with Disabilities | 8 | 18.6% | $6.4M | |
| 3 | All Other Outpatient Care Centers | 2 | 4.7% | $924K | |
| 4 | Offices of Dentists | 1 | 2.3% | $250K |
Questions buyers ask
How much do buyers borrow to buy a Visiting Angels franchise?
The median SBA 7(a) loan for a Visiting Angels resale was $571,600 across 43 loans (FY2018 to FY2026). The middle half of loans ran from $304,000 to $1,269,250. 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 Visiting Angels acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Visiting Angels (11, 26% of the total). Associated Bank National Association, The Huntington National Bank, Old National Bank follow.
What interest rate and term do Visiting Angels acquisition loans carry?
The average initial rate at approval was 7.96% (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 Visiting Angels resale riskier than other SBA-financed acquisitions?
Too few Visiting Angels 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 Visiting Angels units being bought with SBA loans?
Ohio (8), Colorado (4), North Carolina (4), Minnesota (3), Virginia (3). 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 Home Health Care Services acquisitions
- Ohio acquisitions
- Colorado acquisitions
- North Carolina acquisitions
- Live Oak Banking Company
- Associated Bank National Association
- The Huntington National Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Visiting Angels" (franchise code S1870). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.