Buying a Wingate franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing Wingate (classified mostly as Hotels (except Casino Hotels) and Motels), totaling $32.3M. The median loan was $4,617,500, 616% higher than the $645,250 median for all SBA-financed acquisitions. 1 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 Wingate resale loans landed between $3,375,000 and $5,000,000.
- Lender experience exists. GBank alone has financed 2 Wingate 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 Wingate resale
The median SBA 7(a) loan for a Wingate resale was $4,617,500 across 8 loans (FY2018 to FY2026). GBank, Open Bank and The Bank of Princeton have financed the most Wingate 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%.
Wingate acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $5M | $5,000,000 | |
| FY2019 | 1 | $3M | $3,000,000 | |
| FY2020 | 1 | $4.4M | $4,435,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 2 | $8.3M | $4,150,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 2 | $6.6M | $3,279,000 | |
| FY2025 | 1 | $5M | $5,000,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Wingate 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 Wingate resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | GBank | 2 | 25.0% | $6.6M | |
| 2 | Open Bank | 1 | 12.5% | $5M | |
| 3 | The Bank of Princeton | 1 | 12.5% | $5M | |
| 4 | Celtic Bank Corporation | 1 | 12.5% | $4.8M | |
| 5 | First Western SBLC, LLC d/b/a Peachtree Group | 1 | 12.5% | $4.4M | |
| 6 | US Metro Bank | 1 | 12.5% | $3.5M | |
| 7 | Metro City Bank | 1 | 12.5% | $3M |
States where Wingate units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Georgia | 3 | 37.5% | $12.8M | |
| 2 | West Virginia | 2 | 25.0% | $5.1M | |
| 3 | New York | 1 | 12.5% | $5M | |
| 4 | Texas | 1 | 12.5% | $5M | |
| 5 | Michigan | 1 | 12.5% | $4.4M |
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do buyers borrow to buy a Wingate franchise?
The median SBA 7(a) loan for a Wingate resale was $4,617,500 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $3,375,000 to $5,000,000. 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 Wingate acquisitions?
GBank has made the most SBA acquisition loans for Wingate (2, 25% of the total). Open Bank, The Bank of Princeton, Celtic Bank Corporation follow.
What interest rate and term do Wingate acquisition loans carry?
The average initial rate at approval was 7.19% (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 Wingate resale riskier than other SBA-financed acquisitions?
Too few Wingate 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 Wingate units being bought with SBA loans?
Georgia (3), West Virginia (2), New York (1), Texas (1), Michigan (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 Hotels (except Casino Hotels) and Motels acquisitions
- Georgia acquisitions
- West Virginia acquisitions
- New York acquisitions
- GBank
- Open Bank
- The Bank of Princeton
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Wingate by Wyndham" (franchise code S1938). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.