Boat Dealers: SBA business acquisition loan data
40 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Boat Dealers (NAICS 441222), totaling $59.2M. Median loan $1,370,000, 112% higher than the all-acquisition median.
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $2,181,250 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.1% of all SBA-financed business purchases, ranking #188 of 300 industries tracked.
- Geography. Florida leads with 9 loans; the top five states account for 53% of the industry's acquisitions.
- Jobs. Lenders reported 493 jobs supported across these loans, about 12.3 per acquisition, a rough proxy for the size of business changing hands.
Boat Dealers acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 7 | $7.1M | $1,230,000 | |
| FY2019 | 5 | $2.6M | $248,000 | |
| FY2020 | 5 | $12.1M | $2,101,800 | |
| FY2021 | 10 | $14.6M | $1,486,950 | |
| FY2022 | 2 | $4.7M | $2,338,350 | |
| FY2023 | 1 | $697K | $697,300 | |
| FY2024 | 4 | $7.5M | $1,187,500 | |
| FY2025 | 2 | $1.2M | $594,500 | |
| FY2026 | 4 | $8.8M | $2,615,000 |
How often do these acquisition loans fail?
Of the 27 Boat Dealers acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 17 have already been paid in full.
For comparison, Boat Dealers has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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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Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 9 | 22.5% | $13M | |
| 2 | Michigan | 4 | 10.0% | $3.2M | |
| 3 | Wisconsin | 3 | 7.5% | $6.8M | |
| 4 | Minnesota | 3 | 7.5% | $2.7M | |
| 5 | South Carolina | 2 | 5.0% | $7M | |
| 6 | Virginia | 2 | 5.0% | $3.7M | |
| 7 | Idaho | 2 | 5.0% | $2.6M | |
| 8 | Indiana | 2 | 5.0% | $1.3M | |
| 9 | North Carolina | 2 | 5.0% | $847K | |
| 10 | Washington | 1 | 2.5% | $5M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7 | 17.5% | $10M | |
| 2 | Washington Trust Bank | 2 | 5.0% | $2.6M | |
| 3 | BankUnited, National Association | 2 | 5.0% | $2.5M | |
| 4 | Customers Bank | 2 | 5.0% | $2.4M | |
| 5 | Live Oak Banking Company | 2 | 5.0% | $1.3M | |
| 6 | Grand Marais State Bank | 2 | 5.0% | $350K | |
| 7 | Mountain Pacific Bank | 1 | 2.5% | $5M | |
| 8 | Truist Bank | 1 | 2.5% | $5M | |
| 9 | Forward Bank | 1 | 2.5% | $2.9M | |
| 10 | Beacon Bank and Trust | 1 | 2.5% | $2.7M |
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Franchise brands in Boat Dealers
13% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Polaris | 1 | 20.0% | $2.4M |
Questions buyers ask
How much is a typical SBA loan to buy a business in Boat Dealers?
Median $1,370,000 across 40 acquisition loans (FY2018 to FY2026); the middle half ran $462,500 to $2,181,250. That is 112% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Boat Dealers acquisitions?
The Huntington National Bank (7), Washington Trust Bank (2), BankUnited, National Association (2), Customers Bank (2), Live Oak Banking Company (2).
Are businesses in Boat Dealers often franchised?
Sometimes. 13% of SBA acquisition loans in this industry financed a franchised unit. Top brands: Polaris.
How risky are SBA loans for buying a business in Boat Dealers?
Of 27 seasoned loans (FY2018 to FY2021), none charged off, against the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Boat Dealers acquisitions?
Median term 10 years, average initial rate 6.90% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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