Convenience Retailers acquisitions in California: SBA loan data
Since FY2018, SBA lenders have approved 150 7(a) loans to buy an existing business classified as Convenience Retailers in California, totaling $83.6M. The median loan was $399,000. That is 2.9% of the 5,184 acquisition loans in California.
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How this compares
The median Convenience Retailers loan in California is 34% lower than the $600,000 median for all California acquisitions, and 22% lower than the $509,000 median for Convenience Retailers acquisitions nationwide (492 loans).
On losses, 2.3% of seasoned Convenience Retailers loans in California were charged off, 46% lower than the 4.1% rate for all California acquisitions, and 11% higher than the 2.0% rate for the industry nationally.
Convenience Retailers acquisition loans in California by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 18 | $7.9M | $367,000 | |
| FY2019 | 14 | $6.6M | $332,500 | |
| FY2020 | 21 | $12.3M | $380,000 | |
| FY2021 | 36 | $20.6M | $478,350 | |
| FY2022 | 23 | $11.1M | $350,000 | |
| FY2023 | 10 | $7.6M | $558,500 | |
| FY2024 | 10 | $6.6M | $517,000 | |
| FY2025 | 9 | $6.1M | $680,000 | |
| FY2026 | 9 | $4.7M | $654,000 |
How often do these acquisition loans fail?
Of the 89 Convenience Retailers in California acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 2 have been charged off by the SBA, a rate of 2.3% by loan count and 1.1% by dollars. 52 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Convenience Retailers in California is 36% lower than the acquisition-loan average. 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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Commonwealth Business Bank | 59 | 39.3% | $28.9M | |
| 2 | West Coast Community Bank | 9 | 6.0% | $5.2M | |
| 3 | Plumas Bank | 7 | 4.7% | $5.1M | |
| 4 | American Continental Bank | 7 | 4.7% | $3.8M | |
| 5 | Open Bank | 7 | 4.7% | $3.7M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Circle K | 5 | 3.3% | $2.9M |
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Questions buyers ask
How much do SBA loans for Convenience Retailers acquisitions in California run?
The median SBA 7(a) loan was $399,000 across 150 loans (FY2018 to FY2026), with the middle half between $279,900 and $713,325. 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 Convenience Retailers acquisitions in California?
Commonwealth Business Bank (59), West Coast Community Bank (9), Plumas Bank (7), American Continental Bank (7), Open Bank (7). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Convenience Retailers acquisition loans fail in California?
2.3% of 89 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Convenience Retailers acquisitions in California?
6 of the 150 loans (4%) involved a franchise brand, most often Circle K (5).
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All California acquisitions
- Convenience Retailers nationally
- Convenience Retailers in Washington
- Convenience Retailers in Oregon
- Convenience Retailers in Michigan
- Convenience Retailers in Massachusetts
- Full-Service Restaurants in California
- Beer, Wine, and Liquor Retailers in California
- Limited-Service Restaurants in California
- Gasoline Stations with Convenience Stores in California
- Hotels and Motels in California
- General Automotive Repair in California
- Supermarkets and Other Grocery Retailers in California
- Assisted Living Facilities for the Elderly in California
Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.