Janitorial Services acquisitions in Massachusetts: SBA loan data
Since FY2018, SBA lenders have approved 14 7(a) loans to buy an existing business classified as Janitorial Services in Massachusetts, totaling $10.1M. The median loan was $313,600. That is 1.5% of the 963 acquisition loans in Massachusetts.
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How this compares
The median Janitorial Services loan in Massachusetts is 24% lower than the $410,000 median for all Massachusetts acquisitions, and 15% lower than the $369,700 median for Janitorial Services acquisitions nationwide (435 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 2.6% of seasoned Janitorial Services acquisition loans were charged off, and 3.2% of seasoned Massachusetts acquisition loans of any type.
Janitorial Services acquisition loans in Massachusetts by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $2.6M | $1,200,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 2 | $613K | $306,400 | |
| FY2021 | 2 | $346K | $172,800 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 5 | $6.2M | $475,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 2 | $327K | $163,600 |
How often do these acquisition loans fail?
Fewer than 20 Janitorial Services in Massachusetts 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.
The purchase agreement decides what you bought, not the loan approval.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Salem Five Cents Savings Bank | 3 | 21.4% | $770K | |
| 2 | Manufacturers and Traders Trust Company | 2 | 14.3% | $3M | |
| 3 | Seacoast National Bank | 2 | 14.3% | $2.8M | |
| 4 | The Huntington National Bank | 2 | 14.3% | $327K | |
| 5 | Wells Fargo Bank National Association | 1 | 7.1% | $1.2M |
Top franchise brands
No franchise brands recorded in this combination.
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do SBA loans for Janitorial Services acquisitions in Massachusetts run?
The median SBA 7(a) loan was $313,600 across 14 loans (FY2018 to FY2026). 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 Janitorial Services acquisitions in Massachusetts?
Salem Five Cents Savings Bank (3), Manufacturers and Traders Trust Company (2), Seacoast National Bank (2), The Huntington National Bank (2), Wells Fargo Bank National Association (1).
How often do Janitorial Services acquisition loans fail in Massachusetts?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Janitorial Services acquisitions in Massachusetts?
1 of the 14 loans (7%) involved a franchise brand.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Massachusetts acquisitions
- Janitorial Services nationally
- Janitorial Services in Florida
- Janitorial Services in Colorado
- Janitorial Services in Ohio
- Janitorial Services in Minnesota
- Janitorial Services in New York
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Small samples move a lot: each loan in this combination is 7% of the count. Industry is the NAICS code the lender recorded. See the methodology.