Sporting Goods Retailers acquisitions in Minnesota: SBA loan data
Since FY2018, SBA lenders have approved 21 7(a) loans to buy an existing business classified as Sporting Goods Retailers in Minnesota, totaling $15.9M. The median loan was $369,000. That is 1.2% of the 1,778 acquisition loans in Minnesota.
Terms signed in the LOI shape the purchase agreement that follows.
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How this compares
The median Sporting Goods Retailers loan in Minnesota is 18% lower than the $450,000 median for all Minnesota acquisitions, and in line with the $360,000 median for Sporting Goods Retailers acquisitions nationwide (291 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 2.6% of seasoned Sporting Goods Retailers acquisition loans were charged off, and 3.2% of seasoned Minnesota acquisition loans of any type.
Sporting Goods Retailers acquisition loans in Minnesota by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $1.2M | $1,200,000 | |
| FY2020 | 2 | $465K | $232,500 | |
| FY2021 | 3 | $739K | $151,700 | |
| FY2022 | 3 | $2.2M | $114,000 | |
| FY2023 | 6 | $6.6M | $562,500 | |
| FY2024 | 1 | $3M | $3,000,000 | |
| FY2025 | 5 | $1.7M | $358,100 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Sporting Goods Retailers in Minnesota 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Minnwest Bank | 4 | 19.0% | $1.2M | |
| 2 | Village Bank | 2 | 9.5% | $4M | |
| 3 | United Prairie Bank | 2 | 9.5% | $1.5M | |
| 4 | Coulee Bank | 2 | 9.5% | $999K | |
| 5 | The Huntington National Bank | 2 | 9.5% | $916K |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for Sporting Goods Retailers acquisitions in Minnesota run?
The median SBA 7(a) loan was $369,000 across 21 loans (FY2018 to FY2026), with the middle half between $151,700 and $866,000. 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 Sporting Goods Retailers acquisitions in Minnesota?
Minnwest Bank (4), Village Bank (2), United Prairie Bank (2), Coulee Bank (2), The Huntington National Bank (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Sporting Goods Retailers acquisition loans fail in Minnesota?
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 Sporting Goods Retailers acquisitions in Minnesota?
None of the 21 loans in this combination were recorded with a franchise brand.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
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Small samples move a lot: each loan in this combination is 5% of the count. Industry is the NAICS code the lender recorded. See the methodology.