Limited-Service Restaurants acquisitions in Mississippi: SBA loan data
Since FY2018, SBA lenders have approved 14 7(a) loans to buy an existing business classified as Limited-Service Restaurants in Mississippi, totaling $7.7M. The median loan was $261,000. That is 4.0% of the 354 acquisition loans in Mississippi.
The purchase agreement decides what you bought, not the loan approval.
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How this compares
The median Limited-Service Restaurants loan in Mississippi is 60% lower than the $658,500 median for all Mississippi acquisitions, and 25% lower than the $350,000 median for Limited-Service Restaurants acquisitions nationwide (2,222 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 5.3% of seasoned Limited-Service Restaurants acquisition loans were charged off, and 2.6% of seasoned Mississippi acquisition loans of any type.
Limited-Service Restaurants acquisition loans in Mississippi by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $300K | $300,000 | |
| FY2020 | 3 | $1.4M | $202,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 5 | $1.5M | $257,000 | |
| FY2024 | 1 | $200K | $200,000 | |
| FY2025 | 1 | $410K | $410,000 | |
| FY2026 | 3 | $3.9M | $359,000 |
How often do these acquisition loans fail?
Fewer than 20 Limited-Service Restaurants in Mississippi 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | BankFirst Financial Services | 3 | 21.4% | $986K | |
| 2 | Hancock Whitney Bank | 3 | 21.4% | $802K | |
| 3 | Live Oak Banking Company | 2 | 14.3% | $3.8M | |
| 4 | BankPlus | 2 | 14.3% | $233K | |
| 5 | Pinnacle Bank | 1 | 7.1% | $1.2M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Domino's Pizza | 2 | 14.3% | $3.8M | |
| 2 | Little Caesars | 2 | 14.3% | $537K | |
| 3 | Zaxby's | 1 | 7.1% | $1.2M | |
| 4 | Smoothie King | 1 | 7.1% | $300K | |
| 5 | Subway | 1 | 7.1% | $200K |
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Questions buyers ask
How much do SBA loans for Limited-Service Restaurants acquisitions in Mississippi run?
The median SBA 7(a) loan was $261,000 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 Limited-Service Restaurants acquisitions in Mississippi?
BankFirst Financial Services (3), Hancock Whitney Bank (3), Live Oak Banking Company (2), BankPlus (2), Pinnacle Bank (1).
How often do Limited-Service Restaurants acquisition loans fail in Mississippi?
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 Limited-Service Restaurants acquisitions in Mississippi?
7 of the 14 loans (50%) involved a franchise brand, most often Domino's Pizza (2).
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Related
- All Mississippi acquisitions
- Financing one? How to get an SBA loan to buy a fast food restaurant
- Limited-Service Restaurants nationally
- Limited-Service Restaurants in California
- Limited-Service Restaurants in Washington
- Limited-Service Restaurants in Texas
- Limited-Service Restaurants in Georgia
- Limited-Service Restaurants in Pennsylvania
- Limited-Service Restaurants in Michigan
- Limited-Service Restaurants in Illinois
- Limited-Service Restaurants in Florida
- Hotels and Motels in Mississippi
- Broilers and Other Meat Type Chicken Production in Mississippi
- Insurance Agencies and Brokerages in Mississippi
- Full-Service Restaurants in Mississippi
- Pharmacies and Drug Retailers in Mississippi
- Child Care Services in Mississippi
- Chicken Egg Production in Mississippi
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.