Nail Salons acquisitions in New Jersey: SBA loan data
Since FY2018, SBA lenders have approved 18 7(a) loans to buy an existing business classified as Nail Salons in New Jersey, totaling $6.6M. The median loan was $225,000. That is 1.6% of the 1,130 acquisition loans in New Jersey.
Terms signed in the LOI shape the purchase agreement that follows.
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How this compares
The median Nail Salons loan in New Jersey is 69% lower than the $719,500 median for all New Jersey acquisitions, and 30% lower than the $320,000 median for Nail Salons acquisitions nationwide (143 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 5.2% of seasoned Nail Salons acquisition loans were charged off, and 2.0% of seasoned New Jersey acquisition loans of any type.
Nail Salons acquisition loans in New Jersey by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 4 | $773K | $161,500 | |
| FY2020 | 2 | $300K | $150,000 | |
| FY2021 | 1 | $911K | $911,000 | |
| FY2022 | 4 | $900K | $225,000 | |
| FY2023 | 1 | $150K | $150,000 | |
| FY2024 | 1 | $320K | $320,000 | |
| FY2025 | 3 | $2M | $480,000 | |
| FY2026 | 2 | $1.2M | $592,500 |
How often do these acquisition loans fail?
Fewer than 20 Nail Salons in New Jersey 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 | New Millennium Bank | 9 | 50.0% | $2.3M | |
| 2 | NewBank | 2 | 11.1% | $300K | |
| 3 | Readycap Lending, LLC | 1 | 5.6% | $1.3M | |
| 4 | First Merchants Bank | 1 | 5.6% | $1.1M | |
| 5 | First Bank of the Lake | 1 | 5.6% | $911K |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for Nail Salons acquisitions in New Jersey run?
The median SBA 7(a) loan was $225,000 across 18 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 Nail Salons acquisitions in New Jersey?
New Millennium Bank (9), NewBank (2), Readycap Lending, LLC (1), First Merchants Bank (1), First Bank of the Lake (1).
How often do Nail Salons acquisition loans fail in New Jersey?
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 Nail Salons acquisitions in New Jersey?
None of the 18 loans in this combination were recorded with a franchise brand.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All New Jersey acquisitions
- Nail Salons nationally
- Nail Salons in New York
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- Limited-Service Restaurants in New Jersey
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Small samples move a lot: each loan in this combination is 6% of the count. Industry is the NAICS code the lender recorded. See the methodology.