Pet Care Services acquisitions in Virginia: SBA loan data
Since FY2018, SBA lenders have approved 10 7(a) loans to buy an existing business classified as Pet Care Services in Virginia, totaling $8.9M. The median loan was $708,000. That is 1.2% of the 849 acquisition loans in Virginia.
Terms signed in the LOI shape the purchase agreement that follows.
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How this compares
The median Pet Care Services loan in Virginia is in line with the $719,000 median for all Virginia acquisitions, and 36% higher than the $521,250 median for Pet Care Services acquisitions nationwide (404 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 3.4% of seasoned Pet Care Services acquisition loans were charged off, and 3.6% of seasoned Virginia acquisition loans of any type.
Pet Care Services acquisition loans in Virginia by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $1.3M | $1,330,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 1 | $675K | $675,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $157K | $157,300 | |
| FY2024 | 1 | $1M | $1,000,000 | |
| FY2025 | 4 | $2.1M | $519,000 | |
| FY2026 | 2 | $3.6M | $1,816,250 |
How often do these acquisition loans fail?
Fewer than 20 Pet Care Services in Virginia 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 | Live Oak Banking Company | 2 | 20.0% | $1.7M | |
| 2 | Manufacturers and Traders Trust Company | 2 | 20.0% | $322K | |
| 3 | First Financial Bank | 1 | 10.0% | $3.2M | |
| 4 | Pinnacle Bank | 1 | 10.0% | $1.3M | |
| 5 | First-Citizens Bank & Trust Company | 1 | 10.0% | $1M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Dogtopia | 2 | 20.0% | $1.7M |
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do SBA loans for Pet Care Services acquisitions in Virginia run?
The median SBA 7(a) loan was $708,000 across 10 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 Pet Care Services acquisitions in Virginia?
Live Oak Banking Company (2), Manufacturers and Traders Trust Company (2), First Financial Bank (1), Pinnacle Bank (1), First-Citizens Bank & Trust Company (1).
How often do Pet Care Services acquisition loans fail in Virginia?
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 Pet Care Services acquisitions in Virginia?
3 of the 10 loans (30%) involved a franchise brand, most often Dogtopia (2).
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Virginia acquisitions
- Pet Care Services nationally
- Pet Care Services in Georgia
- Pet Care Services in Minnesota
- Pet Care Services in Wisconsin
- Pet Care Services in North Carolina
- Pet Care Services in Washington
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Small samples move a lot: each loan in this combination is 10% of the count. Industry is the NAICS code the lender recorded. See the methodology.