Plumbing, Heating, and Air-Conditioning Contractors acquisitions in Virginia: SBA loan data
Since FY2018, SBA lenders have approved 11 7(a) loans to buy an existing business classified as Plumbing, Heating, and Air-Conditioning Contractors in Virginia, totaling $16.2M. The median loan was $710,000. That is 1.3% 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 Plumbing, Heating, and Air-Conditioning Contractors loan in Virginia is in line with the $719,000 median for all Virginia acquisitions, and in line with the $734,000 median for Plumbing, Heating, and Air-Conditioning Contractors acquisitions nationwide (921 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 2.5% of seasoned Plumbing, Heating, and Air-Conditioning Contractors acquisition loans were charged off, and 3.6% of seasoned Virginia acquisition loans of any type.
Plumbing, Heating, and Air-Conditioning Contractors acquisition loans in Virginia by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $3M | $1,488,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 3 | $6.7M | $1,990,000 | |
| FY2022 | 1 | $710K | $710,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $5M | $355,000 | |
| FY2026 | 2 | $850K | $425,000 |
How often do these acquisition loans fail?
Fewer than 20 Plumbing, Heating, and Air-Conditioning Contractors 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 6 | 54.5% | $7.9M | |
| 2 | The Huntington National Bank | 2 | 18.2% | $4.6M | |
| 3 | Happen Bank | 1 | 9.1% | $2.9M | |
| 4 | BayFirst National Bank | 1 | 9.1% | $710K | |
| 5 | Farmers & Merchants Bank | 1 | 9.1% | $105K |
Top franchise brands
No franchise brands recorded in this combination.
Seller note standby terms and third-party consents are reviewed before closing.
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Questions buyers ask
How much do SBA loans for Plumbing, Heating, and Air-Conditioning Contractors acquisitions in Virginia run?
The median SBA 7(a) loan was $710,000 across 11 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 Plumbing, Heating, and Air-Conditioning Contractors acquisitions in Virginia?
Live Oak Banking Company (6), The Huntington National Bank (2), Happen Bank (1), BayFirst National Bank (1), Farmers & Merchants Bank (1).
How often do Plumbing, Heating, and Air-Conditioning Contractors 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 Plumbing, Heating, and Air-Conditioning Contractors acquisitions in Virginia?
None of the 11 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 Virginia acquisitions
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Small samples move a lot: each loan in this combination is 9% of the count. Industry is the NAICS code the lender recorded. See the methodology.