Convenience Retailers acquisitions in Washington: SBA loan data
Since FY2018, SBA lenders have approved 86 7(a) loans to buy an existing business classified as Convenience Retailers in Washington, totaling $78.1M. The median loan was $652,500. That is 4.3% of the 2,006 acquisition loans in Washington.
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How this compares
The median Convenience Retailers loan in Washington is in line with the $675,000 median for all Washington acquisitions, and 28% higher than the $509,000 median for Convenience Retailers acquisitions nationwide (492 loans).
On losses, none of the 26 seasoned Convenience Retailers loans in Washington were charged off, against the 3.4% rate for all Washington acquisitions, and against the 2.0% rate for the industry nationally.
Convenience Retailers acquisition loans in Washington by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $2.7M | $345,000 | |
| FY2019 | 6 | $3.3M | $551,200 | |
| FY2020 | 9 | $7.2M | $792,000 | |
| FY2021 | 6 | $2.7M | $536,250 | |
| FY2022 | 3 | $3M | $1,103,000 | |
| FY2023 | 9 | $6.4M | $573,000 | |
| FY2024 | 12 | $12.3M | $945,750 | |
| FY2025 | 21 | $23.6M | $677,000 | |
| FY2026 | 15 | $16.9M | $586,500 |
How often do these acquisition loans fail?
Of the 26 Convenience Retailers in Washington acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 15 have already been paid in full.
For comparison, Convenience Retailers in Washington has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hanmi Bank | 30 | 34.9% | $25M | |
| 2 | Mountain Pacific Bank | 10 | 11.6% | $10.8M | |
| 3 | Readycap Lending, LLC | 7 | 8.1% | $12.9M | |
| 4 | Gesa CU | 5 | 5.8% | $4.2M | |
| 5 | GBC International Bank | 5 | 5.8% | $2.3M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | S.A.S. Petroleum | 1 | 1.2% | $5M |
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Questions buyers ask
How much do SBA loans for Convenience Retailers acquisitions in Washington run?
The median SBA 7(a) loan was $652,500 across 86 loans (FY2018 to FY2026), with the middle half between $494,000 and $1,183,750. 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 Convenience Retailers acquisitions in Washington?
Hanmi Bank (30), Mountain Pacific Bank (10), Readycap Lending, LLC (7), Gesa CU (5), GBC International Bank (5). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Convenience Retailers acquisition loans fail in Washington?
Of 26 seasoned loans (FY2018 to FY2021), none were charged off, against the 3.5% rate for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Convenience Retailers acquisitions in Washington?
1 of the 86 loans (1%) involved a franchise brand, most often S.A.S. Petroleum (1).
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Related
- All Washington acquisitions
- Convenience Retailers nationally
- Convenience Retailers in California
- Convenience Retailers in Oregon
- Convenience Retailers in Michigan
- Convenience Retailers in Massachusetts
- Convenience Retailers in New Jersey
- Gasoline Stations with Convenience Stores in Washington
- Full-Service Restaurants in Washington
- Limited-Service Restaurants in Washington
- Hotels and Motels in Washington
- Assisted Living Facilities for the Elderly in Washington
- Supermarkets and Other Grocery Retailers in Washington
- General Automotive Repair in Washington
- All Other Specialty Trade Contractors in Washington
Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.