Full-Service Restaurants acquisitions in Washington: SBA loan data
Since FY2018, SBA lenders have approved 200 7(a) loans to buy an existing business classified as Full-Service Restaurants in Washington, totaling $131M. The median loan was $448,100. That is 10.0% of the 2,006 acquisition loans in Washington.
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How this compares
The median Full-Service Restaurants loan in Washington is 34% lower than the $675,000 median for all Washington acquisitions, and 9% higher than the $411,700 median for Full-Service Restaurants acquisitions nationwide (2,797 loans).
On losses, 5.1% of seasoned Full-Service Restaurants loans in Washington were charged off, 50% higher than the 3.4% rate for all Washington acquisitions, and 14% lower than the 5.9% rate for the industry nationally.
Full-Service Restaurants acquisition loans in Washington by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 20 | $11.5M | $397,500 | |
| FY2019 | 35 | $20.7M | $506,000 | |
| FY2020 | 18 | $7.9M | $322,500 | |
| FY2021 | 6 | $1.9M | $320,000 | |
| FY2022 | 16 | $10.8M | $463,500 | |
| FY2023 | 18 | $13.8M | $412,000 | |
| FY2024 | 23 | $15.2M | $360,000 | |
| FY2025 | 26 | $21M | $515,000 | |
| FY2026 | 38 | $28M | $552,500 |
How often do these acquisition loans fail?
Of the 79 Full-Service Restaurants in Washington acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 4 have been charged off by the SBA, a rate of 5.1% by loan count and 4.3% by dollars. 48 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Full-Service Restaurants in Washington is 44% higher than the acquisition-loan average. 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 | 32 | 16.0% | $18.1M | |
| 2 | GBC International Bank | 31 | 15.5% | $16.1M | |
| 3 | Gesa CU | 13 | 6.5% | $9M | |
| 4 | UniBank | 13 | 6.5% | $7.9M | |
| 5 | Harborstone CU | 9 | 4.5% | $4.7M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Denny's | 1 | 0.5% | $1M |
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Questions buyers ask
How much do SBA loans for Full-Service Restaurants acquisitions in Washington run?
The median SBA 7(a) loan was $448,100 across 200 loans (FY2018 to FY2026), with the middle half between $300,000 and $755,500. 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 Full-Service Restaurants acquisitions in Washington?
Hanmi Bank (32), GBC International Bank (31), Gesa CU (13), UniBank (13), Harborstone CU (9). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Full-Service Restaurants acquisition loans fail in Washington?
5.1% of 79 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% 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 Full-Service Restaurants acquisitions in Washington?
6 of the 200 loans (3%) involved a franchise brand, most often Denny's (1).
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Related
- All Washington acquisitions
- Full-Service Restaurants nationally
- Full-Service Restaurants in California
- Full-Service Restaurants in Texas
- Full-Service Restaurants in Florida
- Full-Service Restaurants in Georgia
- Full-Service Restaurants in Illinois
- Full-Service Restaurants in Pennsylvania
- Full-Service Restaurants in Michigan
- Full-Service Restaurants in Wisconsin
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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.