Limited-Service Restaurants acquisitions in Washington: SBA loan data
Since FY2018, SBA lenders have approved 185 7(a) loans to buy an existing business classified as Limited-Service Restaurants in Washington, totaling $82M. The median loan was $310,000. That is 9.2% of the 2,006 acquisition loans in Washington.
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How this compares
The median Limited-Service Restaurants loan in Washington is 54% lower than the $675,000 median for all Washington acquisitions, and 11% lower than the $350,000 median for Limited-Service Restaurants acquisitions nationwide (2,222 loans).
On losses, 3.8% of seasoned Limited-Service Restaurants loans in Washington were charged off, 13% higher than the 3.4% rate for all Washington acquisitions, and 28% lower than the 5.3% rate for the industry nationally.
Limited-Service Restaurants acquisition loans in Washington by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 23 | $8.4M | $320,500 | |
| FY2019 | 26 | $8.2M | $258,500 | |
| FY2020 | 15 | $10.7M | $290,000 | |
| FY2021 | 15 | $5.1M | $210,000 | |
| FY2022 | 13 | $5.7M | $250,000 | |
| FY2023 | 17 | $7.1M | $260,000 | |
| FY2024 | 17 | $9.3M | $400,000 | |
| FY2025 | 36 | $14.4M | $344,000 | |
| FY2026 | 23 | $13.1M | $336,000 |
How often do these acquisition loans fail?
Of the 79 Limited-Service Restaurants in Washington acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 3 have been charged off by the SBA, a rate of 3.8% by loan count and 1.8% by dollars. 53 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 Limited-Service Restaurants in Washington is 8% 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hanmi Bank | 48 | 25.9% | $15.6M | |
| 2 | Gesa CU | 20 | 10.8% | $10.7M | |
| 3 | GBC International Bank | 14 | 7.6% | $5.4M | |
| 4 | UniBank | 12 | 6.5% | $3.9M | |
| 5 | Bank of Hope | 10 | 5.4% | $2.6M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Domino's Pizza | 5 | 2.7% | $4M | |
| 2 | Subway | 4 | 2.2% | $2M | |
| 3 | Papa Murphy's Take 'N' Bake Pizza | 3 | 1.6% | $8.7M | |
| 4 | Dairy Queen | 3 | 1.6% | $2.9M | |
| 5 | Jimmy John's | 2 | 1.1% | $1.3M |
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Questions buyers ask
How much do SBA loans for Limited-Service Restaurants acquisitions in Washington run?
The median SBA 7(a) loan was $310,000 across 185 loans (FY2018 to FY2026), with the middle half between $195,500 and $485,000. 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 Limited-Service Restaurants acquisitions in Washington?
Hanmi Bank (48), Gesa CU (20), GBC International Bank (14), UniBank (12), Bank of Hope (10). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Limited-Service Restaurants acquisition loans fail in Washington?
3.8% 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 Limited-Service Restaurants acquisitions in Washington?
26 of the 185 loans (14%) involved a franchise brand, most often Domino's Pizza (5).
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Related
- All Washington acquisitions
- Financing one? How to get an SBA loan to buy a fast food restaurant
- Limited-Service Restaurants nationally
- Limited-Service Restaurants in California
- Limited-Service Restaurants in Texas
- Limited-Service Restaurants in Georgia
- Limited-Service Restaurants in Pennsylvania
- Limited-Service Restaurants in Michigan
- Limited-Service Restaurants in Illinois
- Limited-Service Restaurants in Florida
- Limited-Service Restaurants in Ohio
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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.