GoSBA Loans: State Of SBA Business Acquisition Lending 2026
"Source: SBA 7(a) FOIA loan-level data as of 2026-09-30; acquisition = BusinessAge ""Change of Ownership""; FY2026 = Oct 1 2025 to Sep 30 2026"
"Cite as: GoSBA Loans, SBA Business Acquisition Lending Report 2026, https://gosbaloans.com/sba-business-acquisition-lending-report-2026/"

Table,Metric,Value
Headline FY2026,loans,7184
Headline FY2026,volume,8894040200
Headline FY2026,avg_loan,1238035
Headline FY2026,median_loan,765000
Headline FY2026,lenders,635
Headline FY2026,states,52
Headline FY2026,prev_loans,7533
Headline FY2026,prev_volume,8819690300
Headline FY2026,prev_avg,1170807
Headline FY2026,yoy_loans_pct,-4.6
Headline FY2026,yoy_volume_pct,0.8
Headline FY2026,share_volume,27.4
Headline FY2026,share_loans,12.8
Headline FY2026,all_loans,56130
Headline FY2026,all_volume,32426480618
Headline FY2026,avg_rate,8.69
Headline FY2026,avg_rate_w,8.46
Headline FY2026,all_avg_rate,9.48
Headline FY2026,pct_variable,89.8
Headline FY2026,all_pct_variable,87.3
Headline FY2026,franchise_pct,16.8
Headline FY2026,franchise_vol_pct,20.3
Headline FY2026,franchise_loans,1207
Headline FY2026,franchise_avg,1496967
Headline FY2026,avg_term_months,152.9
Headline FY2026,median_term_months,120.0
Headline FY2026,pct_term_120,73.6
Headline FY2026,pct_term_over_120,22.7
Headline FY2026,pct_at_5m,2.7
Headline FY2026,loans_at_5m,197
Headline FY2026,pct_over_1m,41.3
Headline FY2026,pct_express,16.4
Headline FY2026,pct_plp,77.4
Headline FY2026,first_approval,2025-11-13
Headline FY2026,last_approval,2026-09-30

Table,Fiscal year,Acquisition loans,Acquisition dollars,Average acquisition loan,Acquisition share of 7(a) dollars %,Acquisition share of 7(a) loans %,All 7(a) loans,All 7(a) dollars
Trend,2020,5551,5655609700,1018845,25.1,13.1,42298,22549825700
Trend,2021,6619,7481721600,1130340,20.5,12.8,51856,36536756800
Trend,2022,4983,5731051700,1150121,22.3,10.5,47678,25693805700
Trend,2023,5043,5501424400,1090903,20.0,8.8,57362,27515666000
Trend,2024,6055,6735114600,1112323,21.6,8.6,70242,31124036200
Trend,2025,7533,8819690300,1170807,23.7,9.6,78078,37287816200
Trend,2026,7184,8894040200,1238035,27.4,12.8,56130,32426480618

Table,Loan size,Loans,Dollars
Loan size FY2026,Under $150K,824,62660700
Loan size FY2026,$150K to $350K,1165,279452400
Loan size FY2026,$350K to $750K,1549,807257700
Loan size FY2026,$750K to $1M,649,564015500
Loan size FY2026,$1M to $2M,1480,2101816300
Loan size FY2026,$2M to $3M,697,1694898100
Loan size FY2026,$3M to just under $5M,623,2398939500
Loan size FY2026,$5M (the 7(a) maximum),197,985000000

Table,Rank,Lender,Loans,Dollars,Average loan,Share of acquisition dollars %
Top lenders FY2026,1,Live Oak Banking Company,700,969712700,1385304,10.9
Top lenders FY2026,2,The Huntington National Bank,842,677223600,804304,7.6
Top lenders FY2026,3,Pathward,138,301029000,2181370,3.4
Top lenders FY2026,4,Byline Bank,197,272481100,1383153,3.1
Top lenders FY2026,5,GBank,80,257342200,3216778,2.9
Top lenders FY2026,6,First Internet Bank of Indiana,211,255894100,1212768,2.9
Top lenders FY2026,7,US Metro Bank,100,191544300,1915443,2.2
Top lenders FY2026,8,Beacon Bank and Trust,82,173997500,2121921,2.0
Top lenders FY2026,9,Open Bank,86,168673800,1961323,1.9
Top lenders FY2026,10,Truliant FCU,89,132048300,1483689,1.5
Top lenders FY2026,11,Celtic Bank Corporation,89,127801800,1435975,1.4
Top lenders FY2026,12,Hanmi Bank,134,125882300,939420,1.4
Top lenders FY2026,13,Bankwell Bank,51,106810000,2094314,1.2
Top lenders FY2026,14,Readycap Lending,65,101929700,1568149,1.1
Top lenders FY2026,15,VelocitySBA,72,95424500,1325340,1.1

Table,Rank,State,Loans,Dollars,Average loan,Share of acquisition dollars %
Top states FY2026,1,Texas,667,1015207600,1522050,11.4
Top states FY2026,2,California,721,889913800,1234277,10.0
Top states FY2026,3,Florida,577,773098600,1339859,8.7
Top states FY2026,4,Washington,311,400584200,1288052,4.5
Top states FY2026,5,Ohio,301,332112100,1103362,3.7
Top states FY2026,6,North Carolina,228,331803400,1455278,3.7
Top states FY2026,7,New York,261,329600400,1262837,3.7
Top states FY2026,8,Colorado,265,320449200,1209242,3.6
Top states FY2026,9,Illinois,240,303718100,1265492,3.4
Top states FY2026,10,Georgia,217,299733200,1381259,3.4
Top states FY2026,11,Pennsylvania,268,297956200,1111777,3.4
Top states FY2026,12,Michigan,256,273961000,1070160,3.1
Top states FY2026,13,New Jersey,184,213429200,1159941,2.4
Top states FY2026,14,Indiana,169,206655100,1222811,2.3
Top states FY2026,15,Wisconsin,167,198293900,1187389,2.2

Table,Rank,NAICS,Industry,Loans,Dollars,Average loan
Top industries FY2026,1,721110,Hotels (except Casino Hotels) and Motels,231,746565900,3231887
Top industries FY2026,2,457110,Gasoline Stations with Convenience Stores,195,410626800,2105778
Top industries FY2026,3,722511,Full-service Restaurants,418,355760400,851101
Top industries FY2026,4,445320,"Beer, Wine, and Liquor Retailers",226,241020800,1066464
Top industries FY2026,5,238990,All Other Specialty Trade Contractors,149,216692500,1454312
Top industries FY2026,6,722513,Limited-service Restaurants,254,191093900,752338
Top industries FY2026,7,811111,General Automotive Repair,181,175367700,968882
Top industries FY2026,8,624410,Child Care Services,127,170586200,1343198
Top industries FY2026,9,238220,"Plumbing, Heating, and Air-conditioning Contractors",133,156931200,1179934
Top industries FY2026,10,621610,Home Health Care Services,104,152251800,1463960
Top industries FY2026,11,561730,Landscaping Services,139,142255200,1023419
Top industries FY2026,12,524210,Insurance Agencies and Brokerages,110,113550500,1032277
Top industries FY2026,13,541211,Offices of Certified Public Accountants,110,97759700,888725
Top industries FY2026,14,238210,Electrical Contractors and Other Wiring Installation Contractors,66,91692800,1389285
Top industries FY2026,15,812210,Funeral Homes and Funeral Services,46,91042300,1979180
Top industries FY2026,16,713940,Fitness and Recreational Sports Centers,98,80942400,825943
Top industries FY2026,17,445110,Supermarkets and Other Grocery Retailers (except Convenience Retailers),53,77041700,1453617
Top industries FY2026,18,456110,Pharmacies and Drug Retailers,59,76220300,1291869
Top industries FY2026,19,541990,"All Other Professional, Scientific, and Technical Services",62,74077400,1194797
Top industries FY2026,20,812990,All Other Personal Services,78,70632200,905541
Top industries FY2026,21,812910,Pet Care (except Veterinary) Services,81,69143600,853625
Top industries FY2026,22,811192,Car Washes,46,68927200,1498417
Top industries FY2026,23,621210,Offices of Dentists,52,67026600,1288973
Top industries FY2026,24,623312,Assisted Living Facilities for the Elderly,40,63179200,1579480
Top industries FY2026,25,332710,Machine Shops,40,60862700,1521568

Table,Franchise brand,Loans,Dollars
Top franchise brands FY2026,The UPS Store,50,29825500
Top franchise brands FY2026,Ace Hardware,19,39437100
Top franchise brands FY2026,Super 8,17,35871500
Top franchise brands FY2026,Subway,17,7937500
Top franchise brands FY2026,The Goddard School,15,34180800
Top franchise brands FY2026,Quality Inn,12,37347200
Top franchise brands FY2026,Domino's Pizza,12,13977000
Top franchise brands FY2026,Home Instead,12,22785300
Top franchise brands FY2026,Primrose Schools,12,25885900
Top franchise brands FY2026,Best Western,12,40998500

Table,Month,Loans,Dollars
Monthly FY2026,Oct 2025,0,0
Monthly FY2026,Nov 2025,538,602851500
Monthly FY2026,Dec 2025,615,792434500
Monthly FY2026,Jan 2026,967,1144717000
Monthly FY2026,Feb 2026,442,525372300
Monthly FY2026,Mar 2026,499,571224300
Monthly FY2026,Apr 2026,573,668586200
Monthly FY2026,May 2026,512,653031000
Monthly FY2026,Jun 2026,636,692385500
Monthly FY2026,Jul 2026,590,741638500
Monthly FY2026,Aug 2026,542,648862400
Monthly FY2026,Sep 2026,1270,1852937000

Table,Loan size,Loans with a rate,Average rate at approval %
Average rate by size FY2026,Up to $350K,2143,8.99
Average rate by size FY2026,$350K to $1M,2077,8.71
Average rate by size FY2026,$1M to $2M,1459,8.55
Average rate by size FY2026,$2M to $5M,1504,8.35

Table,Term,Loans,Share %
Term mix FY2026,10 years,5287,73.6
Term mix FY2026,Under 10 years,264,3.7
Term mix FY2026,Over 10 years (usually includes real estate),1633,22.7