Data
SBA Acquisition Lending by State & Lender
Every figure below is computed from the SBA's loan-level 7(a) data, filtered to change-of-ownership approvals.
FY2025 Acquisition Loans
7,525
$8.81B approved
FY2025 Median Loan
$700,000
Half of deals borrow less
FY2025 Average Initial Rate
9.38%
Across all approved structures
Six Years of Acquisition Lending
| Fiscal Year | Loans | Total Approved | Median Loan | Avg Initial Rate |
|---|---|---|---|---|
| FY2025 | 7,525 | $8.81B | $700,000 | 9.38% |
| FY2024 | 6,053 | $6.73B | $655,000 | 10.17% |
| FY2023 | 5,042 | $5.50B | $639,650 | 9.41% |
| FY2022 | 4,983 | $5.73B | $700,000 | 5.97% |
| FY2021 | 6,619 | $7.48B | $694,600 | 5.31% |
| FY2020 | 5,551 | $5.66B | $601,700 | 6.03% |
The Most Active Acquisition Lenders, FY2025
| # | Lender | FY2025 Loans | FY2025 Dollars | Avg Rate (All Years) |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 776 | $573M | 8.85% |
| 2 | Live Oak Banking Company | 769 | $993M | 7.71% |
| 3 | First Internet Bank of Indiana | 251 | $383M | 10.05% |
| 4 | Byline Bank | 163 | $212M | 8.63% |
| 5 | Hanmi Bank | 134 | $116M | 7.8% |
| 6 | GBank | 119 | $346M | 7.75% |
| 7 | Truliant FCU | 105 | $148M | 10.37% |
| 8 | Manufacturers and Traders Trust Company | 90 | $45M | 8.12% |
| 9 | Beacon Bank and Trust | 90 | $155M | 8.21% |
| 10 | United Midwest Savings Bank, National Association | 89 | $82M | 8.28% |
| 11 | Celtic Bank Corporation | 88 | $121M | 7.79% |
| 12 | Old National Bank | 87 | $90M | 7.35% |
| 13 | Readycap Lending, LLC | 81 | $183M | 9.72% |
| 14 | Zions Bank, A Division of | 79 | $50M | 7.99% |
| 15 | PCB Bank | 75 | $99M | 8.9% |
| 16 | Dogwood State Bank | 74 | $80M | 9.12% |
| 17 | U.S. Bank, National Association | 73 | $64M | 7.23% |
| 18 | BayFirst National Bank | 71 | $50M | 9.33% |
| 19 | First Financial Bank | 70 | $93M | 6.89% |
| 20 | Open Bank | 68 | $126M | 7.8% |
| 21 | Port 51 Lending LLC | 65 | $109M | 9.87% |
| 22 | T Bank, National Association | 64 | $128M | 8.99% |
| 23 | Newtek Bank, National Association | 62 | $48M | 11.1% |
| 24 | Pathward National Association | 61 | $141M | 9.05% |
| 25 | VelocitySBA, LLC | 61 | $50M | 8.61% |
Linked lenders have full reviews in the directory; the Lender Match tool filters them by deal profile.
By State
Method & Source
Computed from the SBA 7(a) FOIA loan-level dataset (FY2020 through FY2025), filtered to approvals the SBA flags as change of ownership. Figures are approvals, not closings, and exclude conventional and 504 financing. Free to cite with attribution and a link; the same figures are available as JSON at /api/data/sba.
Everything here is educational information, not financial, legal, tax, or investment advice. Figures are estimates or cited third-party data; verify anything that matters against primary sources and your own advisors before acting on it.