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Buying a Business in Colorado

The Numbers

FY2025 Acquisition Loans

310

$339M approved

Median Loan

$654k

FY2020 through FY2025

Loans Since FY2020

1,401

$1.47B in total approvals

Share of U.S. Activity

3.9%

Of change-of-ownership loans

What the Data Says

Colorado ranks 5th of 53 states and territories for change-of-ownership SBA 7(a) lending: 1,401 loans since FY2020, 4% of the national total.

The typical deal is mid-market: its $654k median loan is close to the $650k midpoint across states.

Activity is accelerating: FY2025's 310 loans ran ahead of the state's own ~234 a year pace since FY2020.

The most-financed target is beer, wine, and liquor retailers (218 loans), and the 5 most active lenders wrote about 37% of the state's acquisitions, a broad lender field.

Most Active Acquisition Lenders in Colorado

  1. 1. Hanmi Bank203 loans
  2. 2. Live Oak Banking Company164 loans
  3. 3. The Huntington National Bank82 loans
  4. 4. Busey Bank35 loans
  5. 5. BMO Bank National Association33 loans

A lender being active in Colorado does not require a local branch; several top SBA lenders work nationally. Build a shortlist with Lenders.

What Gets Bought in Colorado

  • Beer, Wine, and Liquor Retailers218 loans
  • Full-Service Restaurants63 loans
  • Hotels (except Casino Hotels) and Motels51 loans
  • Limited-Service Restaurants34 loans
  • All Other Specialty Trade Contractors32 loans

Industry-specific pricing and diligence live in the Guides. Where the buyable targets sit in Colorado, by county, is in the Colorado buying guide.

By Metro Area in Colorado

  • Denver-Aurora-Centennial, CO

    740 purchase loans, median $640k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Hanmi Bank (146).

  • Colorado Springs, CO

    195 purchase loans, median $563k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Live Oak Banking Company (23).

  • Boulder, CO

    97 purchase loans, median $645k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Hanmi Bank (14).

  • Fort Collins-Loveland, CO

    87 purchase loans, median $762k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Live Oak Banking Company (13).

  • Greeley, CO

    62 purchase loans, median $656k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Hanmi Bank (8).

  • Grand Junction, CO

    47 purchase loans, median $738k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Timberline Bank (7).

Every metro area that drew 20 purchase loans, with three lenders each, is in the metro table.

Method & Source

Computed from the SBA 7(a) FOIA loan-level dataset (FY2020 through FY2025), filtered to approvals flagged change of ownership with a Colorado project address. Approvals, not closings; excludes conventional and 504 financing.