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Buying a Business in Maryland

The Numbers

FY2025 Acquisition Loans

108

$118M approved

Median Loan

$693k

FY2020 through FY2025

Loans Since FY2020

468

$525M in total approvals

Share of U.S. Activity

1.3%

Of change-of-ownership loans

What the Data Says

Maryland ranks 24th of 53 states and territories for change-of-ownership SBA 7(a) lending: 468 loans since FY2020, 1% of the national total.

The typical deal is mid-market: its $693k median loan is close to the $650k midpoint across states.

Activity is accelerating: FY2025's 108 loans ran ahead of the state's own ~78 a year pace since FY2020.

The most-financed target is beer, wine, and liquor retailers (52 loans), and the 5 most active lenders wrote about 48% of the state's acquisitions, a broad lender field.

Most Active Acquisition Lenders in Maryland

  1. 1. Manufacturers and Traders Trust Company100 loans
  2. 2. Live Oak Banking Company50 loans
  3. 3. Hanmi Bank35 loans
  4. 4. The Huntington National Bank22 loans
  5. 5. Fulton Bank, National Association18 loans

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

What Gets Bought in Maryland

  • Beer, Wine, and Liquor Retailers52 loans
  • Limited-Service Restaurants24 loans
  • General Automotive Repair21 loans
  • Full-Service Restaurants20 loans
  • Hotels (except Casino Hotels) and Motels13 loans

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

By Metro Area in Maryland

  • Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

    598 purchase loans, median $628k. Bought most: Full-Service Restaurants. Most active lender: Wilmington Savings Fund Society FSB (53).

  • Washington-Arlington-Alexandria, DC-VA-MD-WV

    484 purchase loans, median $655k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Live Oak Banking Company (66).

  • Baltimore-Columbia-Towson, MD

    247 purchase loans, median $630k. Bought most: Beer, Wine, and Liquor Retailers. Most active lender: Manufacturers and Traders Trust Company (58).

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 Maryland project address. Approvals, not closings; excludes conventional and 504 financing.