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Buying a Business in South Carolina

The Numbers

FY2025 Acquisition Loans

111

$135M approved

Median Loan

$750k

FY2020 through FY2025

Loans Since FY2020

508

$622M in total approvals

Share of U.S. Activity

1.4%

Of change-of-ownership loans

What the Data Says

South Carolina ranks 22nd of 53 states and territories for change-of-ownership SBA 7(a) lending: 508 loans since FY2020, 1% of the national total.

The typical deal runs large: its $750k median loan sits above the $650k midpoint across states, so expect bigger checks and the larger injection and cash flow they need.

Activity is accelerating: FY2025's 111 loans ran ahead of the state's own ~85 a year pace since FY2020.

The most-financed target is hotels (except casino hotels) and motels (64 loans), and the 5 most active lenders wrote about 43% of the state's acquisitions, a broad lender field.

Most Active Acquisition Lenders in South Carolina

  1. 1. Live Oak Banking Company90 loans
  2. 2. GBank38 loans
  3. 3. The Huntington National Bank31 loans
  4. 4. Countybank31 loans
  5. 5. Pinnacle Bank (TN)30 loans

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

What Gets Bought in South Carolina

  • Hotels (except Casino Hotels) and Motels64 loans
  • General Automotive Repair19 loans
  • Full-Service Restaurants18 loans
  • Insurance Agencies and Brokerages18 loans
  • Plumbing, Heating, and Air-Conditioning Contractors14 loans

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

By Metro Area in South Carolina

  • Charlotte-Concord-Gastonia, NC-SC

    331 purchase loans, median $836k. Bought most: Hotels (except Casino Hotels) and Motels. Most active lender: Live Oak Banking Company (94).

  • Greenville-Anderson-Greer, SC

    105 purchase loans, median $597k. Bought most: Full-Service Restaurants. Most active lender: Countybank (21).

  • Charleston-North Charleston, SC

    88 purchase loans, median $627k. Bought most: General Automotive Repair. Most active lender: The Huntington National Bank (10).

  • Columbia, SC

    88 purchase loans, median $738k. Bought most: Hotels (except Casino Hotels) and Motels. Most active lender: Live Oak Banking Company (22).

  • Augusta-Richmond County, GA-SC

    49 purchase loans, median $1.26M. Bought most: Hotels (except Casino Hotels) and Motels. Most active lender: GBank (8).

  • Hilton Head Island-Bluffton-Port Royal, SC

    37 purchase loans, median $714k. Bought most: Hotels (except Casino Hotels) and Motels. Most active lender: Live Oak Banking Company (6).

  • Myrtle Beach-Conway-North Myrtle Beach, SC

    31 purchase loans, median $753k. Bought most: Hotels (except Casino Hotels) and Motels. Most active lender: Live Oak Banking Company (4).

  • Spartanburg, SC

    28 purchase loans, median $775k. Bought most: General Automotive Repair. Most active lender: Live Oak Banking Company (6).

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