Top 25 SBA Lenders for Business Acquisitions in 2026
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Top 25 SBA Lenders for Business Acquisitions in 2026
SBA 7(a) loans remain the most common way to finance the purchase of a small or mid-sized US business. They offer long repayment terms and lower equity requirements than most conventional acquisition loans, but which lender you choose makes a real difference to how fast, and whether, your deal closes.
This guide ranks the 25 most active SBA 7(a) lenders by 2025 approval volume, using SBA loan-level data. It also shows each lender's average loan size, the simplest signal of whether a lender is set up for acquisition-sized deals or for small working capital loans.
In this article
Why buyers use SBA 7(a) loans for acquisitions
The SBA guarantees a large share of each 7(a) loan, which lets banks lend against a business's cash flow with less collateral and longer terms than they would otherwise accept. For buyers, that means lower monthly payments, a smaller equity cheque and the ability to finance goodwill, which conventional lenders are often reluctant to do.
Long terms
Acquisition loans typically amortise over ten years, or longer where real estate is included, keeping debt service manageable.
Lower equity
SBA rules set a minimum buyer equity injection, which is generally well below what conventional acquisition lenders require.
Goodwill financing
SBA lenders will finance the intangible value of a profitable business, not just its hard assets.
Seller note flexibility
Seller notes can sit alongside the SBA loan and, under conditions, count towards equity. See our guide to structuring seller notes.
For a full overview of the programme, read our guide to SBA 7(a) business acquisition loans.
Who is eligible in 2026
SBA eligibility has narrowed. Since 1 March 2026, 7(a) and 504 borrowers must be 100% owned by US citizens or US nationals whose principal residence is in the United States, according to a 2026 client alert from law firm Dickinson Wright. Green card holders, visa holders and foreign investors no longer qualify.
Not a US citizen? You can still finance an acquisition outside the SBA. Our page on business acquisition loans for foreign nationals explains the alternatives.
Top 25 SBA lenders ranked
The table ranks lenders by total SBA 7(a) approval volume for calendar year 2025, based on SBA FOIA loan-level data compiled by GoSBA Loans. The top of the table closely matches the Coleman Report Top 100 SBA 7(a) Lenders for FY2025, which also places Live Oak Bank first by dollar volume. Average loan size is calculated by Financely from the same figures.
| Rank and lender | 7(a) loans | 7(a) volume | Average loan |
|---|---|---|---|
| 1. Live Oak Bank | 2,148 | $2,676m | $1.25m |
| 2. Huntington National Bank | 6,071 | $1,862m | $307k |
| 3. Newtek Bank | 4,056 | $1,490m | $367k |
| 4. Northeast Bank | 6,307 | $1,099m | $174k |
| 5. ReadyCap Lending | 2,430 | $901m | $371k |
| 6. U.S. Bank | 3,138 | $853m | $272k |
| 7. First Internet Bank of Indiana | 474 | $675m | $1.42m |
| 8. Celtic Bank | 1,440 | $552m | $383k |
| 9. Byline Bank | 461 | $501m | $1.09m |
| 10. GBank | 178 | $488m | $2.74m |
| 11. Wells Fargo | 1,335 | $479m | $359k |
| 12. JPMorgan Chase | 1,471 | $465m | $316k |
| 13. Harvest Small Business Finance | 462 | $463m | $1.00m |
| 14. Bank of America | 753 | $453m | $601k |
| 15. TD Bank | 2,935 | $423m | $144k |
| 16. First Bank of the Lake | 575 | $393m | $683k |
| 17. Port 51 Lending | 217 | $360m | $1.66m |
| 18. United Midwest Savings Bank | 919 | $359m | $390k |
| 19. US Metro Bank | 172 | $352m | $2.05m |
| 20. Cadence Bank | 640 | $348m | $543k |
| 21. Bank of Hope | 391 | $332m | $848k |
| 22. M&T Bank | 2,782 | $302m | $109k |
| 23. Lendistry | 1,334 | $284m | $213k |
| 24. Brookline Bank | 223 | $278m | $1.25m |
| 25. Enterprise Bank & Trust | 167 | $274m | $1.64m |
How to read the ranking
Volume covers all 7(a) lending, not only acquisitions. SBA data does not separate change-of-ownership loans from working capital, refinancing or start-up loans, so a high rank shows overall SBA capacity rather than acquisition specialism.
Average loan size is the better acquisition signal. Business purchases usually need larger loans than working capital lines. Lenders averaging over $1 million per loan in 2025, such as Live Oak Bank, First Internet Bank, Byline Bank, GBank, Harvest Small Business Finance, Port 51 Lending, US Metro Bank, Brookline Bank and Enterprise Bank & Trust, are clearly comfortable with larger credits.
High-count, low-average lenders serve smaller deals. Lenders such as Northeast Bank, TD Bank and M&T Bank approve thousands of smaller loans. They can still fit a small acquisition, but buyers of larger businesses will usually find a better match higher up the average-size column.
How to choose the right SBA lender
Check Preferred Lender status. Preferred lenders can approve SBA loans in-house without sending each file to the SBA, which usually shortens the timeline.
Ask about acquisitions in your industry. Many lenders specialise in particular sectors, such as healthcare practices, franchises or professional services. A lender that has closed similar deals will understand your target's numbers faster.
Match the lender to your deal size. Use the average loan column above as a first filter, then ask each lender how many change-of-ownership loans of your size it closed in the last year.
Compare more than the rate. Most SBA loans are priced within a set spread over prime. Equity requirements, treatment of seller notes, collateral demands and closing speed matter more to whether your deal completes.
How to prepare before you apply
SBA lenders decline acquisition files for predictable reasons: unsupported add-backs, thin cash flow cover, missing equity documentation and incomplete financials. Preparing a complete credit package before approaching lenders avoids most of them.
Our checklist of documents needed for a business acquisition loan and our guide to DSCR requirements for acquisition loans cover the essentials. If you would rather have the file built for you, our Lender-Ready Package delivers a credit memo, model review, sources and uses and full KYC file at a fixed fee. For deals that fall outside the SBA, see our SBA alternative financing options.
Financing a business acquisition?
Financely prepares acquisition files that lenders can approve quickly and places them with SBA and conventional lenders that fit your deal. Tell us about the target and we will send a written quote with scope, fee and timeline.
Frequently asked questions
Who is the largest SBA lender for business acquisitions?
Live Oak Bank was the largest SBA 7(a) lender by dollar volume in 2025, with about $2.7 billion approved across more than 2,100 loans, and an average loan size above $1.2 million.
What is the maximum SBA 7(a) loan for buying a business?
The standard SBA 7(a) loan is capped at $5 million. Larger acquisitions usually combine an SBA loan with seller financing, conventional debt or additional equity.
Can green card holders still get SBA loans?
No. Since 1 March 2026, SBA 7(a) and 504 borrowers must be 100% owned by US citizens or US nationals living in the United States. Lawful permanent residents and visa holders need to use non-SBA financing.
Does a bigger lender mean a better acquisition lender?
Not necessarily. Total volume includes all types of 7(a) loans. Average loan size and experience with acquisitions in your industry are better guides to fit.
This article is general information only and is not legal, tax or investment advice. Lender rankings are based on third-party compilations of SBA 7(a) approval data and may differ from other sources or be restated. Inclusion does not imply endorsement or any relationship with Financely. Financely is an advisory and arranging firm, not a lender or broker-dealer. Any financing is subject to lender underwriting, due diligence, credit approval, documentation and conditions precedent. No outcome or timeline is guaranteed.
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