Acquisition Lender Index

Independent acquisition research

Explore acquisition lenders.

Find lenders with a history of financing business acquisitions. Compare approvals by state and industry, and see what the numbers can tell you about your search.

Browse states or industries while the explorer loads.

Acquisition loan approvals
20,769
Total approved
$24.4B
Median approved loan
$707K
SBA fiscal years
FY2024–FY2026

The research desk

Original analysis and practical guides based on the loan approvals behind the index.

All research
Market brief Fewer approvals, more dollars in FY2026Loan counts fell from FY2025 while approved dollars edged up. A three-year breakdown shows how both can be true. Industry analysis What a typical acquisition loan looks likeCompare the middle of the market across five industries and see how far the national median can miss. Lender analysis When national lender rankings miss the local marketA California restaurant case study shows how lender rankings change as you narrow the comparison. Buyer guide How to build a lender shortlist from approval dataA practical workflow for finding relevant lender history, interpreting small samples and comparing responses.

Business types

Browse by industry

Compare activity for businesses with similar operations.

Full-Service RestaurantsLimited-Service RestaurantsHotels (except Casino Hotels) and MotelsBeer, Wine, and Liquor RetailersGasoline Stations with Convenience StoresGeneral Automotive Repair
All published industry profiles
Administrative Management and General Management Consulting ServicesAdvertising AgenciesAdvertising Material Distribution ServicesAgents and Managers for Artists, Athletes, Entertainers, and Other Public FiguresAll Other Amusement and Recreation IndustriesAll Other Automotive Repair and MaintenanceAll Other Business Support ServicesAll Other Consumer Goods RentalAll Other Converted Paper Product ManufacturingAll Other General Merchandise RetailersAll Other Health and Personal Care RetailersAll Other Home Furnishings RetailersAll Other Industrial Machinery ManufacturingAll Other Insurance Related ActivitiesAll Other Legal ServicesAll Other Miscellaneous Ambulatory Health Care ServicesAll Other Miscellaneous Chemical Product and Preparation ManufacturingAll Other Miscellaneous Electrical Equipment and Component ManufacturingAll Other Miscellaneous Fabricated Metal Product ManufacturingAll Other Miscellaneous Food ManufacturingAll Other Miscellaneous General Purpose Machinery ManufacturingAll Other Miscellaneous ManufacturingAll Other Miscellaneous RetailersAll Other Miscellaneous Schools and InstructionAll Other Miscellaneous Textile Product MillsAll Other Miscellaneous Waste Management ServicesAll Other Miscellaneous Wood Product ManufacturingAll Other Outpatient Care CentersAll Other Personal ServicesAll Other Plastics Product ManufacturingAll Other Professional, Scientific, and Technical ServicesAll Other Specialty Food RetailersAll Other Specialty Trade ContractorsAll Other Support Activities for TransportationAll Other Support ServicesAll Other TelecommunicationsAll Other Transit and Ground Passenger TransportationAll Other Traveler AccommodationAmbulance ServicesAmusement ArcadesAmusement and Theme ParksAnimal (except Poultry) SlaughteringApparel Accessories and Other Apparel ManufacturingAppliance Repair and MaintenanceArchitectural ServicesAssisted Living Facilities for the ElderlyAutomobile Driving SchoolsAutomobile and Other Motor Vehicle Merchant WholesalersAutomotive Body, Paint, and Interior Repair and MaintenanceAutomotive Glass Replacement ShopsAutomotive Oil Change and Lubrication ShopsAutomotive Parts and Accessories RetailersBaked Goods RetailersBarber ShopsBeauty SalonsBed-and-Breakfast InnsBeer and Ale Merchant WholesalersBeer, Wine, and Liquor RetailersBlind and Shade ManufacturingBoat DealersBolt, Nut, Screw, Rivet, and Washer ManufacturingBook Retailers and News DealersBowling CentersBreweriesBrick, Stone, and Related Construction Material Merchant WholesalersBroilers and Other Meat Type Chicken ProductionBuilding Inspection ServicesCafeterias, Grill Buffets, and BuffetsCar WashesCarpet and Upholstery Cleaning ServicesCaterersCemeteries and CrematoriesChicken Egg ProductionChild Care ServicesChild and Youth ServicesClothing and Clothing Accessories Merchant WholesalersClothing and Clothing Accessories RetailersCoin-Operated Laundries and DrycleanersCollection AgenciesCommercial Air, Rail, and Water Transportation Equipment Rental and LeasingCommercial BakeriesCommercial PhotographyCommercial Printing (except Screen and Books)Commercial Screen PrintingCommercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and MaintenanceCommercial and Institutional Building ConstructionCommercial and Service Industry Machinery ManufacturingComputer Facilities Management ServicesComputer Systems Design ServicesComputer and Computer Peripheral Equipment and Software Merchant WholesalersComputing Infrastructure Providers, Data Processing, Web Hosting, and Related ServicesConfectionery and Nut RetailersConstruction Machinery ManufacturingConvenience RetailersConvenience StoresConvention and Trade Show OrganizersConveyor and Conveying Equipment ManufacturingCosmetics, Beauty Supplies, and Perfume RetailersCosmetology and Barber SchoolsCouriers and Express Delivery ServicesCustom Architectural Woodwork and Millwork ManufacturingCustom Computer Programming ServicesCut Stone and Stone Product ManufacturingDance CompaniesDental LaboratoriesDiagnostic Imaging CentersDiet and Weight Reducing CentersDirect Mail AdvertisingDirectory and Mailing List PublishersDocument Preparation ServicesDrinking Places (Alcoholic Beverages)Drugs and Druggists' Sundries Merchant WholesalersDrycleaning and Laundry Services (except Coin-Operated)Drywall and Insulation ContractorsEducational Support ServicesElectrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant WholesalersElectrical Contractors and Other Wiring Installation ContractorsElectronic and Precision Equipment Repair and MaintenanceElectronics and Appliance RetailersElectroplating, Plating, Polishing, Anodizing, and ColoringElementary and Secondary SchoolsEmployment Placement AgenciesEngineering ServicesEnvironmental Consulting ServicesExam Preparation and TutoringExecutive Search ServicesExterminating and Pest Control ServicesFabricated Structural Metal ManufacturingFacilities Support ServicesFarm Machinery and Equipment ManufacturingFarm Supplies Merchant WholesalersFarm and Garden Machinery and Equipment Merchant WholesalersFinancial Transactions Processing, Reserve, and Clearinghouse ActivitiesFine Arts SchoolsFinish Carpentry ContractorsFish and Seafood RetailersFitness and Recreational Sports CentersFlight TrainingFloor Covering RetailersFlooring ContractorsFloriculture ProductionFloristsFlower, Nursery Stock, and Florists' Supplies Merchant WholesalersFood (Health) Supplement RetailersFood Product Machinery ManufacturingFood Service ContractorsFreestanding Ambulatory Surgical and Emergency CentersFreight Transportation ArrangementFresh Fruit and Vegetable Merchant WholesalersFrozen Specialty Food ManufacturingFruit and Vegetable RetailersFuel DealersFull-Service RestaurantsFuneral Homes and Funeral ServicesFurniture Merchant WholesalersFurniture RetailersGasoline Stations with Convenience StoresGeneral Automotive RepairGeneral Freight Trucking, LocalGeneral Freight Trucking, Long-Distance, TruckloadGeneral Line Grocery Merchant WholesalersGeneral Rental CentersGift, Novelty, and Souvenir RetailersGlass Product Manufacturing Made of Purchased GlassGlass and Glazing ContractorsGolf Courses and Country ClubsGraphic Design ServicesHardware Merchant WholesalersHardware RetailersHighway, Street, and Bridge ConstructionHobby, Toy, and Game RetailersHome CentersHome Furnishing Merchant WholesalersHome Health Care ServicesHome and Garden Equipment Repair and MaintenanceHotels (except Casino Hotels) and MotelsIce Cream and Frozen Dessert ManufacturingIndependent Artists, Writers, and PerformersIndoor and Outdoor Display AdvertisingIndustrial Building ConstructionIndustrial Machinery and Equipment Merchant WholesalersIndustrial Mold ManufacturingIndustrial Supplies Merchant WholesalersIndustrial Valve ManufacturingIndustrial and Personal Service Paper Merchant WholesalersInsurance Agencies and BrokeragesInterior Design ServicesIron and Steel Pipe and Tube Manufacturing from Purchased SteelJanitorial ServicesJewelry RetailersJewelry, Watch, Precious Stone, and Precious Metal Merchant WholesalersLandscape Architectural ServicesLandscaping ServicesLessors of Miniwarehouses and Self-Storage UnitsLimited-Service RestaurantsLimousine ServiceLocal Messengers and Local DeliveryLocksmithsLumber, Plywood, Millwork, and Wood Panel Merchant WholesalersMachine ShopsMachine Tool ManufacturingMarketing Consulting ServicesMasonry ContractorsMeat Processed from CarcassesMeat RetailersMeat and Meat Product Merchant WholesalersMedia RepresentativesMedical LaboratoriesMedical, Dental, and Hospital Equipment and Supplies Merchant WholesalersMetal Coating, Engraving (except Jewelry and Silverware), and Allied Services to ManufacturersMetal Service Centers and Other Metal Merchant WholesalersMetal Window and Door ManufacturingMiscellaneous Financial Investment ActivitiesMobile Food ServicesMotion Picture and Video ProductionMotor Vehicle Supplies and New Parts Merchant WholesalersMotor Vehicle TowingMotorcycle, ATV, and All Other Motor Vehicle DealersMusical Instrument and Supplies RetailersNail SalonsNew Car DealersNew Single-Family Housing Construction (except For-Sale Builders)Newspaper PublishersNonresidential Property ManagersNursery and Tree ProductionNursery, Garden Center, and Farm Supply RetailersNursing Care Facilities (Skilled Nursing Facilities)Office Administrative ServicesOffice Equipment Merchant WholesalersOffice Machinery and Equipment Rental and LeasingOffice Supplies and Stationery RetailersOffices of All Other Miscellaneous Health PractitionersOffices of Certified Public AccountantsOffices of ChiropractorsOffices of DentistsOffices of LawyersOffices of Mental Health Practitioners (except Physicians)Offices of OptometristsOffices of Other Holding CompaniesOffices of Physical, Occupational and Speech Therapists, and AudiologistsOffices of Physicians (except Mental Health Specialists)Offices of Physicians, Mental Health SpecialistsOffices of PodiatristsOffices of Real Estate Agents and BrokersOptical Goods RetailersOrnamental and Architectural Metal Work ManufacturingOther Accounting ServicesOther Activities Related to Real EstateOther Aircraft Parts and Auxiliary Equipment ManufacturingOther Building Equipment ContractorsOther Building Finishing ContractorsOther Building Material DealersOther Business Service Centers (including Copy Shops)Other Chemical and Allied Products Merchant WholesalersOther Commercial Equipment Merchant WholesalersOther Commercial and Industrial Machinery and Equipment Rental and LeasingOther Computer Related ServicesOther Concrete Product ManufacturingOther Construction Material Merchant WholesalersOther Electronic Component ManufacturingOther Electronic Parts and Equipment Merchant WholesalersOther Foundation, Structure, and Building Exterior ContractorsOther Gasoline StationsOther Grocery and Related Products Merchant WholesalersOther Heavy and Civil Engineering ConstructionOther Individual and Family ServicesOther Leather and Allied Product ManufacturingOther Management Consulting ServicesOther Measuring and Controlling Device ManufacturingOther Millwork (including Flooring)Other Miscellaneous Durable Goods Merchant WholesalersOther Miscellaneous Nondurable Goods Merchant WholesalersOther Nonhazardous Waste Treatment and DisposalOther Personal Care ServicesOther Personal and Household Goods Repair and MaintenanceOther Poultry ProductionOther Professional Equipment and Supplies Merchant WholesalersOther Residential Care FacilitiesOther Scientific and Technical Consulting ServicesOther Services Related to AdvertisingOther Services to Buildings and DwellingsOther Specialized Design ServicesOther Support Activities for Road TransportationOther Technical and Trade SchoolsOther Waste CollectionOutdoor Power Equipment RetailersOutpatient Mental Health and Substance Abuse CentersPackaging and Labeling ServicesPacking and CratingPaint and Coating ManufacturingPaint, Varnish, and Supplies Merchant WholesalersPainting and Wall Covering ContractorsPayroll ServicesPeriodical PublishersPet Care (except Veterinary) ServicesPet and Pet Supplies RetailersPharmacies and Drug RetailersPhotography Studios, PortraitPiece Goods, Notions, and Other Dry Goods Merchant WholesalersPlastics Material and Resin ManufacturingPlastics Packaging Film and Sheet (including Laminated) ManufacturingPlumbing and Heating Equipment and Supplies (Hydronics) Merchant WholesalersPlumbing, Heating, and Air-Conditioning ContractorsPortfolio Management and Investment AdvicePostal ServicePoultry and Poultry Product Merchant WholesalersPoured Concrete Foundation and Structure ContractorsPower and Communication Line and Related Structures ConstructionPrecision Turned Product ManufacturingPrefabricated Metal Building and Component ManufacturingPrefabricated Wood Building ManufacturingPrinted Circuit Assembly (Electronic Assembly) ManufacturingPrivate Mail CentersProfessional Employer OrganizationsProfessional and Management Development TrainingPromoters of Performing Arts, Sports, and Similar Events with FacilitiesPromoters of Performing Arts, Sports, and Similar Events without FacilitiesPublic Relations AgenciesRV (Recreational Vehicle) Parks and CampgroundsRadio Broadcasting StationsRecreational Goods RentalRecreational Vehicle DealersRecyclable Material Merchant WholesalersRemediation ServicesResidential Intellectual and Developmental Disability FacilitiesResidential Mental Health and Substance Abuse FacilitiesResidential Property ManagersResidential RemodelersRetail BakeriesReupholstery and Furniture RepairRoofing ContractorsRubber and Plastics Hoses and Belting ManufacturingSaw Blade and Handtool ManufacturingScenic and Sightseeing Transportation, WaterSchool and Employee Bus TransportationSecurity Guards and Patrol ServicesSecurity Systems Services (except Locksmiths)Septic Tank and Related ServicesService Establishment Equipment and Supplies Merchant WholesalersServices for the Elderly and Persons with DisabilitiesSewing, Needlework, and Piece Goods RetailersSheet Metal Work ManufacturingShoe RetailersSiding ContractorsSign ManufacturingSite Preparation ContractorsSnack and Nonalcoholic Beverage BarsSoftware PublishersSoil Preparation, Planting, and CultivatingSolid Waste CollectionSpecial Die and Tool, Die Set, Jig, and Fixture ManufacturingSpecial Needs TransportationSpecialized Automotive RepairSpecialized Freight (except Used Goods) Trucking, LocalSpecialized Freight (except Used Goods) Trucking, Long-DistanceSporting Goods RetailersSporting and Athletic Goods ManufacturingSporting and Recreational Goods and Supplies Merchant WholesalersSports Teams and ClubsSports and Recreation InstructionStationery and Office Supplies Merchant WholesalersStructural Steel and Precast Concrete ContractorsSupermarkets and Other Grocery Retailers (except Convenience Retailers)Support Activities for Animal ProductionSupport Activities for ForestrySupport Activities for Oil and Gas OperationsSurgical and Medical Instrument ManufacturingSurveying and Mapping (except Geophysical) ServicesTax Preparation ServicesTemporary Help ServicesTesting Laboratories and ServicesTextile Bag and Canvas MillsTile and Terrazzo ContractorsTire DealersTitle Abstract and Settlement OfficesTobacco, Electronic Cigarette, and Other Smoking Supplies RetailersTour OperatorsToy and Hobby Goods and Supplies Merchant WholesalersTranslation and Interpretation ServicesTransportation Equipment and Supplies (except Motor Vehicle) Merchant WholesalersTravel AgenciesTruck Trailer ManufacturingUpholstered Household Furniture ManufacturingUsed Car DealersUsed Household and Office Goods MovingUsed Merchandise RetailersVending Machine OperatorsVeterinary ServicesVocational Rehabilitation ServicesWarm Air Heating and Air-Conditioning Equipment and Supplies Merchant WholesalersWater Supply and Irrigation SystemsWater and Sewer Line and Related Structures ConstructionWeb Search Portals and All Other Information ServicesWelding and Soldering Equipment ManufacturingWholesale Trade Agents and BrokersWindow Treatment RetailersWine and Distilled Alcoholic Beverage Merchant WholesalersWineriesWireless Telecommunications Carriers (except Satellite)Wood Container and Pallet ManufacturingWood Kitchen Cabinet and Countertop ManufacturingWood Window and Door Manufacturing
National lender rankings

Ranked by recorded approvals, then total approved dollars. Lender names are reported by the SBA.

#LenderLoansShareMedian loanTotal approved
1 The Huntington National Bank 2,32411%$344K$1.8B
2 Live Oak Banking Company 2,07910%$875K$2.8B
3 First Internet Bank of Indiana 5713%$933K$791.6M
4 Byline Bank 4582%$1.0M$636.4M
5 Hanmi Bank 3672%$633K$328.9M
6 GBank 3302%$2.8M$980.6M
7 United Midwest Savings Bank National Association 2991%$670K$269.3M
8 Celtic Bank Corporation 2731%$929K$395.2M
9 Pathward National Association 2571%$1.5M$526.1M
10 Old National Bank 2551%$566K$311.5M
11 Beacon Bank and Trust 2441%$1.5M$464.4M
12 Manufacturers and Traders Trust Company 2441%$297K$132.0M
13 Open Bank 2331%$1.2M$425.4M
14 Truliant FCU 2311%$1.2M$346.8M
15 TowneBank 2081%$968K$249.5M

Deals by SBA fiscal year

FY20196,140 loans, $5.5B
FY20205,547 loans, $5.7B
FY20216,616 loans, $7.5B
FY20224,981 loans, $5.7B
FY20235,041 loans, $5.5B
FY20246,053 loans, $6.7B
FY20257,532 loans, $8.8B
FY20267,184 loans, $8.9B

The most recent fiscal year is partial until the SBA publishes the full year.