SBA acquisition lenders in Rhode Island
60 SBA 7(a) change-of-ownership loans in Rhode Island, FY2024–FY2026. Lender rankings, typical loan size, rates and the industries changing hands.
- Acquisitions financed
- 60
- Total approved
- $63.8M
- Median loan
- $564K
- Middle half of loans
- $292K to $1.4M
- Median starting rate
- 9.00%
- Median term
- 10 yrs
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Lenders financing the most acquisitions in Rhode Island
| # | Lender | Loans | Share | Median loan | Total approved |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 8 | 13% | $1.4M | $14.0M |
| 2 | Beacon Bank and Trust | 6 | 10% | $1.0M | $9.3M |
| 3 | Santander Bank, National Association | 5 | 8% | $1.3M | $7.3M |
| 4 | Rockland Trust Company | 5 | 8% | $180K | $1.8M |
| 5 | Bristol County Savings Bank | 4 | 7% | $425K | $3.5M |
| 6 | The Huntington National Bank | 4 | 7% | $312K | $2.8M |
| 7 | Citizens Bank, National Association | 4 | 7% | $328K | $1.4M |
| 8 | The Washington Trust Company of Westerly | 3 | 5% | $308K | $1.3M |
| 9 | Readycap Lending, LLC | 2 | 3% | $3.6M | $7.2M |
| 10 | Climate First Bank | 2 | 3% | $551K | $1.1M |
| 11 | American Momentum Bank | 2 | 3% | $535K | $1.1M |
| 12 | Bankwell Bank | 1 | 2% | $2.5M | $2.5M |
| 13 | VelocitySBA, LLC | 1 | 2% | $2.4M | $2.4M |
| 14 | Byline Bank | 1 | 2% | $1.6M | $1.6M |
| 15 | Fund-Ex Solutions Group, LLC | 1 | 2% | $950K | $950K |
What is being bought in Rhode Island
| # | Industry | Loans | Share | Median loan | Total approved |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 8 | 13% | $376K | $3.5M |
| 2 | All Other Personal Services | 4 | 7% | $1.5M | $6.0M |
| 3 | Beer, Wine, and Liquor Retailers | 4 | 7% | $385K | $1.6M |
| 4 | Other Miscellaneous Durable Goods Merchant Wholesalers | 3 | 5% | $2.6M | $8.1M |
| 5 | Home Health Care Services | 3 | 5% | $1.9M | $5.0M |
| 6 | Hotels (except Casino Hotels) and Motels | 2 | 3% | $3.6M | $7.2M |
| 7 | Convenience Retailers | 2 | 3% | $1.3M | $2.6M |
| 8 | Offices of Certified Public Accountants | 2 | 3% | $1.3M | $2.5M |
| 9 | All Other Specialty Trade Contractors | 2 | 3% | $1.2M | $2.3M |
| 10 | Landscaping Services | 2 | 3% | $551K | $1.1M |
| 11 | Interior Design Services | 2 | 3% | $535K | $1.1M |
| 12 | Other Building Equipment Contractors | 2 | 3% | $225K | $450K |
| 13 | Assisted Living Facilities for the Elderly | 1 | 2% | $4.9M | $4.9M |
| 14 | Insurance Agencies and Brokerages | 1 | 2% | $2.5M | $2.5M |
| 15 | All Other Industrial Machinery Manufacturing | 1 | 2% | $2.1M | $2.1M |