Who funded SBA acquisitions in FY2026
A sample of the free quarterly email: which lenders closed SBA 7(a) change-of-ownership loans, who grew fastest, and who leads at each deal size.
This is a sample issue built from SBA’s public loan-level data. It shows lender totals only, no borrower data. General information, not financial or legal advice.
SBA lenders made 6,667 7(a) loans to buy existing businesses in FY2026 (Oct 2025 to Sep 2026): $8.32B, median loan $770K, from 637 lenders. Two years earlier it was 5,560 loans, $6.17B and a $651K median. That’s +20% in loans and +35% in dollars.
Deals are getting bigger: 42% of FY2026 acquisition loans were $1M or more (36% in FY2024), and 766 were $3M+ (529 in FY2024).
1. Top lenders’ growth, FY24→FY26
Ranked by FY2026 acquisition loan count.
| Lender | FY24 loans | FY26 loans | FY26 dollars | Rank |
|---|---|---|---|---|
| Huntington National BankRank #1 → #1 | 579 | 760 | $610.0M | #1 → #1 |
| Live Oak Banking CompanyRank #2 → #2 | 539 | 668 | $930.1M | #2 → #2 |
| First Internet Bank of IndianaRank #5 → #3 | 103 | 201 | $242.7M | #5 → #3 |
| Byline BankRank #9 → #4 | 87 | 184 | $252.5M | #9 → #4 |
| PathwardRank #16 → #6 | 50 | 125 | $274.9M | #16 → #6 |
| US Metro BankRank #295 → #8 | 2 | 92 | $182.4M | #295 → #8 |
Pulled back: Old National Bank went from 107 loans to 46 (#4 → #28). GBank went from 116 to 75 (#3 → #16), but it still made $244.8M, fifth by dollars. Biggest dollar gain: Huntington, +$251M. Pathward was next, +$203M, with a median FY2026 loan near $1.85M.
Loans are credited to the lender SBA currently lists, so a bank merger can move loans between names.
2. Who leads at each deal size
The #1 lender by count isn’t the #1 by dollars. Huntington’s median FY2026 acquisition loan was $330K; Live Oak’s was $892.5K. Match the lender to your deal.
| Loan size | FY26 loans | Top lenders (loans) |
|---|---|---|
| Under $350K | 1,823 | Huntington 392 · Live Oak 157 · First Internet 68 |
| $350K–$1M | 2,040 | Live Oak 208 · Huntington 161 · Hanmi 63 |
| $1M–$2M | 1,378 | Live Oak 132 · Huntington 105 · Byline 55 |
| $2M–$5M | 1,426 | Live Oak 171 · Huntington 102 · Pathward 59 |
Band totals count every FY2026 acquisition loan, so the four bands add up to 6,667. A $2M or $5M loan falls in the $2M–$5M band.
3. State spotlight: Texas
Texas acquisition loans grew 42% in two years. In FY2026, Texas passed California in dollars ($970.3M vs $813.2M), even though California made slightly more loans (664 vs 632).
| Texas | FY2024 | FY2026 |
|---|---|---|
| Acquisition loans | 445 | 632 |
| Dollars | $609.3M | $970.3M |
| Median loan | $860K | $1.0M |
| Share $1M+ | 43% | 50% |
| Lenders active | 120 | 127 |
Most active Texas lenders in FY2026: Live Oak (75 loans, $108.4M), Huntington (74, $70.9M), Open Bank (25), Bankwell Bank (20) and First Internet Bank (20). Busiest sectors: accommodation & food services (117), retail (100) and other services (97). See every Texas acquisition lender.
What to watch
From Oct 1, 2026, SBA SOP 50 10 8.1 requires an independent quality-of-earnings report on 7(a) acquisitions with a business purchase price of $3M or more (Owner Buyouts and ESOPs exempt). With 766 loans at $3M+ last year, expect more lenders to ask for one earlier.
Source: SBA 7(a) FOIA loan-level data as of Sep 30, 2026; change-of-ownership loans; cancelled loans excluded; SBA fiscal years. Lender totals only, no borrower data. BuyoutLenders doesn’t take loan referral fees. How we count.
Get the SBA buyout lender rankings each quarter
Which lenders are actually closing SBA 7(a) change-of-ownership loans, by state, industry and deal size. Free, from public SBA data. No spam.
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