Offices of Physicians: SBA business acquisition loan data
141 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Offices of Physicians (except Mental Health Specialists) (NAICS 621111), totaling $164M. Median loan $754,800, 17% higher than the all-acquisition median. Annual volume rose 107% from FY2024 to FY2026.
- Loans, FY2018-FY2026
- 141
- Median loan
- $754,800 (middle half $332,000 to $1,685,000)
- Top lender
- The Huntington National Bank (10%, 14 loans)
- Top state
- California
- Charge-off, FY2018-FY2021 loans
- 3.6% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 31 (+107% vs FY2025)
SBA lenders approved 141 7(a) loans to buy businesses in the Offices of Physicians industry from FY2018-FY2026, with a median of $754,800 and a middle half of $332,000 to $1,685,000. The Huntington National Bank made 10% of them. FY2026 had 31 loans, up 107% from FY2025.
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $1,685,000 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.3% of all SBA-financed business purchases, ranking #67 of 300 industries tracked.
- Geography. California leads with 18 loans; the top five states account for 44% of the industry's acquisitions.
- Jobs. Lenders reported 1,879 jobs supported across these loans, about 13.3 per acquisition, a rough proxy for the size of business changing hands.
How the Offices of Physicians industry compares
| Measure | Offices of Physicians | All acquisitions |
|---|---|---|
| Median loan | $754,800 | $645,250 |
| Middle half of loans | $332,000 to $1,685,000 | $283,000 to $1,465,000 |
| Average initial rate | 7.70% | 7.76% |
| Median term | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 3.6% | 3.5% |
| Loans in sample | 141 | 48,902 |
The median for Offices of Physicians acquisition loans is $754,800, above the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $332,000 to $1,685,000, against $283,000 to $1,465,000 nationally; the median term is 10 years, the same as the national median; the average initial rate is 7.70%, in line with the 7.76% national average.
Seasoned loans were charged off at 3.6%, in line with the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Offices of Physicians | All acquisitions |
|---|---|---|
| Under $350K | 29% | 30% |
| $350K to under $1M | 35% | 33% |
| $1M to under $2M | 16% | 19% |
| $2M and over | 21% | 17% |
Most Offices of Physicians acquisition loans (64%) were under $1M, and the largest single band is $350K to under $1M at 35%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
The Huntington National Bank made 10% of Offices of Physicians acquisition loans, and the top three lenders together made 20%. 11 of the 80 lenders involved made three or more. Repeat experience is spread across many banks. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 46 Offices of Physicians acquisition loans were approved. That is 64% more than the 28 approved in FY2023 and FY2024. The median was $519,000, below the $754,800 median across all years.
Offices of Physicians acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 10 | $8.8M | $269,000 | |
| FY2019 | 12 | $11.7M | $601,500 | |
| FY2020 | 15 | $18.6M | $1,194,500 | |
| FY2021 | 18 | $25.4M | $934,500 | |
| FY2022 | 12 | $21.8M | $1,446,500 | |
| FY2023 | 13 | $15.9M | $860,000 | |
| FY2024 | 15 | $20.3M | $785,000 | |
| FY2025 | 15 | $15.6M | $564,700 | |
| FY2026 | 31 | $25.7M | $491,100 |
How often do these acquisition loans fail?
Of the 55 Offices of Physicians acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 2 have been charged off by the SBA, a rate of 3.6% by loan count and 3.0% by dollars. 28 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Offices of Physicians is in line with the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Terms signed in the LOI shape the purchase agreement that follows.
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Top states
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 14 | 9.9% | $14.6M | |
| 2 | United Midwest Savings Bank National Association | 8 | 5.7% | $8.3M | |
| 3 | United Community Bank | 6 | 4.3% | $7.4M | |
| 4 | Genisys CU | 4 | 2.8% | $6.9M | |
| 5 | Citizens Bank | 4 | 2.8% | $2.3M | |
| 6 | First Internet Bank of Indiana | 3 | 2.1% | $5.5M | |
| 7 | BMO Bank National Association | 3 | 2.1% | $5M | |
| 8 | Byline Bank | 3 | 2.1% | $4.3M | |
| 9 | U.S. Bank, National Association | 3 | 2.1% | $2.7M | |
| 10 | Pinnacle Bank | 3 | 2.1% | $2.3M |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands in Offices of Physicians
1% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | American Family Care | 1 | 50.0% | $1.3M |
Questions buyers ask
How much is a typical SBA loan to buy a business in Offices of Physicians?
Median $754,800 across 141 acquisition loans (FY2018 to FY2026); the middle half ran $332,000 to $1,685,000. That is 17% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Offices of Physicians acquisitions?
The Huntington National Bank (14), United Midwest Savings Bank National Association (8), United Community Bank (6), Genisys CU (4), Citizens Bank (4).
Are businesses in Offices of Physicians often franchised?
Rarely. Only 1% of acquisition loans in this industry involved a franchised business; most are independent operators.
How risky are SBA loans for buying a business in Offices of Physicians?
Of 55 seasoned loans (FY2018 to FY2021), 3.6% charged off, in line with the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Offices of Physicians acquisitions?
Median term 10 years, average initial rate 7.70% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
How much do you need down for an SBA loan to buy a business in the Offices of Physicians industry?
The SBA requires the buyer to make an equity injection, commonly 10% of total project cost, and a lender may ask for more. The SBA file does not record injections, so the figures here are the financed portion: the median for Offices of Physicians acquisition loans was $754,800, and the middle half ran $332,000 to $1,685,000.
How long does an SBA acquisition loan take?
For a change-of-ownership 7(a) loan, 45 to 90 days from application to close is typical. It varies by lender and by how quickly third-party reports, such as the business valuation and appraisal, come back. The SBA file records approval dates, not application dates, so this site cannot measure it. Lenders approved 46 Offices of Physicians acquisition loans in FY2025 and FY2026.
Which banks make SBA loans for a business in the Offices of Physicians industry?
By loan count, FY2018 to FY2026: The Huntington National Bank (14), United Midwest Savings Bank National Association (8), United Community Bank (6), Genisys CU (4), Citizens Bank (4). The Huntington National Bank made 10% of Offices of Physicians acquisition loans. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Cite this data
SBA Acquisition Data, "Offices of Physicians: SBA acquisition loan data", https://sbaacquisitiondata.com/industry/offices-of-physicians-except-mental-health-specialists-621111 (data as of September 30, 2026). Source: U.S. Small Business Administration 7(a) loan file, data.sba.gov. Aggregated by SBA Acquisition Data.
The figures on this page are also published as JSON at https://sbaacquisitiondata.com/data/industry/offices-of-physicians-except-mental-health-specialists-621111.json.