Open Bank: SBA business acquisition lending record
Open Bank (home state CA) approved 505 SBA 7(a) loans to buy existing businesses since FY2018, totaling $871M. The median loan was $1,140,000. It ranks number 12 of 280 lenders by count and made 1.0% of all SBA acquisition loans nationally.
- Loans, FY2018-FY2026
- 505
- Median loan
- $1,140,000 (middle half $479,000 to $2,686,000)
- Top state
- California (50%, 255 loans)
- Top industry
- Hotels and Motels
- Charge-off, FY2018-FY2021 loans
- 1.6% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 82 (+37% vs FY2025)
Open Bank approved 505 SBA 7(a) loans to buy businesses from FY2018-FY2026, with a median of $1,140,000 and a middle half of $479,000 to $2,686,000. California accounted for 50% of them. 1.6% of 183 seasoned loans were charged off, 53% lower than the 3.5% all-acquisition rate.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $479,000 and $2,686,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. California is the largest state (50% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Hotels (except Casino Hotels) and Motels is 23% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 801 SBA 7(a) loans of any purpose since FY2020, totaling $1.4B. 95% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 31% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 1.6% charged off, 53% lower than the 3.5% national average.
How Open Bank compares
| Measure | Open Bank | All acquisitions |
|---|---|---|
| Median loan | $1,140,000 | $645,250 |
| Middle half of loans | $479,000 to $2,686,000 | $283,000 to $1,465,000 |
| Average initial rate | 7.67% | 7.76% |
| Median term | 25 years | 10 years |
| Charge-off rate (seasoned loans) | 1.6% | 3.5% |
| Loans in sample | 505 | 48,902 |
The median for Open Bank acquisition loans is $1,140,000, well above the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $479,000 to $2,686,000, against $283,000 to $1,465,000 nationally; the median term is 25 years, longer than the national median of 10 years; the average initial rate is 7.67%, in line with the 7.76% national average.
Seasoned loans were charged off at 1.6%, well below the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Open Bank | All acquisitions |
|---|---|---|
| Under $350K | 16% | 30% |
| $350K to under $1M | 31% | 33% |
| $1M to under $2M | 18% | 19% |
| $2M and over | 35% | 17% |
Most Open Bank acquisition loans (52%) were $1M or more, and the largest single band is $2M and over at 35%, against 17% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
State concentration
California made 51% of its loans and the top three states together made 73%. It made three or more loans in 17 of the 32 states where it lends. Its largest industry, Hotels and Motels, is 23% of its acquisition loans.
Recent activity
In FY2025 and FY2026 combined, 142 Open Bank acquisition loans were approved. That is about the same as the 138 approved in FY2023 and FY2024. The median was $1,462,000, above the $1,140,000 median across all years.
Open Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 42 | $45.9M | $390,000 | |
| FY2019 | 36 | $44.4M | $892,000 | |
| FY2020 | 52 | $64.3M | $882,500 | |
| FY2021 | 53 | $111M | $1,800,000 | |
| FY2022 | 42 | $98.4M | $2,180,500 | |
| FY2023 | 66 | $110M | $887,500 | |
| FY2024 | 72 | $125M | $942,500 | |
| FY2025 | 60 | $117M | $1,303,000 | |
| FY2026 | 82 | $155M | $1,554,500 |
How often do these acquisition loans fail?
Of the 183 Open Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 3 have been charged off by the SBA, a rate of 1.6% by loan count and 0.1% by dollars. 116 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 Open Bank is 53% lower than 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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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 255 | 50.5% | $351M | |
| 2 | Texas | 76 | 15.0% | $165M | |
| 3 | Washington | 39 | 7.7% | $85.6M | |
| 4 | Georgia | 33 | 6.5% | $52.9M | |
| 5 | Colorado | 18 | 3.6% | $36.3M | |
| 6 | Oregon | 14 | 2.8% | $31.4M | |
| 7 | North Carolina | 8 | 1.6% | $14.5M | |
| 8 | New Mexico | 7 | 1.4% | $19.1M | |
| 9 | Nevada | 5 | 1.0% | $12.4M | |
| 10 | Florida | 4 | 0.8% | $17.4M | |
| 11 | Oklahoma | 4 | 0.8% | $11.7M | |
| 12 | Ohio | 4 | 0.8% | $8.4M | |
| 13 | Pennsylvania | 4 | 0.8% | $5.7M | |
| 14 | Maryland | 4 | 0.8% | $3.7M | |
| 15 | Nebraska | 3 | 0.6% | $10.5M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 114 | 22.6% | $369M | |
| 2 | Beer, Wine, and Liquor Retailers | 104 | 20.6% | $96.1M | |
| 3 | Gasoline Stations with Convenience Stores | 99 | 19.6% | $216M | |
| 4 | Full-Service Restaurants | 40 | 7.9% | $18M | |
| 5 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 28 | 5.5% | $29.2M | |
| 6 | Limited-Service Restaurants | 27 | 5.3% | $13.6M | |
| 7 | Convenience Retailers | 19 | 3.8% | $24.2M | |
| 8 | Coin-Operated Laundries and Drycleaners | 16 | 3.2% | $27.6M | |
| 9 | Car Washes | 15 | 3.0% | $28.9M | |
| 10 | Snack and Nonalcoholic Beverage Bars | 9 | 1.8% | $3.8M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Best Western | 9 | 1.8% | $32M | |
| 2 | Days Inn | 9 | 1.8% | $27.2M | |
| 3 | Motel 6 | 8 | 1.6% | $25.1M | |
| 4 | Super 8 | 6 | 1.2% | $18.7M | |
| 5 | Rodeway Inn | 6 | 1.2% | $16.8M | |
| 6 | AM/PM Mini-Mart | 5 | 1.0% | $15.3M | |
| 7 | Christensen Inc. | 5 | 1.0% | $12M | |
| 8 | Ed Staubs & Sons Petroleum (Multi-brands) | 5 | 1.0% | $9.3M | |
| 9 | Boyett Petroleum | 4 | 0.8% | $10.1M | |
| 10 | It's Boba Time | 4 | 0.8% | $2.1M |
Questions buyers ask
Does Open Bank make SBA acquisition loans?
Yes. Open Bank approved 505 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 12 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are Open Bank's acquisition loans?
The median was $1,140,000, with the middle half between $479,000 and $2,686,000. The national median is $645,250, so this lender's typical loan is 77% higher than the national figure.
Which states does Open Bank lend in?
California (255), Texas (76), Washington (39), Georgia (33), Colorado (18), Oregon (14). Its loans span at least 15 states.
Which industries does Open Bank finance?
Hotels (except Casino Hotels) and Motels (114), Beer, Wine, and Liquor Retailers (104), Gasoline Stations with Convenience Stores (99), Full-Service Restaurants (40), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (28). The top industry is 23% of its acquisition loans.
How have Open Bank's acquisition loans performed?
Of 183 loans approved FY2018 to FY2021: 1.6% charged off, 53% lower than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
How much do you need down for an SBA loan from Open Bank?
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 loan from Open Bank was $1,140,000, and the middle half ran $479,000 to $2,686,000.
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 142 Open Bank acquisition loans in FY2025 and FY2026.
How does Open Bank rank among banks that make SBA acquisition loans?
Open Bank ranks number 12 of 280 lenders with 25 or more acquisition loans, with 1.0% of national volume. Next to it by count: Old National Bank (566) and Stearns Bank National Association (481). Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Related
- California acquisitions
- Texas acquisitions
- Washington acquisitions
- Hotels (except Casino Hotels) and Motels
- Beer, Wine, and Liquor Retailers
- Gasoline Stations with Convenience Stores
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Open Bank.
Cite this data
SBA Acquisition Data, "Open Bank: SBA acquisition loan data", https://sbaacquisitiondata.com/lender/open-bank (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/lender/open-bank.json.