SBA loans in Denver: who lends, what gets bought
Since FY2018, SBA lenders have approved 961 7(a) loans to buy an existing business in the Denver area, totaling $1.0B. The median loan was $665,000, in line with the $645,250 national median. The area is Denver, Arapahoe, Jefferson, Adams and Douglas Counties, Colorado, which together make 51% of the state's acquisition loans.
- Loans, FY2018-FY2026
- 961
- Median loan
- $665,000 (middle half $345,000 to $1,390,000)
- Top lender
- Hanmi Bank (21%, 199 loans)
- Top industry
- Beer, Wine, and Liquor Retailers
- Charge-off, FY2018-FY2021 loans
- 3.5% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 117 (-22% vs FY2025)
SBA lenders approved 961 7(a) loans to buy a business in the Denver area from FY2018-FY2026, with a median of $665,000 and a middle half of $345,000 to $1,390,000. Hanmi Bank made 21% of them. 3.5% of 394 seasoned loans were charged off, in line with the 3.5% all-acquisition rate.
The purchase agreement decides what you bought, not the loan approval.
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SBA lenders in Denver
The lenders that made the most SBA 7(a) acquisition loans in the Denver area, FY2018 to FY2026. Many lend in more than one state; open a lender page to see where else it lends.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hanmi Bank | 199 | 20.7% | $155M | |
| 2 | Live Oak Banking Company | 103 | 10.7% | $123M | |
| 3 | The Huntington National Bank | 56 | 5.8% | $34.7M | |
| 4 | Wells Fargo Bank National Association | 37 | 3.9% | $31.2M | |
| 5 | PNC Bank, National Association | 22 | 2.3% | $39.1M | |
| 6 | Byline Bank | 21 | 2.2% | $30.3M | |
| 7 | Busey Bank | 21 | 2.2% | $21.4M | |
| 8 | BMO Bank National Association | 19 | 2.0% | $19.7M | |
| 9 | Bank of Hope | 19 | 2.0% | $12M | |
| 10 | Celtic Bank Corporation | 18 | 1.9% | $20.6M |
What gets bought in Denver
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor Retailers | 197 | 20.5% | $148M | |
| 2 | Full-Service Restaurants | 29 | 3.0% | $18.9M | |
| 3 | Child Care Services | 28 | 2.9% | $44.5M | |
| 4 | Hotels (except Casino Hotels) and Motels | 27 | 2.8% | $85.3M | |
| 5 | Limited-Service Restaurants | 24 | 2.5% | $14.4M | |
| 6 | General Automotive Repair | 22 | 2.3% | $23.4M | |
| 7 | All Other Specialty Trade Contractors | 19 | 2.0% | $15.5M | |
| 8 | Janitorial Services | 17 | 1.8% | $10M | |
| 9 | Plumbing, Heating, and Air-Conditioning Contractors | 15 | 1.6% | $24.4M | |
| 10 | Insurance Agencies and Brokerages | 15 | 1.6% | $9.5M |
Franchise brands bought in Denver
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Goddard School | 6 | 0.6% | $13.2M | |
| 2 | Primrose Schools | 5 | 0.5% | $14.7M | |
| 3 | Marco's Pizza | 5 | 0.5% | $6.8M | |
| 4 | Visiting Angels | 4 | 0.4% | $7.6M | |
| 5 | World Fuel Services | 4 | 0.4% | $5.8M | |
| 6 | Papa Murphy's Take 'N' Bake Pizza | 4 | 0.4% | $1.5M | |
| 7 | HomeTowne Studios by Red Roof | 3 | 0.3% | $14.2M | |
| 8 | Cold Stone Creamery | 3 | 0.3% | $1.8M | |
| 9 | Dairy Queen | 3 | 0.3% | $1.4M | |
| 10 | The UPS Store | 3 | 0.3% | $1.2M | |
| 11 | La Quinta | 2 | 0.2% | $8.4M | |
| 12 | FirstLight HomeCare | 2 | 0.2% | $2.8M | |
| 13 | Anytime Fitness | 2 | 0.2% | $2.3M | |
| 14 | Ace Hardware | 2 | 0.2% | $1.8M | |
| 15 | Grease Monkey | 2 | 0.2% | $1.5M |
The purchase agreement decides what you bought, not the loan approval.
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Denver acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 89 | $86M | $538,000 | |
| FY2019 | 102 | $96.3M | $658,500 | |
| FY2020 | 105 | $103M | $594,900 | |
| FY2021 | 98 | $126M | $801,500 | |
| FY2022 | 95 | $96.3M | $690,000 | |
| FY2023 | 102 | $91.4M | $523,500 | |
| FY2024 | 103 | $113M | $665,000 | |
| FY2025 | 150 | $154M | $707,050 | |
| FY2026 | 117 | $153M | $892,000 |
How often do these acquisition loans fail?
Of the 394 the Denver area acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 14 have been charged off by the SBA, a rate of 3.5% by loan count and 1.6% by dollars. 210 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 the Denver area 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.
How Denver compares
| Measure | Denver | Colorado, all | All acquisitions |
|---|---|---|---|
| Median loan | $665,000 | $661,000 | $645,250 |
| Middle half of loans | $345,000 to $1,390,000 | $339,175 to $1,392,050 | $283,000 to $1,465,000 |
| Average initial rate | 7.72% | 7.79% | 7.76% |
| Median term | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 3.5% | 4.1% | 3.5% |
| Loans in sample | 961 | 1,870 | 48,902 |
The median for Denver-area acquisition loans is $665,000, in line with the $661,000 median for all Colorado acquisitions and in line with the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $345,000 to $1,390,000, 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 7.72%, in line with the 7.76% national average.
Seasoned loans were charged off at 3.5%, below the 4.1% rate for all Colorado acquisitions and in line with the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Denver | All acquisitions |
|---|---|---|
| Under $350K | 25% | 30% |
| $350K to under $1M | 39% | 33% |
| $1M to under $2M | 21% | 19% |
| $2M and over | 15% | 17% |
Most Denver-area acquisition loans (65%) were under $1M, and the largest single band is $350K to under $1M at 39%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Hanmi Bank made 21% of Denver-area acquisition loans, and the top three lenders together made 37%. 60 of the 132 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, 267 Denver-area acquisition loans were approved. That is 30% more than the 205 approved in FY2023 and FY2024. The median was $765,000, above the $665,000 median across all years.
Seller note standby terms and third-party consents are reviewed before closing.
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Counties in the Denver area
Loans are assigned to the area by the project county the lender recorded, not the borrower's mailing address. The counties used, with loans in each:
| County | Loans |
|---|---|
| Denver, CO | 219 |
| Arapahoe, CO | 260 |
| Jefferson, CO | 238 |
| Adams, CO | 143 |
| Douglas, CO | 101 |
Questions buyers ask
How much do buyers borrow to buy a business in the Denver area?
The median SBA 7(a) acquisition loan in the Denver area was $665,000 across 961 loans (FY2018 to FY2026), in line with the $645,250 national median. The middle half of loans ran from $345,000 to $1,390,000. A loan is not the purchase price: it is net of the buyer's equity injection and usually includes some working capital.
Which banks make the most SBA acquisition loans in Denver?
Hanmi Bank (199), Live Oak Banking Company (103), The Huntington National Bank (56), Wells Fargo Bank National Association (37), PNC Bank, National Association (22). Hanmi Bank accounts for 21% of Denver-area acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Denver?
Beer, Wine, and Liquor Retailers (197), Full-Service Restaurants (29), Child Care Services (28), Hotels and Motels (27), Limited-Service Restaurants (24). Industry is the NAICS code the lender recorded.
How often do SBA acquisition loans fail in Denver?
In the seasoned cohort (FY2018 to FY2021), among 394 Denver-area acquisition loans: 3.5% charged off, in line with the 3.5% national acquisition average.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Colorado acquisitions
- Beer, Wine, and Liquor Retailers nationally
- Full-Service Restaurants nationally
- Child Care Services nationally
- Hanmi Bank
- Live Oak Banking Company
- The Huntington National Bank
- All metro areas
- SBA lenders by state
The metro area is a fixed list of counties chosen for this site, not an official statistical area. State is the project state recorded by the lender.
Cite this data
SBA Acquisition Data, "Denver, CO: SBA acquisition loan data", https://sbaacquisitiondata.com/metro/denver (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/metro/denver.json.