SBA loans in San Francisco Bay Area: who lends, what gets bought
Since FY2018, SBA lenders have approved 738 7(a) loans to buy an existing business in the San Francisco Bay Area area, totaling $753M. The median loan was $577,500, 10% lower than the $645,250 national median. The area is San Francisco, San Mateo, Santa Clara, Alameda and Contra Costa Counties, California, which together make 14% of the state's acquisition loans.
- Loans, FY2018-FY2026
- 738
- Median loan
- $577,500 (middle half $320,700 to $1,274,800)
- Top lender
- Live Oak Banking Company (18%, 132 loans)
- Top industry
- Full-Service Restaurants
- Charge-off, FY2018-FY2021 loans
- 4.5% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 89 (+16% vs FY2025)
SBA lenders approved 738 7(a) loans to buy a business in the San Francisco Bay Area area from FY2018-FY2026, with a median of $577,500 and a middle half of $320,700 to $1,274,800. Live Oak Banking Company made 18% of them. FY2026 had 89 loans, up 16% from FY2025.
Terms signed in the LOI shape the purchase agreement that follows.
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SBA lenders in San Francisco Bay Area
The lenders that made the most SBA 7(a) acquisition loans in the San Francisco Bay Area 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 | Live Oak Banking Company | 132 | 17.9% | $202M | |
| 2 | Plumas Bank | 45 | 6.1% | $30.4M | |
| 3 | U.S. Bank, National Association | 43 | 5.8% | $36.8M | |
| 4 | Open Bank | 37 | 5.0% | $31.1M | |
| 5 | BMO Bank National Association | 27 | 3.7% | $23.4M | |
| 6 | United Business Bank | 23 | 3.1% | $30.7M | |
| 7 | Celtic Bank Corporation | 23 | 3.1% | $23.4M | |
| 8 | The Huntington National Bank | 22 | 3.0% | $12.8M | |
| 9 | VelocitySBA, LLC | 20 | 2.7% | $17.5M | |
| 10 | Pinnacle Bank | 18 | 2.4% | $26.3M |
What gets bought in San Francisco Bay Area
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 51 | 6.9% | $29.1M | |
| 2 | Limited-Service Restaurants | 48 | 6.5% | $27.8M | |
| 3 | Beer, Wine, and Liquor Retailers | 43 | 5.8% | $29.7M | |
| 4 | General Automotive Repair | 26 | 3.5% | $18.6M | |
| 5 | Child Care Services | 23 | 3.1% | $34.2M | |
| 6 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 18 | 2.4% | $18.4M | |
| 7 | Convenience Retailers | 18 | 2.4% | $8.4M | |
| 8 | Snack and Nonalcoholic Beverage Bars | 18 | 2.4% | $7.6M | |
| 9 | Gasoline Stations with Convenience Stores | 16 | 2.2% | $37.6M | |
| 10 | Assisted Living Facilities for the Elderly | 12 | 1.6% | $18.5M |
Franchise brands bought in San Francisco Bay Area
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 15 | 2.0% | $6.2M | |
| 2 | Round Table Pizza | 9 | 1.2% | $8.9M | |
| 3 | Home Instead | 7 | 0.9% | $6.6M | |
| 4 | Paris Baguette | 7 | 0.9% | $6M | |
| 5 | Mountain Mike's Pizza | 6 | 0.8% | $4.5M | |
| 6 | Baskin-Robbins | 6 | 0.8% | $1.9M | |
| 7 | Togo's | 5 | 0.7% | $2.2M | |
| 8 | Subway | 4 | 0.5% | $795K | |
| 9 | Chevron | 2 | 0.3% | $7.8M | |
| 10 | Ameriprise Financial | 2 | 0.3% | $2.7M | |
| 11 | FASTSIGNS | 2 | 0.3% | $2.6M | |
| 12 | Big O Tires | 2 | 0.3% | $1.9M | |
| 13 | European Wax Center | 2 | 0.3% | $887K | |
| 14 | Budget Blinds | 2 | 0.3% | $626K | |
| 15 | Papa Murphy's Take 'N' Bake Pizza | 2 | 0.3% | $548K |
Terms signed in the LOI shape the purchase agreement that follows.
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San Francisco Bay Area acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 72 | $51.7M | $460,000 | |
| FY2019 | 83 | $70.3M | $467,000 | |
| FY2020 | 72 | $76.3M | $520,750 | |
| FY2021 | 84 | $95M | $631,250 | |
| FY2022 | 79 | $91M | $785,000 | |
| FY2023 | 91 | $100M | $541,800 | |
| FY2024 | 91 | $92.4M | $600,000 | |
| FY2025 | 77 | $76.1M | $522,300 | |
| FY2026 | 89 | $99.8M | $680,000 |
How often do these acquisition loans fail?
Of the 311 the San Francisco Bay Area 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 4.5% by loan count and 2.6% by dollars. 172 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 San Francisco Bay Area area is 28% higher 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.
How San Francisco Bay Area compares
| Measure | Bay Area | California, all | All acquisitions |
|---|---|---|---|
| Median loan | $577,500 | $600,000 | $645,250 |
| Middle half of loans | $320,700 to $1,274,800 | $296,225 to $1,395,000 | $283,000 to $1,465,000 |
| Average initial rate | 7.91% | 7.87% | 7.76% |
| Median term | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 4.5% | 4.1% | 3.5% |
| Loans in sample | 738 | 5,184 | 48,902 |
The median for San Francisco Bay Area-area acquisition loans is $577,500, in line with the $600,000 median for all California acquisitions and slightly below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $320,700 to $1,274,800, 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 7.91%, above the 7.76% national average.
Seasoned loans were charged off at 4.5%, in line with the 4.1% rate for all California acquisitions and above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Bay Area | All acquisitions |
|---|---|---|
| Under $350K | 28% | 30% |
| $350K to under $1M | 41% | 33% |
| $1M to under $2M | 16% | 19% |
| $2M and over | 15% | 17% |
Most San Francisco Bay Area-area acquisition loans (69%) were under $1M, and the largest single band is $350K to under $1M at 41%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Live Oak Banking Company made 18% of San Francisco Bay Area-area acquisition loans, and the top three lenders together made 30%. 52 of the 110 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, 166 San Francisco Bay Area-area acquisition loans were approved. That is 9% fewer than the 182 approved in FY2023 and FY2024. The median was $633,000, slightly above the $577,500 median across all years.
Seller note standby terms and third-party consents are reviewed before closing.
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Counties in the San Francisco Bay Area 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 |
|---|---|
| San Francisco, CA | 80 |
| San Mateo, CA | 66 |
| Santa Clara, CA | 243 |
| Alameda, CA | 217 |
| Contra Costa, CA | 132 |
Questions buyers ask
How much do buyers borrow to buy a business in the San Francisco Bay Area area?
The median SBA 7(a) acquisition loan in the San Francisco Bay Area area was $577,500 across 738 loans (FY2018 to FY2026), 10% lower than the $645,250 national median. The middle half of loans ran from $320,700 to $1,274,800. 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 San Francisco Bay Area?
Live Oak Banking Company (132), Plumas Bank (45), U.S. Bank, National Association (43), Open Bank (37), BMO Bank National Association (27). Live Oak Banking Company accounts for 18% of San Francisco Bay Area-area acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in San Francisco Bay Area?
Full-Service Restaurants (51), Limited-Service Restaurants (48), Beer, Wine, and Liquor Retailers (43), General Automotive Repair (26), Child Care Services (23). Industry is the NAICS code the lender recorded.
How often do SBA acquisition loans fail in San Francisco Bay Area?
In the seasoned cohort (FY2018 to FY2021), among 311 San Francisco Bay Area-area acquisition loans: 4.5% charged off, 28% higher than the 3.5% national acquisition average.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All California acquisitions
- Full-Service Restaurants nationally
- Limited-Service Restaurants nationally
- Beer, Wine, and Liquor Retailers nationally
- Live Oak Banking Company
- Plumas Bank
- U.S. Bank, National Association
- 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, "San Francisco Bay Area, CA: SBA acquisition loan data", https://sbaacquisitiondata.com/metro/san-francisco-bay-area (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/san-francisco-bay-area.json.