SBA loans in Connecticut: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 416 7(a) loans to buy an existing business in Connecticut, totaling $457M. The median loan was $625,000, in line with the $645,250 national median for SBA-financed acquisitions. Volume rose 77% from FY2024 to FY2026.
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SBA lenders in Connecticut
The lenders that made the most SBA 7(a) acquisition loans in Connecticut, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 71 | 17.1% | $91M | |
| 2 | Manufacturers and Traders Trust Company | 46 | 11.1% | $26.2M | |
| 3 | Santander Bank, National Association | 31 | 7.5% | $35.4M | |
| 4 | Beacon Bank and Trust | 26 | 6.3% | $46.4M | |
| 5 | Liberty Bank | 21 | 5.0% | $7.2M | |
| 6 | The Huntington National Bank | 12 | 2.9% | $8.5M | |
| 7 | Celtic Bank Corporation | 9 | 2.2% | $19.5M | |
| 8 | Newtek Small Business Finance, LLC | 8 | 1.9% | $9.6M | |
| 9 | KeyBank National Association | 8 | 1.9% | $6.7M | |
| 10 | Ion Bank | 7 | 1.7% | $9.7M |
What this tells a buyer
- Deal size band. Half of Connecticut acquisition loans fell between $249,375 and $1,551,250. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Connecticut accounts for 0.9% of all SBA acquisition loans and ranks number 33 of 54 states and territories by count.
- Industry concentration. Beer, Wine, and Liquor Retailers is the most financed business type here (35 loans, 8% of the state). The top three industries together are 14%.
- Lender concentration. Live Oak Banking Company made 17% of the state's acquisition loans. No single lender dominates, so there are several lenders with local acquisition experience.
- Franchise resales. 13% of acquisition loans in Connecticut involved a franchised brand; the most frequent is The UPS Store (5 loans).
Connecticut acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 39 | $28.9M | $368,000 | |
| FY2019 | 56 | $57M | $410,250 | |
| FY2020 | 39 | $36.2M | $308,500 | |
| FY2021 | 42 | $41.9M | $805,500 | |
| FY2022 | 28 | $35.4M | $697,500 | |
| FY2023 | 45 | $50.2M | $708,000 | |
| FY2024 | 35 | $55.3M | $975,000 | |
| FY2025 | 70 | $87.9M | $750,000 | |
| FY2026 | 62 | $64.7M | $583,500 |
How often do these acquisition loans fail?
Of the 176 Connecticut 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 1.7% by loan count and 1.1% by dollars. 97 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 Connecticut is 52% 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.
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Top industries in Connecticut
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor Retailers | 35 | 8.4% | $19.8M | |
| 2 | General Automotive Repair | 11 | 2.6% | $7.9M | |
| 3 | Full-Service Restaurants | 11 | 2.6% | $5.8M | |
| 4 | Limited-Service Restaurants | 11 | 2.6% | $4.8M | |
| 5 | Beauty Salons | 10 | 2.4% | $4.9M | |
| 6 | Hotels (except Casino Hotels) and Motels | 9 | 2.2% | $25.8M | |
| 7 | Private Mail Centers | 9 | 2.2% | $6.8M | |
| 8 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | 1.9% | $11.1M | |
| 9 | Offices of Certified Public Accountants | 8 | 1.9% | $7.4M | |
| 10 | Home Health Care Services | 8 | 1.9% | $7.1M |
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Franchise brands bought in Connecticut
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 5 | 1.2% | $2.1M | |
| 2 | Paul Davis Restoration | 2 | 0.5% | $2.5M | |
| 3 | Mosquito Joe | 2 | 0.5% | $1.5M | |
| 4 | Always Best Care Services | 2 | 0.5% | $1.1M | |
| 5 | Play It Again Sports | 2 | 0.5% | $295K | |
| 6 | Comfort Inn | 1 | 0.2% | $4.5M | |
| 7 | Motel 6 | 1 | 0.2% | $3.7M | |
| 8 | Urban Air Adventure Park | 1 | 0.2% | $3.6M | |
| 9 | Super 8 | 1 | 0.2% | $3M | |
| 10 | The Learning Experience | 1 | 0.2% | $2.4M | |
| 11 | Supercuts | 1 | 0.2% | $2.3M | |
| 12 | Lawn Doctor | 1 | 0.2% | $2M | |
| 13 | Two Men and a Truck | 1 | 0.2% | $1.6M | |
| 14 | Quality Inn | 1 | 0.2% | $1.5M | |
| 15 | Subway | 1 | 0.2% | $1.2M |
Acquisitions by industry in Connecticut
The 5 industries with the most acquisition loans in Connecticut (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.
| Industry | Loans | Median loan | Charge-off |
|---|---|---|---|
| Beer, Wine, and Liquor Retailers | 35 | $350,000 | 10.0% |
| Full-Service Restaurants | 11 | $203,500 | n/a |
| Limited-Service Restaurants | 11 | $400,000 | n/a |
| General Automotive Repair | 11 | $667,000 | n/a |
| Beauty Salons | 10 | $90,500 | n/a |
Questions buyers ask
How much do buyers borrow to buy a business in Connecticut?
The median SBA 7(a) acquisition loan in Connecticut was $625,000 across 416 loans (FY2018 to FY2026), in line with the $645,250 national median. The middle half of loans ran from $249,375 to $1,551,250. 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 Connecticut?
Live Oak Banking Company (71), Manufacturers and Traders Trust Company (46), Santander Bank, National Association (31), Beacon Bank and Trust (26), Liberty Bank (21). Live Oak Banking Company alone accounts for 17% of Connecticut acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Connecticut?
Beer, Wine, and Liquor Retailers (35), General Automotive Repair (11), Full-Service Restaurants (11), Limited-Service Restaurants (11), Beauty Salons (10). The top three industries make up 14% of the state's acquisition loans.
How often do SBA acquisition loans fail in Connecticut?
In the seasoned cohort (FY2018 to FY2021), among 176 Connecticut acquisition loans: 1.7% charged off, 52% lower than the 3.5% national acquisition average.
How does Connecticut compare with other states?
Connecticut ranks number 33 of 54 states and territories by acquisition loan count, with 0.9% of national volume (416 of 48,902 loans) and $457M approved. Browse the full state ranking.
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Related
- Beer, Wine, and Liquor Retailers nationally
- General Automotive Repair nationally
- Full-Service Restaurants nationally
- Live Oak Banking Company
- Manufacturers and Traders Trust Company
- Santander Bank, National Association
- All states
- Buyer's guide to the data
State is the project state recorded by the lender (where the acquired business operates), not the borrower's mailing state.