SBA loans in Florida: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 3,624 7(a) loans to buy an existing business in Florida, totaling $4.3B. The median loan was $751,700, 16% higher than the $645,250 national median for SBA-financed acquisitions. Volume rose 20% from FY2024 to FY2026.
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SBA lenders in Florida
The lenders that made the most SBA 7(a) acquisition loans in Florida, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 423 | 11.7% | $641M | |
| 2 | The Huntington National Bank | 332 | 9.2% | $283M | |
| 3 | First Internet Bank of Indiana | 134 | 3.7% | $199M | |
| 4 | SouthState Bank, National Association | 96 | 2.6% | $103M | |
| 5 | BayFirst National Bank | 87 | 2.4% | $58.9M | |
| 6 | Beacon Bank and Trust | 86 | 2.4% | $114M | |
| 7 | Byline Bank | 79 | 2.2% | $104M | |
| 8 | Seacoast National Bank | 72 | 2.0% | $60.1M | |
| 9 | United Midwest Savings Bank National Association | 70 | 1.9% | $60.2M | |
| 10 | Customers Bank | 66 | 1.8% | $67M |
What this tells a buyer
- Deal size band. Half of Florida acquisition loans fell between $350,000 and $1,584,250. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Florida accounts for 7.4% of all SBA acquisition loans and ranks number 3 of 54 states and territories by count.
- Industry concentration. Full-Service Restaurants is the most financed business type here (208 loans, 6% of the state). The top three industries together are 13%.
- Lender concentration. Live Oak Banking Company made 12% of the state's acquisition loans. No single lender dominates, so there are several lenders with local acquisition experience.
- Franchise resales. 15% of acquisition loans in Florida involved a franchised brand; the most frequent is The UPS Store (31 loans).
Florida acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 283 | $278M | $540,000 | |
| FY2019 | 415 | $417M | $625,000 | |
| FY2020 | 339 | $364M | $708,000 | |
| FY2021 | 450 | $583M | $837,050 | |
| FY2022 | 313 | $412M | $833,000 | |
| FY2023 | 294 | $322M | $711,500 | |
| FY2024 | 437 | $537M | $810,000 | |
| FY2025 | 569 | $710M | $769,000 | |
| FY2026 | 524 | $714M | $902,500 |
How often do these acquisition loans fail?
Of the 1,487 Florida acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 85 have been charged off by the SBA, a rate of 5.7% by loan count and 3.0% by dollars. 752 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 Florida is 63% 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.
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Top industries in Florida
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 208 | 5.7% | $193M | |
| 2 | Child Care Services | 138 | 3.8% | $150M | |
| 3 | All Other Specialty Trade Contractors | 135 | 3.7% | $191M | |
| 4 | Landscaping Services | 118 | 3.3% | $102M | |
| 5 | Insurance Agencies and Brokerages | 105 | 2.9% | $154M | |
| 6 | Plumbing, Heating, and Air-Conditioning Contractors | 102 | 2.8% | $122M | |
| 7 | Hotels (except Casino Hotels) and Motels | 97 | 2.7% | $322M | |
| 8 | Limited-Service Restaurants | 85 | 2.3% | $49.6M | |
| 9 | Offices of Certified Public Accountants | 72 | 2.0% | $59M | |
| 10 | General Automotive Repair | 65 | 1.8% | $62.9M |
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Franchise brands bought in Florida
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 31 | 0.9% | $19.1M | |
| 2 | Quality Inn | 10 | 0.3% | $39.3M | |
| 3 | Anytime Fitness | 10 | 0.3% | $9.5M | |
| 4 | Budget Blinds | 10 | 0.3% | $8.8M | |
| 5 | Firehouse Subs | 10 | 0.3% | $4.5M | |
| 6 | Tropical Smoothie Cafe | 9 | 0.2% | $6.1M | |
| 7 | La Quinta | 8 | 0.2% | $34.8M | |
| 8 | Home Instead | 8 | 0.2% | $8.8M | |
| 9 | Smartstyle | 8 | 0.2% | $6.4M | |
| 10 | Supercuts | 8 | 0.2% | $6.2M | |
| 11 | Smoothie King | 8 | 0.2% | $3.8M | |
| 12 | Sleep Inn | 7 | 0.2% | $29.8M | |
| 13 | Red Roof Inn | 7 | 0.2% | $20.4M | |
| 14 | Servpro | 7 | 0.2% | $11.6M | |
| 15 | Days Inn | 6 | 0.2% | $23.1M |
Acquisitions by industry in Florida
The 20 industries with the most acquisition loans in Florida (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.
Questions buyers ask
How much do buyers borrow to buy a business in Florida?
The median SBA 7(a) acquisition loan in Florida was $751,700 across 3,624 loans (FY2018 to FY2026), 16% higher than the $645,250 national median. The middle half of loans ran from $350,000 to $1,584,250. 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 Florida?
Live Oak Banking Company (423), The Huntington National Bank (332), First Internet Bank of Indiana (134), SouthState Bank, National Association (96), BayFirst National Bank (87). Live Oak Banking Company alone accounts for 12% of Florida acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Florida?
Full-Service Restaurants (208), Child Care Services (138), All Other Specialty Trade Contractors (135), Landscaping Services (118), Insurance Agencies and Brokerages (105). The top three industries make up 13% of the state's acquisition loans.
How often do SBA acquisition loans fail in Florida?
In the seasoned cohort (FY2018 to FY2021), among 1,487 Florida acquisition loans: 5.7% charged off, 63% higher than the 3.5% national acquisition average.
How does Florida compare with other states?
Florida ranks number 3 of 54 states and territories by acquisition loan count, with 7.4% of national volume (3,624 of 48,902 loans) and $4.3B approved. Browse the full state ranking.
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Related
- Full-Service Restaurants nationally
- Child Care Services nationally
- All Other Specialty Trade Contractors nationally
- Live Oak Banking Company
- The Huntington National Bank
- First Internet Bank of Indiana
- 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.