Beer, Wine, and Liquor Retailers acquisitions in Massachusetts: SBA loan data
Since FY2018, SBA lenders have approved 49 7(a) loans to buy an existing business classified as Beer, Wine, and Liquor Retailers in Massachusetts, totaling $36.4M. The median loan was $677,000. That is 5.1% of the 963 acquisition loans in Massachusetts.
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How Beer, Wine, and Liquor Retailers in Massachusetts compares
| Measure | Beer, Wine, and Liquor... | Massachusetts, all industries | Beer, Wine, and Liquor..., nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $677,000 | $410,000 | $650,000 | $645,250 |
| Middle half of loans | $250,000 to $1,110,000 | $175,000 to $1,041,000 | $370,875 to $1,166,250 | $283,000 to $1,465,000 |
| Average initial rate | 6.62% | 7.34% | 7.66% | 7.76% |
| Median term | 10 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 4.2% | 3.2% | 1.4% | 3.5% |
| Loans in sample | 49 | 963 | 1,736 | 48,902 |
The median for loans to buy liquor stores in Massachusetts is $677,000, well above the $410,000 median for all Massachusetts acquisitions, in line with the $650,000 median for Beer, Wine, and Liquor Retailers acquisitions nationwide and in line with the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $250,000 to $1,110,000, 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 6.62%, below the 7.76% national average.
Seasoned loans were charged off at 4.2%, above the 3.2% rate for all Massachusetts acquisitions, well above the 1.4% rate for Beer, Wine, and Liquor Retailers acquisitions nationwide and above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Beer, Wine, and Liquor... | All acquisitions |
|---|---|---|
| Under $350K | 39% | 30% |
| $350K to under $1M | 27% | 33% |
| $1M to under $2M | 33% | 19% |
| $2M and over | 2% | 17% |
Most loans to buy liquor stores in Massachusetts (65%) were under $1M, and the largest single band is Under $350K at 39%, against 30% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Rockland Trust Company made 49% of loans to buy liquor stores in Massachusetts, and the top three lenders together made 69%. 3 of the 16 lenders involved made three or more. Only 3 lenders have repeat experience here. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 8 loans to buy liquor stores in Massachusetts were approved. That is 43% fewer than the 14 approved in FY2023 and FY2024. The median was $251,250, well below the $677,000 median across all years.
Beer, Wine, and Liquor Retailers acquisition loans in Massachusetts by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 8 | $4.3M | $412,500 | |
| FY2019 | 3 | $2.8M | $1,040,000 | |
| FY2020 | 4 | $3.9M | $839,500 | |
| FY2021 | 9 | $6.6M | $677,000 | |
| FY2022 | 3 | $5.1M | $1,700,000 | |
| FY2023 | 2 | $2.1M | $1,067,000 | |
| FY2024 | 12 | $7M | $487,800 | |
| FY2025 | 4 | $2.1M | $251,250 | |
| FY2026 | 4 | $2.6M | $580,000 |
How often do these acquisition loans fail?
Of the 24 Beer, Wine, and Liquor Retailers in Massachusetts acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 1 have been charged off by the SBA, a rate of 4.2% by loan count and 2.4% by dollars. 12 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 Beer, Wine, and Liquor Retailers in Massachusetts is 18% 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 lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Rockland Trust Company | 24 | 49.0% | $15.1M | |
| 2 | Customers Bank | 7 | 14.3% | $6.5M | |
| 3 | Leader Bank, National Association | 3 | 6.1% | $2M | |
| 4 | Coastal1 Credit Union | 2 | 4.1% | $780K | |
| 5 | Eastern Bank | 2 | 4.1% | $680K |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for Beer, Wine, and Liquor Retailers acquisitions in Massachusetts run?
The median SBA 7(a) loan was $677,000 across 49 loans (FY2018 to FY2026), with the middle half between $250,000 and $1,110,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Beer, Wine, and Liquor Retailers acquisitions in Massachusetts?
Rockland Trust Company (24), Customers Bank (7), Leader Bank, National Association (3), Coastal1 Credit Union (2), Eastern Bank (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Beer, Wine, and Liquor Retailers acquisition loans fail in Massachusetts?
4.2% of 24 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Beer, Wine, and Liquor Retailers acquisitions in Massachusetts?
None of the 49 loans in this combination were recorded with a franchise brand.
How much do you need down for an SBA loan to buy a liquor store in Massachusetts?
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 for loans to buy liquor stores in Massachusetts was $677,000, and the middle half ran $250,000 to $1,110,000.
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 8 loans to buy liquor stores in Massachusetts in FY2025 and FY2026.
Which banks make SBA loans for a liquor store in Massachusetts?
By loan count, FY2018 to FY2026: Rockland Trust Company (24), Customers Bank (7), Leader Bank, National Association (3), Coastal1 Credit Union (2), Eastern Bank (2). Rockland Trust Company made 49% of loans to buy liquor stores in Massachusetts. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Related
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Small samples move a lot: each loan in this combination is 2% of the count. Industry is the NAICS code the lender recorded. See the methodology.
Cite this data
SBA Acquisition Data, "Beer, Wine, and Liquor Retailers in Massachusetts: SBA acquisition loan data", https://sbaacquisitiondata.com/state/ma/beer-wine-and-liquor-retailers-445320 (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/state/ma/beer-wine-and-liquor-retailers-445320.json.