Full-Service Restaurants acquisitions in Massachusetts: SBA loan data
Since FY2018, SBA lenders have approved 73 7(a) loans to buy an existing business classified as Full-Service Restaurants in Massachusetts, totaling $41.5M. The median loan was $250,000. That is 7.6% of the 963 acquisition loans in Massachusetts.
- Loans, FY2018-FY2026
- 73
- Median loan
- $250,000 (middle half $132,000 to $750,000)
- Top lender
- Rockland Trust Company (25%, 18 loans)
- Charge-off, FY2018-FY2021 loans
- 0.0% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 6 (-54% vs FY2025)
SBA lenders approved 73 7(a) loans to buy a business classified as Full-Service Restaurants in Massachusetts from FY2018-FY2026, with a median of $250,000 and a middle half of $132,000 to $750,000. Rockland Trust Company made 25% of them. FY2026 had 6 loans, down 54% from FY2025.
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How Full-Service Restaurants in Massachusetts compares
| Measure | Full-Service Restaurants in... | Massachusetts, all industries | Full-Service Restaurants, nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $250,000 | $410,000 | $411,700 | $645,250 |
| Middle half of loans | $132,000 to $750,000 | $175,000 to $1,041,000 | $225,000 to $819,000 | $283,000 to $1,465,000 |
| Average initial rate | 7.44% | 7.34% | 8.08% | 7.76% |
| Median term | 10 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 0.0% | 3.2% | 5.9% | 3.5% |
| Loans in sample | 73 | 963 | 2,797 | 48,902 |
The median for loans to buy restaurants in Massachusetts is $250,000, below the $410,000 median for all Massachusetts acquisitions, below the $411,700 median for Full-Service Restaurants acquisitions nationwide and well below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $132,000 to $750,000, 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 7.44%, below the 7.76% national average.
None of the seasoned loans were charged off, against 3.2% for all Massachusetts acquisitions, 5.9% for Full-Service Restaurants acquisitions nationwide and 3.5% for all acquisition loans.
Loan size distribution
| Loan size | Full-Service Restaurants in... | All acquisitions |
|---|---|---|
| Under $350K | 60% | 30% |
| $350K to under $1M | 19% | 33% |
| $1M to under $2M | 15% | 19% |
| $2M and over | 5% | 17% |
Most loans to buy restaurants in Massachusetts (79%) were under $1M, and the largest single band is Under $350K at 60%, 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 25% of loans to buy restaurants in Massachusetts, and the top three lenders together made 44%. 8 of the 25 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, 19 loans to buy restaurants in Massachusetts were approved. That is 10% fewer than the 21 approved in FY2023 and FY2024. The median was $250,000, in line with the $250,000 median across all years.
Full-Service Restaurants acquisition loans in Massachusetts by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 10 | $3.5M | $145,000 | |
| FY2019 | 9 | $4M | $347,000 | |
| FY2020 | 5 | $1.6M | $170,000 | |
| FY2021 | 1 | $80K | $80,100 | |
| FY2022 | 8 | $3.7M | $238,000 | |
| FY2023 | 11 | $10.7M | $544,000 | |
| FY2024 | 10 | $4.1M | $204,000 | |
| FY2025 | 13 | $7.1M | $240,000 | |
| FY2026 | 6 | $6.8M | $1,068,750 |
How often do these acquisition loans fail?
Of the 25 Full-Service Restaurants in Massachusetts acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 18 have already been paid in full.
For comparison, Full-Service Restaurants in Massachusetts has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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 | 18 | 24.7% | $8.4M | |
| 2 | Eastern Bank | 9 | 12.3% | $6.2M | |
| 3 | Northern Bank and Trust Company | 5 | 6.8% | $5.5M | |
| 4 | Santander Bank, National Association | 5 | 6.8% | $2.6M | |
| 5 | Greenfield Savings Bank | 4 | 5.5% | $535K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Ben & Jerry's | 1 | 1.4% | $150K |
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Questions buyers ask
How much do SBA loans for Full-Service Restaurants acquisitions in Massachusetts run?
The median SBA 7(a) loan was $250,000 across 73 loans (FY2018 to FY2026), with the middle half between $132,000 and $750,000. 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 Full-Service Restaurants acquisitions in Massachusetts?
Rockland Trust Company (18), Eastern Bank (9), Northern Bank and Trust Company (5), Santander Bank, National Association (5), Greenfield Savings Bank (4). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Full-Service Restaurants acquisition loans fail in Massachusetts?
Of 25 seasoned loans (FY2018 to FY2021), none were charged off, against the 3.5% rate 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 Full-Service Restaurants acquisitions in Massachusetts?
3 of the 73 loans (4%) involved a franchise brand, most often Ben & Jerry's (1).
How much do you need down for an SBA loan to buy a restaurant 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 restaurants in Massachusetts was $250,000, and the middle half ran $132,000 to $750,000.
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 19 loans to buy restaurants in Massachusetts in FY2025 and FY2026.
Which banks make SBA loans for a restaurant in Massachusetts?
By loan count, FY2018 to FY2026: Rockland Trust Company (18), Eastern Bank (9), Northern Bank and Trust Company (5), Santander Bank, National Association (5), Greenfield Savings Bank (4). Rockland Trust Company made 25% of loans to buy restaurants in Massachusetts. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Massachusetts acquisitions
- Financing one? How to get an SBA loan to buy a restaurant
- Full-Service Restaurants nationally
- Full-Service Restaurants in California
- Full-Service Restaurants in Texas
- Full-Service Restaurants in Florida
- Full-Service Restaurants in Washington
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- Full-Service Restaurants in Pennsylvania
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Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.
Cite this data
SBA Acquisition Data, "Full-Service Restaurants in Massachusetts: SBA acquisition loan data", https://sbaacquisitiondata.com/state/ma/full-service-restaurants-722511 (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/full-service-restaurants-722511.json.