SBA loans in Maryland: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 679 7(a) loans to buy an existing business in Maryland, totaling $751M. The median loan was $653,000, in line with the $645,250 national median for SBA-financed acquisitions. Volume rose 88% from FY2024 to FY2026.
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SBA lenders in Maryland
The lenders that made the most SBA 7(a) acquisition loans in Maryland, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | 122 | 18.0% | $88.6M | |
| 2 | Live Oak Banking Company | 65 | 9.6% | $97.4M | |
| 3 | Hanmi Bank | 60 | 8.8% | $62.4M | |
| 4 | The Huntington National Bank | 31 | 4.6% | $28.5M | |
| 5 | Fulton Bank, National Association | 25 | 3.7% | $26M | |
| 6 | Beacon Bank and Trust | 19 | 2.8% | $26.3M | |
| 7 | First Internet Bank of Indiana | 16 | 2.4% | $27.7M | |
| 8 | Celtic Bank Corporation | 16 | 2.4% | $17.8M | |
| 9 | Capital Bank, National Association | 15 | 2.2% | $17.7M | |
| 10 | Wilmington Savings Fund Society FSB | 15 | 2.2% | $13.4M |
What this tells a buyer
- Deal size band. Half of Maryland acquisition loans fell between $300,000 and $1,514,600. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Maryland accounts for 1.4% of all SBA acquisition loans and ranks number 23 of 54 states and territories by count.
- Industry concentration. Beer, Wine, and Liquor Retailers is the most financed business type here (62 loans, 9% of the state). The top three industries together are 18%.
- Lender concentration. Manufacturers and Traders Trust Company made 18% of the state's acquisition loans. No single lender dominates, so there are several lenders with local acquisition experience.
- Franchise resales. 18% of acquisition loans in Maryland involved a franchised brand; the most frequent is The UPS Store (10 loans).
How Maryland compares
| Measure | Maryland | All acquisitions |
|---|---|---|
| Median loan | $653,000 | $645,250 |
| Middle half of loans | $300,000 to $1,514,600 | $283,000 to $1,465,000 |
| Average initial rate | 8.09% | 7.76% |
| Median term | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 5.4% | 3.5% |
| Loans in sample | 679 | 48,902 |
The median for Maryland acquisition loans is $653,000, in line with the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $300,000 to $1,514,600, 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 8.09%, above the 7.76% national average.
Seasoned loans were charged off at 5.4%, well above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Maryland | All acquisitions |
|---|---|---|
| Under $350K | 28% | 30% |
| $350K to under $1M | 34% | 33% |
| $1M to under $2M | 19% | 19% |
| $2M and over | 18% | 17% |
Most Maryland acquisition loans (62%) were under $1M, and the largest single band is $350K to under $1M at 34%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Manufacturers and Traders Trust Company made 18% of Maryland acquisition loans, and the top three lenders together made 36%. 56 of the 103 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, 229 Maryland acquisition loans were approved. That is 82% more than the 126 approved in FY2023 and FY2024. The median was $700,000, slightly above the $653,000 median across all years.
Maryland acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 50 | $31.8M | $440,300 | |
| FY2019 | 81 | $84.7M | $553,500 | |
| FY2020 | 47 | $53.9M | $630,000 | |
| FY2021 | 82 | $99.7M | $823,100 | |
| FY2022 | 64 | $79.5M | $861,600 | |
| FY2023 | 54 | $67.6M | $775,000 | |
| FY2024 | 72 | $74.3M | $641,500 | |
| FY2025 | 94 | $109M | $729,000 | |
| FY2026 | 135 | $151M | $665,000 |
How often do these acquisition loans fail?
Of the 260 Maryland 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 5.4% by loan count and 2.7% by dollars. 141 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 Maryland is 53% 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 Maryland
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor Retailers | 62 | 9.1% | $57.7M | |
| 2 | Full-Service Restaurants | 33 | 4.9% | $23.2M | |
| 3 | Limited-Service Restaurants | 30 | 4.4% | $15.2M | |
| 4 | General Automotive Repair | 24 | 3.5% | $11.6M | |
| 5 | Hotels (except Casino Hotels) and Motels | 18 | 2.7% | $49.3M | |
| 6 | Home Health Care Services | 15 | 2.2% | $20.4M | |
| 7 | Child Care Services | 13 | 1.9% | $15.1M | |
| 8 | Engineering Services | 12 | 1.8% | $23.6M | |
| 9 | All Other Specialty Trade Contractors | 12 | 1.8% | $10.4M | |
| 10 | All Other Professional, Scientific, and Technical Services | 11 | 1.6% | $18.2M |
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Franchise brands bought in Maryland
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 10 | 1.5% | $2.6M | |
| 2 | Subway | 8 | 1.2% | $1.6M | |
| 3 | Home Instead | 6 | 0.9% | $9.7M | |
| 4 | Super 8 | 3 | 0.4% | $4.9M | |
| 5 | Sunoco | 3 | 0.4% | $2.9M | |
| 6 | Red Roof Inn | 2 | 0.3% | $8.3M | |
| 7 | The Goddard School | 2 | 0.3% | $5.3M | |
| 8 | Days Inn | 2 | 0.3% | $4.4M | |
| 9 | BrightStar Care | 2 | 0.3% | $1.9M | |
| 10 | ServiceMaster | 2 | 0.3% | $1.6M | |
| 11 | Senior Helpers | 2 | 0.3% | $1.5M | |
| 12 | Rita's Ice-Custard-Happiness | 2 | 0.3% | $1.4M | |
| 13 | Domino's Pizza | 2 | 0.3% | $1.4M | |
| 14 | CertaPro Painters | 2 | 0.3% | $984K | |
| 15 | Kiddie Academy | 2 | 0.3% | $969K |
Acquisitions by industry in Maryland
The 12 industries with the most acquisition loans in Maryland (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 | 62 | $712,500 | 4.0% |
| Full-Service Restaurants | 33 | $400,000 | n/a |
| Limited-Service Restaurants | 30 | $350,000 | n/a |
| General Automotive Repair | 24 | $406,000 | n/a |
| Hotels and Motels | 18 | $2,360,250 | n/a |
| Home Health Care Services | 15 | $434,000 | n/a |
| Child Care Services | 13 | $970,000 | n/a |
| All Other Specialty Trade Contractors | 12 | $847,650 | n/a |
| Engineering Services | 12 | $1,227,700 | n/a |
| All Other Professional, Scientific, and Technical Services | 11 | $1,517,000 | n/a |
| General Freight Trucking, Local | 10 | $878,050 | n/a |
| Car Washes | 10 | $2,277,500 | n/a |
Questions buyers ask
How much do buyers borrow to buy a business in Maryland?
The median SBA 7(a) acquisition loan in Maryland was $653,000 across 679 loans (FY2018 to FY2026), in line with the $645,250 national median. The middle half of loans ran from $300,000 to $1,514,600. 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 Maryland?
Manufacturers and Traders Trust Company (122), Live Oak Banking Company (65), Hanmi Bank (60), The Huntington National Bank (31), Fulton Bank, National Association (25). Manufacturers and Traders Trust Company alone accounts for 18% of Maryland acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Maryland?
Beer, Wine, and Liquor Retailers (62), Full-Service Restaurants (33), Limited-Service Restaurants (30), General Automotive Repair (24), Hotels (except Casino Hotels) and Motels (18). The top three industries make up 18% of the state's acquisition loans.
How often do SBA acquisition loans fail in Maryland?
In the seasoned cohort (FY2018 to FY2021), among 260 Maryland acquisition loans: 5.4% charged off, 53% higher than the 3.5% national acquisition average.
How does Maryland compare with other states?
Maryland ranks number 23 of 54 states and territories by acquisition loan count, with 1.4% of national volume (679 of 48,902 loans) and $751M approved. Browse the full state ranking.
How much do you need down for an SBA loan to buy a business in Maryland?
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 Maryland acquisition loans was $653,000, and the middle half ran $300,000 to $1,514,600.
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 229 Maryland acquisition loans in FY2025 and FY2026.
Which banks make SBA loans for a business in Maryland?
By loan count, FY2018 to FY2026: Manufacturers and Traders Trust Company (122), Live Oak Banking Company (65), Hanmi Bank (60), The Huntington National Bank (31), Fulton Bank, National Association (25). Manufacturers and Traders Trust Company made 18% of Maryland acquisition loans. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Related
- Beer, Wine, and Liquor Retailers nationally
- Full-Service Restaurants nationally
- Limited-Service Restaurants nationally
- Manufacturers and Traders Trust Company
- Live Oak Banking Company
- Hanmi Bank
- 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.
Cite this data
SBA Acquisition Data, "Maryland: SBA acquisition loan data", https://sbaacquisitiondata.com/state/md (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/md.json.