SBA loans in Maine: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 214 7(a) loans to buy an existing business in Maine, totaling $128M. The median loan was $250,000, 61% lower than the $645,250 national median for SBA-financed acquisitions. Volume rose 15% from FY2024 to FY2026.
SBA acquisition counsel, nationwide. Free consultation.
SBA lenders in Maine
The lenders that made the most SBA 7(a) acquisition loans in Maine, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bangor Savings Bank | 31 | 14.5% | $6.3M | |
| 2 | Maine Community Bank | 29 | 13.6% | $20.7M | |
| 3 | Machias Savings Bank | 21 | 9.8% | $9.8M | |
| 4 | Live Oak Banking Company | 16 | 7.5% | $20.1M | |
| 5 | Norway Savings Bank | 16 | 7.5% | $5.3M | |
| 6 | Kennebunk Savings Bank | 15 | 7.0% | $5.2M | |
| 7 | Bath Savings Institution | 10 | 4.7% | $2.6M | |
| 8 | Androscoggin Savings Bank | 8 | 3.7% | $2.9M | |
| 9 | Katahdin Trust Company | 6 | 2.8% | $918K | |
| 10 | Atlantic Regional Federal Credit Union | 6 | 2.8% | $469K |
What this tells a buyer
- Deal size band. Half of Maine acquisition loans fell between $106,250 and $762,375. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Maine accounts for 0.4% of all SBA acquisition loans and ranks number 40 of 54 states and territories by count.
- Industry concentration. Full-Service Restaurants is the most financed business type here (14 loans, 7% of the state). The top three industries together are 15%.
- Lender concentration. Bangor Savings Bank made 14% of the state's acquisition loans. No single lender dominates, so there are several lenders with local acquisition experience.
- Franchise resales. 10% of acquisition loans in Maine involved a franchised brand; the most frequent is Home Instead (2 loans).
Maine acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 10 | $4.5M | $179,500 | |
| FY2019 | 24 | $10.5M | $165,000 | |
| FY2020 | 19 | $6.4M | $186,000 | |
| FY2021 | 23 | $11.6M | $253,700 | |
| FY2022 | 19 | $15.3M | $264,000 | |
| FY2023 | 21 | $10.7M | $250,000 | |
| FY2024 | 33 | $16.8M | $238,000 | |
| FY2025 | 27 | $20.7M | $319,500 | |
| FY2026 | 38 | $31.3M | $486,250 |
How often do these acquisition loans fail?
Of the 76 Maine 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. 49 have already been paid in full.
For comparison, Maine 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.
M&A counsel for SBA and franchise acquisitions. Free consultation.
Top industries in Maine
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 14 | 6.5% | $5.6M | |
| 2 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 11 | 5.1% | $9.4M | |
| 3 | Limited-Service Restaurants | 7 | 3.3% | $2.3M | |
| 4 | Snack and Nonalcoholic Beverage Bars | 7 | 3.3% | $1.2M | |
| 5 | Pet Care (except Veterinary) Services | 6 | 2.8% | $3.1M | |
| 6 | Funeral Homes and Funeral Services | 5 | 2.3% | $5.9M | |
| 7 | Plumbing, Heating, and Air-Conditioning Contractors | 5 | 2.3% | $5.7M | |
| 8 | Fitness and Recreational Sports Centers | 5 | 2.3% | $1.5M | |
| 9 | Gasoline Stations with Convenience Stores | 4 | 1.9% | $4.9M | |
| 10 | All Other Specialty Trade Contractors | 4 | 1.9% | $2.9M |
Purchase agreement, escrow and consents. Free consultation.
Franchise brands bought in Maine
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Home Instead | 2 | 0.9% | $1.7M | |
| 2 | Smartstyle | 2 | 0.9% | $835K | |
| 3 | CertaPro Painters | 2 | 0.9% | $795K | |
| 4 | Ramada | 1 | 0.5% | $5M | |
| 5 | Comfort Keepers | 1 | 0.5% | $2.7M | |
| 6 | Rodeway Inn | 1 | 0.5% | $1.9M | |
| 7 | Carpet One Floor & Home | 1 | 0.5% | $1.8M | |
| 8 | Dairy Queen | 1 | 0.5% | $1M | |
| 9 | Ace Hardware | 1 | 0.5% | $767K | |
| 10 | Firehouse Subs | 1 | 0.5% | $366K | |
| 11 | The UPS Store | 1 | 0.5% | $250K | |
| 12 | Subway | 1 | 0.5% | $211K |
Acquisitions by industry in Maine
The 2 industries with the most acquisition loans in Maine (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.
| Industry | Loans | Median loan | Charge-off |
|---|---|---|---|
| Full-Service Restaurants | 14 | $237,500 | n/a |
| Supermarkets and Other Grocery Retailers | 11 | $246,000 | n/a |
Questions buyers ask
How much do buyers borrow to buy a business in Maine?
The median SBA 7(a) acquisition loan in Maine was $250,000 across 214 loans (FY2018 to FY2026), 61% lower than the $645,250 national median. The middle half of loans ran from $106,250 to $762,375. 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 Maine?
Bangor Savings Bank (31), Maine Community Bank (29), Machias Savings Bank (21), Live Oak Banking Company (16), Norway Savings Bank (16). Bangor Savings Bank alone accounts for 14% of Maine acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Maine?
Full-Service Restaurants (14), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (11), Limited-Service Restaurants (7), Snack and Nonalcoholic Beverage Bars (7), Pet Care (except Veterinary) Services (6). The top three industries make up 15% of the state's acquisition loans.
How often do SBA acquisition loans fail in Maine?
In the seasoned cohort (FY2018 to FY2021), among 76 Maine acquisition loans: none charged off, against the 3.5% national acquisition average.
How does Maine compare with other states?
Maine ranks number 40 of 54 states and territories by acquisition loan count, with 0.4% of national volume (214 of 48,902 loans) and $128M approved. Browse the full state ranking.
SBA 7(a) acquisitions, nationwide. Free consultation.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- Full-Service Restaurants nationally
- Supermarkets and Other Grocery Retailers (except Convenience Retailers) nationally
- Limited-Service Restaurants nationally
- Bangor Savings Bank
- Maine Community Bank
- Live Oak Banking Company
- 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.