Limited-Service Restaurants acquisitions in North Carolina: SBA loan data
Since FY2018, SBA lenders have approved 56 7(a) loans to buy an existing business classified as Limited-Service Restaurants in North Carolina, totaling $48.3M. The median loan was $434,500. That is 3.6% of the 1,575 acquisition loans in North Carolina.
- Loans, FY2018-FY2026
- 56
- Median loan
- $434,500 (middle half $218,750 to $716,675)
- Top lender
- Live Oak Banking Company (14%, 8 loans)
- Charge-off, FY2018-FY2021 loans
- 4.0% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 6
SBA lenders approved 56 7(a) loans to buy a business classified as Limited-Service Restaurants in North Carolina from FY2018-FY2026, with a median of $434,500 and a middle half of $218,750 to $716,675. Live Oak Banking Company made 14% of them. FY2026 had 6 loans.
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How Limited-Service Restaurants in North Carolina compares
| Measure | Limited-Service Restaurants in... | North Carolina, all industries | Limited-Service Restaurants, nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $434,500 | $800,000 | $350,000 | $645,250 |
| Middle half of loans | $218,750 to $716,675 | $350,000 to $1,800,000 | $202,500 to $693,375 | $283,000 to $1,465,000 |
| Average initial rate | 8.25% | 7.92% | 7.83% | 7.76% |
| Median term | 10 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 4.0% | 2.1% | 5.3% | 3.5% |
| Loans in sample | 56 | 1,575 | 2,222 | 48,902 |
The median for loans to buy fast-food restaurants in North Carolina is $434,500, well below the $800,000 median for all North Carolina acquisitions, above the $350,000 median for Limited-Service Restaurants acquisitions nationwide and below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $218,750 to $716,675, 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 8.25%, above the 7.76% national average.
Seasoned loans were charged off at 4.0%, well above the 2.1% rate for all North Carolina acquisitions, below the 5.3% rate for Limited-Service Restaurants acquisitions nationwide and above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Limited-Service Restaurants in... | All acquisitions |
|---|---|---|
| Under $350K | 43% | 30% |
| $350K to under $1M | 41% | 33% |
| $1M to under $2M | 5% | 19% |
| $2M and over | 11% | 17% |
Most loans to buy fast-food restaurants in North Carolina (84%) were under $1M, and the largest single band is Under $350K at 43%, against 30% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Live Oak Banking Company made 14% of loans to buy fast-food restaurants in North Carolina, and the top three lenders together made 30%. 6 of the 29 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, 15 loans to buy fast-food restaurants in North Carolina were approved. That is 25% more than the 12 approved in FY2023 and FY2024. The median was $460,000, slightly above the $434,500 median across all years.
Limited-Service Restaurants acquisition loans in North Carolina by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 9 | $2.3M | $144,000 | |
| FY2019 | 5 | $2M | $363,000 | |
| FY2020 | 6 | $2.6M | $342,500 | |
| FY2021 | 5 | $5.7M | $567,000 | |
| FY2022 | 4 | $6.2M | $474,500 | |
| FY2023 | 4 | $1.5M | $310,000 | |
| FY2024 | 8 | $6.1M | $708,000 | |
| FY2025 | 9 | $12.3M | $345,000 | |
| FY2026 | 6 | $9.6M | $556,700 |
How often do these acquisition loans fail?
Of the 25 Limited-Service Restaurants in North Carolina 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 4.0% by loan count and 0.8% by dollars. 19 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 Limited-Service Restaurants in North Carolina is 14% 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 | Live Oak Banking Company | 8 | 14.3% | $23M | |
| 2 | The Fidelity Bank | 5 | 8.9% | $4.9M | |
| 3 | Stearns Bank National Association | 4 | 7.1% | $792K | |
| 4 | United Community Bank | 3 | 5.4% | $5.4M | |
| 5 | SouthState Bank, National Association | 3 | 5.4% | $940K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Domino's Pizza | 5 | 8.9% | $11M | |
| 2 | Jimmy John's | 4 | 7.1% | $5.1M | |
| 3 | Subway | 4 | 7.1% | $832K | |
| 4 | Dairy Queen | 2 | 3.6% | $725K | |
| 5 | Firehouse Subs | 2 | 3.6% | $666K |
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Questions buyers ask
How much do SBA loans for Limited-Service Restaurants acquisitions in North Carolina run?
The median SBA 7(a) loan was $434,500 across 56 loans (FY2018 to FY2026), with the middle half between $218,750 and $716,675. 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 Limited-Service Restaurants acquisitions in North Carolina?
Live Oak Banking Company (8), The Fidelity Bank (5), Stearns Bank National Association (4), United Community Bank (3), SouthState Bank, National Association (3). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Limited-Service Restaurants acquisition loans fail in North Carolina?
4.0% of 25 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 Limited-Service Restaurants acquisitions in North Carolina?
30 of the 56 loans (54%) involved a franchise brand, most often Domino's Pizza (5).
How much do you need down for an SBA loan to buy a fast-food restaurant in North Carolina?
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 fast-food restaurants in North Carolina was $434,500, and the middle half ran $218,750 to $716,675.
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 15 loans to buy fast-food restaurants in North Carolina in FY2025 and FY2026.
Which banks make SBA loans for a fast-food restaurant in North Carolina?
By loan count, FY2018 to FY2026: Live Oak Banking Company (8), The Fidelity Bank (5), Stearns Bank National Association (4), United Community Bank (3), SouthState Bank, National Association (3). Live Oak Banking Company made 14% of loans to buy fast-food restaurants in North Carolina. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Related
- All North Carolina acquisitions
- Financing one? How to get an SBA loan to buy a fast food restaurant
- Limited-Service Restaurants nationally
- Limited-Service Restaurants in California
- Limited-Service Restaurants in Washington
- Limited-Service Restaurants in Texas
- Limited-Service Restaurants in Georgia
- Limited-Service Restaurants in Pennsylvania
- Limited-Service Restaurants in Michigan
- Limited-Service Restaurants in Illinois
- Limited-Service Restaurants in Florida
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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, "Limited-Service Restaurants in North Carolina: SBA acquisition loan data", https://sbaacquisitiondata.com/state/nc/limited-service-restaurants-722513 (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/nc/limited-service-restaurants-722513.json.