SBA loans in Ohio: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 1,821 7(a) loans to buy an existing business in Ohio, totaling $1.9B. The median loan was $549,000, 15% lower than the $645,250 national median for SBA-financed acquisitions.
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SBA lenders in Ohio
The lenders that made the most SBA 7(a) acquisition loans in Ohio, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 603 | 33.1% | $428M | |
| 2 | Live Oak Banking Company | 132 | 7.2% | $168M | |
| 3 | United Midwest Savings Bank National Association | 68 | 3.7% | $97M | |
| 4 | First Commonwealth Bank | 66 | 3.6% | $58.5M | |
| 5 | First Financial Bank | 51 | 2.8% | $43.4M | |
| 6 | Fifth Third Bank | 51 | 2.8% | $32.2M | |
| 7 | GBank | 50 | 2.7% | $153M | |
| 8 | WesBanco Bank, Inc. | 46 | 2.5% | $46.2M | |
| 9 | KeyBank National Association | 30 | 1.6% | $38.1M | |
| 10 | First Western SBLC, LLC d/b/a Peachtree Group | 29 | 1.6% | $75.1M |
What this tells a buyer
- Deal size band. Half of Ohio acquisition loans fell between $225,000 and $1,403,200. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Ohio accounts for 3.7% of all SBA acquisition loans and ranks number 6 of 54 states and territories by count.
- Industry concentration. Hotels (except Casino Hotels) and Motels is the most financed business type here (145 loans, 8% of the state). The top three industries together are 17%.
- Lender concentration. The Huntington National Bank made 33% of the state's acquisition loans. A single lender carries a large part of the market, so it is worth knowing what it prefers to finance.
- Franchise resales. 22% of acquisition loans in Ohio involved a franchised brand; the most frequent is The UPS Store (20 loans).
Ohio acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 137 | $116M | $427,400 | |
| FY2019 | 226 | $201M | $497,300 | |
| FY2020 | 173 | $170M | $596,000 | |
| FY2021 | 199 | $180M | $532,000 | |
| FY2022 | 150 | $194M | $865,450 | |
| FY2023 | 146 | $169M | $642,500 | |
| FY2024 | 241 | $216M | $500,000 | |
| FY2025 | 276 | $332M | $640,000 | |
| FY2026 | 273 | $314M | $540,000 |
How often do these acquisition loans fail?
Of the 734 Ohio 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 1.9% by loan count and 0.6% by dollars. 421 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 Ohio is 46% lower 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 Ohio
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 145 | 8.0% | $427M | |
| 2 | Limited-Service Restaurants | 81 | 4.4% | $46.9M | |
| 3 | Full-Service Restaurants | 79 | 4.3% | $37.6M | |
| 4 | Offices of Dentists | 48 | 2.6% | $64.7M | |
| 5 | Plumbing, Heating, and Air-Conditioning Contractors | 33 | 1.8% | $28.7M | |
| 6 | Offices of Certified Public Accountants | 31 | 1.7% | $30.3M | |
| 7 | Child Care Services | 29 | 1.6% | $26.3M | |
| 8 | General Automotive Repair | 29 | 1.6% | $15.3M | |
| 9 | Home Health Care Services | 28 | 1.5% | $37.5M | |
| 10 | All Other Specialty Trade Contractors | 25 | 1.4% | $31.6M |
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Franchise brands bought in Ohio
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 20 | 1.1% | $7.4M | |
| 2 | Subway | 19 | 1.0% | $7.9M | |
| 3 | Days Inn | 13 | 0.7% | $31.6M | |
| 4 | Quality Inn | 12 | 0.7% | $34.5M | |
| 5 | Red Roof Inn | 9 | 0.5% | $25.6M | |
| 6 | Motel 6 | 9 | 0.5% | $21.2M | |
| 7 | Comfort Inn | 8 | 0.4% | $26.6M | |
| 8 | Visiting Angels | 8 | 0.4% | $5.7M | |
| 9 | Super 8 | 7 | 0.4% | $12.7M | |
| 10 | Ace Hardware | 7 | 0.4% | $5.5M | |
| 11 | Domino's Pizza | 7 | 0.4% | $4.1M | |
| 12 | Cold Stone Creamery | 7 | 0.4% | $958K | |
| 13 | Baymont | 6 | 0.3% | $14.2M | |
| 14 | Beck Suppliers Inc | 6 | 0.3% | $7.2M | |
| 15 | Play It Again Sports | 6 | 0.3% | $2M |
Acquisitions by industry in Ohio
The 20 industries with the most acquisition loans in Ohio (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.
| Industry | Loans | Median loan | Charge-off |
|---|---|---|---|
| Hotels and Motels | 145 | $2,800,000 | 0.0% |
| Limited-Service Restaurants | 81 | $325,000 | 4.5% |
| Full-Service Restaurants | 79 | $357,000 | 2.6% |
| Offices of Dentists | 48 | $1,077,500 | 0.0% |
| Plumbing, Heating, and Air-Conditioning Contractors | 33 | $471,000 | n/a |
| Offices of Certified Public Accountants | 31 | $581,000 | n/a |
| Child Care Services | 29 | $856,000 | n/a |
| General Automotive Repair | 29 | $278,800 | n/a |
| Home Health Care Services | 28 | $987,900 | n/a |
| All Other Specialty Trade Contractors | 25 | $890,000 | n/a |
| Landscaping Services | 24 | $324,000 | n/a |
| Beauty Salons | 23 | $147,000 | n/a |
| Pharmacies and Drug Retailers | 22 | $1,187,500 | n/a |
| Gasoline Stations with Convenience Stores | 21 | $1,203,000 | n/a |
| Supermarkets and Other Grocery Retailers | 21 | $494,000 | n/a |
| Offices of Chiropractors | 21 | $283,500 | n/a |
| Commercial Printing | 20 | $382,300 | n/a |
| Insurance Agencies and Brokerages | 20 | $414,250 | n/a |
| Funeral Homes and Funeral Services | 20 | $1,063,250 | n/a |
| Janitorial Services | 19 | $400,000 | n/a |
Questions buyers ask
How much do buyers borrow to buy a business in Ohio?
The median SBA 7(a) acquisition loan in Ohio was $549,000 across 1,821 loans (FY2018 to FY2026), 15% lower than the $645,250 national median. The middle half of loans ran from $225,000 to $1,403,200. 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 Ohio?
The Huntington National Bank (603), Live Oak Banking Company (132), United Midwest Savings Bank National Association (68), First Commonwealth Bank (66), First Financial Bank (51). The Huntington National Bank alone accounts for 33% of Ohio acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Ohio?
Hotels (except Casino Hotels) and Motels (145), Limited-Service Restaurants (81), Full-Service Restaurants (79), Offices of Dentists (48), Plumbing, Heating, and Air-Conditioning Contractors (33). The top three industries make up 17% of the state's acquisition loans.
How often do SBA acquisition loans fail in Ohio?
In the seasoned cohort (FY2018 to FY2021), among 734 Ohio acquisition loans: 1.9% charged off, 46% lower than the 3.5% national acquisition average.
How does Ohio compare with other states?
Ohio ranks number 6 of 54 states and territories by acquisition loan count, with 3.7% of national volume (1,821 of 48,902 loans) and $1.9B approved. Browse the full state ranking.
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Related
- Hotels (except Casino Hotels) and Motels nationally
- Limited-Service Restaurants nationally
- Full-Service Restaurants nationally
- The Huntington National Bank
- Live Oak Banking Company
- United Midwest Savings Bank National Association
- 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.