Limited-Service Restaurants acquisitions in Pennsylvania: SBA loan data
Since FY2018, SBA lenders have approved 98 7(a) loans to buy an existing business classified as Limited-Service Restaurants in Pennsylvania, totaling $40.1M. The median loan was $255,750. That is 5.6% of the 1,765 acquisition loans in Pennsylvania.
Terms signed in the LOI shape the purchase agreement that follows.
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How Limited-Service Restaurants in Pennsylvania compares
| Measure | Limited-Service Restaurants in... | Pennsylvania, all industries | Limited-Service Restaurants, nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $255,750 | $535,000 | $350,000 | $645,250 |
| Middle half of loans | $150,000 to $482,250 | $229,000 to $1,282,000 | $202,500 to $693,375 | $283,000 to $1,465,000 |
| Average initial rate | 7.47% | 7.94% | 7.83% | 7.76% |
| Median term | 10 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 12.5% | 2.1% | 5.3% | 3.5% |
| Loans in sample | 98 | 1,765 | 2,222 | 48,902 |
The median for loans to buy fast-food restaurants in Pennsylvania is $255,750, well below the $535,000 median for all Pennsylvania acquisitions, below the $350,000 median for Limited-Service Restaurants acquisitions nationwide and well below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $150,000 to $482,250, 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 7.47%, below the 7.76% national average.
Seasoned loans were charged off at 12.5%, well above the 2.1% rate for all Pennsylvania acquisitions, well above the 5.3% rate for Limited-Service Restaurants acquisitions nationwide and well above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Limited-Service Restaurants in... | All acquisitions |
|---|---|---|
| Under $350K | 63% | 30% |
| $350K to under $1M | 29% | 33% |
| $1M to under $2M | 6% | 19% |
| $2M and over | 2% | 17% |
Most loans to buy fast-food restaurants in Pennsylvania (92%) were under $1M, and the largest single band is Under $350K at 63%, against 30% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Northwest Bank made 15% of loans to buy fast-food restaurants in Pennsylvania, and the top three lenders together made 31%. 13 of the 40 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, 20 loans to buy fast-food restaurants in Pennsylvania were approved. That is 33% more than the 15 approved in FY2023 and FY2024. The median was $304,700, above the $255,750 median across all years.
Limited-Service Restaurants acquisition loans in Pennsylvania by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 11 | $2.2M | $175,000 | |
| FY2019 | 15 | $4.2M | $225,000 | |
| FY2020 | 12 | $5.1M | $237,500 | |
| FY2021 | 18 | $10M | $454,500 | |
| FY2022 | 7 | $1.5M | $198,500 | |
| FY2023 | 8 | $2.1M | $226,000 | |
| FY2024 | 7 | $3.3M | $315,000 | |
| FY2025 | 10 | $4.5M | $279,700 | |
| FY2026 | 10 | $7.2M | $320,000 |
How often do these acquisition loans fail?
Of the 56 Limited-Service Restaurants in Pennsylvania acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 7 have been charged off by the SBA, a rate of 12.5% by loan count and 9.5% by dollars. 26 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 Pennsylvania is 255% 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.
The purchase agreement decides what you bought, not the loan approval.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Northwest Bank | 15 | 15.3% | $3.1M | |
| 2 | The Huntington National Bank | 10 | 10.2% | $6.4M | |
| 3 | PNC Bank, National Association | 5 | 5.1% | $2.5M | |
| 4 | Wilmington Savings Fund Society FSB | 5 | 5.1% | $2.4M | |
| 5 | Stearns Bank National Association | 4 | 4.1% | $825K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Subway | 12 | 12.2% | $2.8M | |
| 2 | Domino's Pizza | 5 | 5.1% | $3.7M | |
| 3 | Wayback Burgers | 5 | 5.1% | $620K | |
| 4 | Little Caesars | 4 | 4.1% | $2.7M | |
| 5 | Dairy Queen | 3 | 3.1% | $1.6M |
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do SBA loans for Limited-Service Restaurants acquisitions in Pennsylvania run?
The median SBA 7(a) loan was $255,750 across 98 loans (FY2018 to FY2026), with the middle half between $150,000 and $482,250. 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 Pennsylvania?
Northwest Bank (15), The Huntington National Bank (10), PNC Bank, National Association (5), Wilmington Savings Fund Society FSB (5), Stearns Bank National Association (4). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Limited-Service Restaurants acquisition loans fail in Pennsylvania?
12.5% of 56 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 Pennsylvania?
41 of the 98 loans (42%) involved a franchise brand, most often Subway (12).
How much do you need down for an SBA loan to buy a fast-food restaurant in Pennsylvania?
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 Pennsylvania was $255,750, and the middle half ran $150,000 to $482,250.
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 20 loans to buy fast-food restaurants in Pennsylvania in FY2025 and FY2026.
Which banks make SBA loans for a fast-food restaurant in Pennsylvania?
By loan count, FY2018 to FY2026: Northwest Bank (15), The Huntington National Bank (10), PNC Bank, National Association (5), Wilmington Savings Fund Society FSB (5), Stearns Bank National Association (4). Northwest Bank made 15% of loans to buy fast-food restaurants in Pennsylvania. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Related
- All Pennsylvania acquisitions
- 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 Michigan
- Limited-Service Restaurants in Illinois
- Limited-Service Restaurants in Florida
- Limited-Service Restaurants in Ohio
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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, "Limited-Service Restaurants in Pennsylvania: SBA acquisition loan data", https://sbaacquisitiondata.com/state/pa/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/pa/limited-service-restaurants-722513.json.