SBA loans in Utah: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 708 7(a) loans to buy an existing business in Utah, totaling $752M. The median loan was $617,950, in line with the $645,250 national median for SBA-financed acquisitions. Volume rose 44% from FY2024 to FY2026.
SBA acquisition counsel, nationwide. Free consultation.
SBA lenders in Utah
The lenders that made the most SBA 7(a) acquisition loans in Utah, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Zions Bancorporation, National Association | 77 | 10.9% | $47.6M | |
| 2 | Live Oak Banking Company | 71 | 10.0% | $101M | |
| 3 | Central Bank | 41 | 5.8% | $19.4M | |
| 4 | Celtic Bank Corporation | 36 | 5.1% | $29M | |
| 5 | Community Banks of Colorado, A Division of NBH Bank | 34 | 4.8% | $51.2M | |
| 6 | Northwest Bank | 27 | 3.8% | $31.1M | |
| 7 | America First Federal Credit Union | 26 | 3.7% | $31.8M | |
| 8 | First Utah Bank | 23 | 3.2% | $40.9M | |
| 9 | Byline Bank | 22 | 3.1% | $27.2M | |
| 10 | The Huntington National Bank | 22 | 3.1% | $18.6M |
What this tells a buyer
- Deal size band. Half of Utah acquisition loans fell between $254,850 and $1,435,425. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Utah accounts for 1.4% of all SBA acquisition loans and ranks number 21 of 54 states and territories by count.
- Industry concentration. Landscaping Services is the most financed business type here (27 loans, 4% of the state). The top three industries together are 10%.
- Lender concentration. Zions Bancorporation, National Association made 11% of the state's acquisition loans. No single lender dominates, so there are several lenders with local acquisition experience.
- Franchise resales. 17% of acquisition loans in Utah involved a franchised brand; the most frequent is Big O Tires (8 loans).
Utah acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 52 | $40M | $594,850 | |
| FY2019 | 64 | $43.3M | $451,500 | |
| FY2020 | 69 | $76.1M | $704,000 | |
| FY2021 | 84 | $102M | $723,300 | |
| FY2022 | 54 | $60.5M | $552,500 | |
| FY2023 | 76 | $78.9M | $660,950 | |
| FY2024 | 87 | $91.3M | $650,000 | |
| FY2025 | 97 | $115M | $603,000 | |
| FY2026 | 125 | $145M | $675,000 |
How often do these acquisition loans fail?
Of the 269 Utah acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 13 have been charged off by the SBA, a rate of 4.8% by loan count and 3.0% by dollars. 155 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 Utah is 37% 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.
M&A counsel for SBA and franchise acquisitions. Free consultation.
Top industries in Utah
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Landscaping Services | 27 | 3.8% | $22M | |
| 2 | Limited-Service Restaurants | 27 | 3.8% | $14.3M | |
| 3 | Gasoline Stations with Convenience Stores | 18 | 2.5% | $23.7M | |
| 4 | Full-Service Restaurants | 18 | 2.5% | $14.6M | |
| 5 | All Other Specialty Trade Contractors | 17 | 2.4% | $21M | |
| 6 | Snack and Nonalcoholic Beverage Bars | 16 | 2.3% | $8.9M | |
| 7 | Hotels (except Casino Hotels) and Motels | 15 | 2.1% | $42.7M | |
| 8 | General Automotive Repair | 12 | 1.7% | $8.2M | |
| 9 | Janitorial Services | 12 | 1.7% | $6.7M | |
| 10 | Electrical Contractors and Other Wiring Installation Contractors | 10 | 1.4% | $15.5M |
Purchase agreement, escrow and consents. Free consultation.
Franchise brands bought in Utah
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Big O Tires | 8 | 1.1% | $13.6M | |
| 2 | Jackson Food Stores | 4 | 0.6% | $8.7M | |
| 3 | Bee Hive Homes | 4 | 0.6% | $6.8M | |
| 4 | Great Harvest | 4 | 0.6% | $721K | |
| 5 | Pirtek | 3 | 0.4% | $5.6M | |
| 6 | Papa Murphy's Take 'N' Bake Pizza | 3 | 0.4% | $2.1M | |
| 7 | Subway | 3 | 0.4% | $963K | |
| 8 | Tropical Smoothie Cafe | 3 | 0.4% | $899K | |
| 9 | Hampton Inn | 2 | 0.3% | $9.8M | |
| 10 | Best Western | 2 | 0.3% | $5.8M | |
| 11 | Crumbl | 2 | 0.3% | $3.7M | |
| 12 | Home Instead | 2 | 0.3% | $1.5M | |
| 13 | Merry Maids | 2 | 0.3% | $1.1M | |
| 14 | Firehouse Subs | 2 | 0.3% | $574K | |
| 15 | Miracle Method Surface Refinishing | 2 | 0.3% | $498K |
Acquisitions by industry in Utah
The 13 industries with the most acquisition loans in Utah (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.
| Industry | Loans | Median loan | Charge-off |
|---|---|---|---|
| Limited-Service Restaurants | 27 | $303,200 | n/a |
| Landscaping Services | 27 | $528,500 | n/a |
| Gasoline Stations with Convenience Stores | 18 | $1,128,750 | n/a |
| Full-Service Restaurants | 18 | $660,000 | n/a |
| All Other Specialty Trade Contractors | 17 | $655,000 | n/a |
| Snack and Nonalcoholic Beverage Bars | 16 | $411,000 | n/a |
| Hotels and Motels | 15 | $2,633,500 | n/a |
| General Automotive Repair | 12 | $337,100 | n/a |
| Janitorial Services | 12 | $431,000 | n/a |
| Electrical Contractors and Other Wiring Installation Contractors | 10 | $1,075,350 | n/a |
| Insurance Agencies and Brokerages | 10 | $963,750 | n/a |
| Fitness and Recreational Sports Centers | 10 | $452,500 | n/a |
| Plumbing, Heating, and Air-Conditioning Contractors | 10 | $804,300 | n/a |
Questions buyers ask
How much do buyers borrow to buy a business in Utah?
The median SBA 7(a) acquisition loan in Utah was $617,950 across 708 loans (FY2018 to FY2026), in line with the $645,250 national median. The middle half of loans ran from $254,850 to $1,435,425. 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 Utah?
Zions Bancorporation, National Association (77), Live Oak Banking Company (71), Central Bank (41), Celtic Bank Corporation (36), Community Banks of Colorado, A Division of NBH Bank (34). Zions Bancorporation, National Association alone accounts for 11% of Utah acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Utah?
Landscaping Services (27), Limited-Service Restaurants (27), Gasoline Stations with Convenience Stores (18), Full-Service Restaurants (18), All Other Specialty Trade Contractors (17). The top three industries make up 10% of the state's acquisition loans.
How often do SBA acquisition loans fail in Utah?
In the seasoned cohort (FY2018 to FY2021), among 269 Utah acquisition loans: 4.8% charged off, 37% higher than the 3.5% national acquisition average.
How does Utah compare with other states?
Utah ranks number 21 of 54 states and territories by acquisition loan count, with 1.4% of national volume (708 of 48,902 loans) and $752M 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
- Landscaping Services nationally
- Limited-Service Restaurants nationally
- Gasoline Stations with Convenience Stores nationally
- Zions Bancorporation, National Association
- Live Oak Banking Company
- Central 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.