LMMMAlower middle market M&AFY2026 Q3 report

Reports

Quarterly reports

One report per fiscal quarter, counted from the SBA 7(a) loan-level record: how many businesses changed hands with bank financing, what the loans cost, which sectors and states they were in, and which lenders wrote them.

Published
ReportPeriodApprovalsLoan capitalMedian loanMedian rate
FY2026 Q3April to June 20261,716$2.0bn$706,8008.75%

The current report covers April to June 2026. Approvals were down 2.6% against the same quarter a year earlier. Read it.

A note on the calendar. These are SBA fiscal quarters. The federal fiscal year opens on 1 October, so fiscal Q3 covers April to June. Every report states its own months in the first line for exactly this reason.