MA · 783 financed acquisitions
$659MCapital deployed
Business acquisitions in Massachusetts
783 businesses in Massachusetts changed hands with SBA 7(a) acquisition financing since FY2019, carrying $659M of bank debt between them. The median deal was financed with $448,000 over 10 years at 7.25%.
Volume and price
What businesses in Massachusetts financed by an SBA 7(a) acquisition loan actually cost, and how many of them there were.
Source: SBA 7(a) FOIA loan-level extract, change-of-ownership approvals, FY2019 onward. Data as of 30 June 2026. n = 783 financed acquisitions.
| Size band | Acquisitions | Share |
|---|---|---|
| Under $250k | 244 | 31.2% |
| $250k to $500k | 177 | 22.6% |
| $500k to $1M | 148 | 18.9% |
| $1M to $2M | 132 | 16.9% |
| $2M to $3.5M | 51 | 6.5% |
| $3.5M to $5M | 21 | 2.7% |
| $5M and above | 10 | 1.3% |
| All | 783 | 100.0% |
The 7(a) programme caps a single loan at $5M, so the top band is a ceiling of the instrument, not of the market. Deals above it are financed conventionally and do not appear in this file at all.
How the paper was structured
Loan terms here are not spread smoothly. They spike at exactly ten years and again at exactly twenty-five, with very little in between. Those two points are the programme's maturity ceilings, and which one applies depends on what secures the loan, so a term running past ten years indicates real property was financed alongside the business.
| Term | What it indicates | Acquisitions | Share |
|---|---|---|---|
| Under 10 years | Shorter than the goodwill maximum | 193 | 24.6% |
| Exactly 10 years | The standard goodwill-only note | 510 | 65.1% |
| 10 to 20 years | Mixed collateral | 29 | 3.7% |
| 20 years and over | Real property financed with the business | 51 | 6.5% |
65.1% of loans here run exactly ten years and 6.5% run twenty years or more. n = 783 loans with a recorded term.
What happened next
Two outcomes are visible in the file: approvals that never funded, and funded loans that later charged off. Both are facts about deals, not forecasts.
The charge-off share is cumulative as of 30 June 2026 for loans approved in FY2019-FY2021. Those loans are five to seven years into terms that are usually ten years, so the figure is a floor and the lifetime rate will be higher. It is not comparable to a rate computed over a fully matured cohort, and the site does not publish one for later years for that reason.
By fiscal year
* FY2026 is incomplete. The extract closes 30 June 2026, nine months into a fiscal year that ends 30 September, and some FY2026 approvals have not yet disbursed. Do not read the last column as a decline.
Sectors in Massachusetts
Sectors with enough local volume to report on their own. Each has its own page combining this state with that sector.
| Sector | Acquisitions | Capital | Median loan | Median rate | Median term | Cancelled |
|---|---|---|---|---|---|---|
| 44-45 Retail Trade | 142 | $96.7M | $422,250 | 6.75% | 10 years | 9.6% |
| 81 Other Services (except Public Administration) | 106 | $72.6M | $365,000 | 7.00% | 10 years | 8.6% |
| 72 Accommodation and Food Services | 105 | $71.8M | $347,000 | 7.25% | 10 years | 13.2% |
| 54 Professional, Scientific, and Technical Services | 73 | $62.6M | $520,000 | 7.50% | 10 years | 15.1% |
| 62 Health Care and Social Assistance | 67 | $60.4M | $567,400 | 7.75% | 10 years | 10.7% |
| 23 Construction | 64 | $66.6M | $507,500 | 7.75% | 10 years | 3.0% |
| 56 Administrative and Support and Waste Management and Remediation Services | 60 | $54.2M | $357,000 | 8.07% | 10 years | 14.3% |
| 31-33 Manufacturing | 53 | $51.4M | $437,500 | 7.05% | 10 years | 8.6% |
| 48-49 Transportation and Warehousing | 33 | $27.5M | $486,500 | 7.50% | 10 years | 19.5% |
Counties in Massachusetts
Counties with at least 30 financed acquisitions.
| County | Acquisitions | Capital | Median loan | Median rate | Median term | Cancelled |
|---|---|---|---|---|---|---|
| Middlesex | 199 | $161M | $409,500 | 7.00% | 10 years | 12.7% |
| Essex | 105 | $74.3M | $350,000 | 6.95% | 10 years | 7.9% |
| Worcester | 94 | $87.2M | $606,750 | 7.67% | 10 years | 10.5% |
| Norfolk | 91 | $83.8M | $627,000 | 7.50% | 10 years | 13.3% |
| Plymouth | 73 | $57.4M | $429,000 | 7.25% | 10 years | 8.8% |
| Suffolk | 52 | $60.2M | $550,000 | 7.50% | 10 years | 17.5% |
| Barnstable | 46 | $28.7M | $350,000 | 7.50% | 10 years | 6.1% |
| Hampden | 37 | $45.3M | $629,000 | 7.25% | 10 years | 7.5% |
| Bristol | 35 | $26.7M | $270,000 | 6.99% | 10 years | 14.6% |
Who lends here
| Lender | Acquisitions | Share |
|---|---|---|
| Rockland Trust Company | 110 | 14.0% |
| Live Oak Banking Company | 93 | 11.9% |
| Eastern Bank | 49 | 6.3% |
| Webster Bank | 37 | 4.7% |
| Salem Five Cents Savings Bank | 28 | 3.6% |
| Beacon Bank and Trust | 27 | 3.4% |
| Leader Bank | 25 | 3.2% |
| The Huntington National Bank | 21 | 2.7% |
| Northern Bank and Trust Company | 14 | 1.8% |
| Cape and Coast Bank | 14 | 1.8% |
| Industry group | Acquisitions | Share |
|---|---|---|
| 7225 Restaurants and Other Eating Places | 92 | 11.7% |
| 8111 Automotive Repair and Maintenance | 39 | 5.0% |
| 4453 Beer, Wine, and Liquor Retailers | 37 | 4.7% |
| 5617 Services to Buildings and Dwellings | 37 | 4.7% |
| 5412 Accounting, Tax Preparation, Bookkeeping, and Payroll Services | 27 | 3.4% |
| 6216 Home Health Care Services | 22 | 2.8% |
| 8121 Personal Care Services | 21 | 2.7% |
| 2389 Other Specialty Trade Contractors | 21 | 2.7% |
| 2382 Building Equipment Contractors | 18 | 2.3% |
| 4452 Specialty Food Retailers | 17 | 2.2% |
Elsewhere
If you are selling
Thinking about selling
The figures above describe businesses in Massachusetts at the size the 7(a) programme reaches. They describe a market, not your business. FIH advises owners of privately held companies on sale processes, and the first conversation costs nothing and commits you to nothing.
If you are buying
Register what you are looking for
FIH is an advisory firm that generally acts for sellers, so registering here does not make you a client and no business is listed or offered for sale on this site. It records what you buy, where, at what price you can transact and how a purchase would be funded. It is free, it commits you to nothing, and no deal flow is promised in return.
Figures on this page are SBA loan amounts, not sale prices. Nothing on this site is an offer, a solicitation, a valuation of any business, or investment advice, and no statement here promises a transaction, a price or a result.