PA · 1,442 financed acquisitions
$1.4bnCapital deployed
Business acquisitions in Pennsylvania
1,442 businesses in Pennsylvania changed hands with SBA 7(a) acquisition financing since FY2019, carrying $1.4bn of bank debt between them. The median deal was financed with $550,000 over 10 years at 8.00%.
Volume and price
What businesses in Pennsylvania 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 = 1,442 financed acquisitions.
| Size band | Acquisitions | Share |
|---|---|---|
| Under $250k | 363 | 25.2% |
| $250k to $500k | 295 | 20.5% |
| $500k to $1M | 347 | 24.1% |
| $1M to $2M | 232 | 16.1% |
| $2M to $3.5M | 131 | 9.1% |
| $3.5M to $5M | 51 | 3.5% |
| $5M and above | 23 | 1.6% |
| All | 1,442 | 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 | 114 | 7.9% |
| Exactly 10 years | The standard goodwill-only note | 887 | 61.5% |
| 10 to 20 years | Mixed collateral | 164 | 11.4% |
| 20 years and over | Real property financed with the business | 277 | 19.2% |
61.5% of loans here run exactly ten years and 19.2% run twenty years or more. n = 1,442 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 Pennsylvania
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 |
|---|---|---|---|---|---|---|
| 72 Accommodation and Food Services | 290 | $291M | $462,450 | 8.00% | 10 years | 8.8% |
| 44-45 Retail Trade | 224 | $184M | $529,700 | 7.75% | 10 years | 9.7% |
| 81 Other Services (except Public Administration) | 183 | $145M | $540,000 | 7.75% | 10 years | 5.2% |
| 23 Construction | 123 | $156M | $625,000 | 8.25% | 10 years | 7.5% |
| 31-33 Manufacturing | 112 | $149M | $748,900 | 7.99% | 10 years | 11.1% |
| 62 Health Care and Social Assistance | 105 | $96.0M | $500,000 | 7.50% | 10 years | 8.7% |
| 54 Professional, Scientific, and Technical Services | 94 | $82.2M | $656,150 | 7.62% | 10 years | 8.7% |
| 56 Administrative and Support and Waste Management and Remediation Services | 85 | $59.3M | $365,000 | 8.25% | 10 years | 8.6% |
| 42 Wholesale Trade | 67 | $78.7M | $783,000 | 8.25% | 10 years | 5.6% |
| 48-49 Transportation and Warehousing | 44 | $45.9M | $753,500 | 7.88% | 10 years | 8.3% |
| 71 Arts, Entertainment, and Recreation | 30 | $26.0M | $425,000 | 8.40% | 10 years | 11.8% |
Counties in Pennsylvania
Counties with at least 30 financed acquisitions.
| County | Acquisitions | Capital | Median loan | Median rate | Median term | Cancelled |
|---|---|---|---|---|---|---|
| Allegheny | 168 | $157M | $550,600 | 7.75% | 10 years | 7.7% |
| Montgomery | 136 | $144M | $604,750 | 7.75% | 10 years | 4.9% |
| Philadelphia | 96 | $79.9M | $510,200 | 8.88% | 10 years | 9.4% |
| Bucks | 86 | $93.6M | $706,500 | 8.25% | 10 years | 9.5% |
| Chester | 80 | $91.7M | $795,000 | 8.25% | 10 years | 8.0% |
| Lancaster | 79 | $81.8M | $500,000 | 7.50% | 10 years | 4.8% |
| Berks | 76 | $81.7M | $500,000 | 7.75% | 10 years | 9.5% |
| Delaware | 65 | $64.8M | $729,200 | 8.00% | 10 years | 12.2% |
| York | 50 | $51.7M | $699,500 | 7.50% | 10 years | 16.7% |
| Westmoreland | 47 | $40.9M | $650,900 | 8.00% | 10 years | 7.8% |
| Erie | 46 | $29.7M | $248,000 | 6.50% | 10 years | 4.2% |
| Lackawanna | 41 | $32.1M | $334,000 | 7.50% | 10 years | 0.0% |
| Luzerne | 40 | $38.9M | $505,000 | 7.75% | 10 years | 4.8% |
| Dauphin | 39 | $44.7M | $650,000 | 7.50% | 10 years | 2.5% |
| Northampton | 36 | $32.7M | $649,000 | 8.00% | 10 years | 10.0% |
| Butler | 33 | $25.6M | $471,500 | 8.25% | 10 years | 15.4% |
Who lends here
| Lender | Acquisitions | Share |
|---|---|---|
| Live Oak Banking Company | 115 | 8.0% |
| Northwest Bank | 98 | 6.8% |
| The Huntington National Bank | 91 | 6.3% |
| Beacon Bank and Trust | 85 | 5.9% |
| First Commonwealth Bank | 77 | 5.3% |
| Wilmington Savings Fund Society | 63 | 4.4% |
| Manufacturers and Traders Trust Company | 59 | 4.1% |
| First National Bank of Pennsylvania | 43 | 3.0% |
| Meridian Bank | 38 | 2.6% |
| PNC Bank | 37 | 2.6% |
| Industry group | Acquisitions | Share |
|---|---|---|
| 7225 Restaurants and Other Eating Places | 199 | 13.8% |
| 2382 Building Equipment Contractors | 55 | 3.8% |
| 7211 Traveler Accommodation | 54 | 3.7% |
| 8111 Automotive Repair and Maintenance | 54 | 3.7% |
| 5617 Services to Buildings and Dwellings | 47 | 3.3% |
| 4453 Beer, Wine, and Liquor Retailers | 47 | 3.3% |
| 8121 Personal Care Services | 43 | 3.0% |
| 2389 Other Specialty Trade Contractors | 32 | 2.2% |
| 6213 Offices of Other Health Practitioners | 28 | 1.9% |
| 5412 Accounting, Tax Preparation, Bookkeeping, and Payroll Services | 28 | 1.9% |
Elsewhere
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