Official Business Doctor research
SBA 7(a) business acquisition lending tracker
In June 2026, the latest month in SBA's loan-level data, SBA approved 637 7(a) loans for a change of ownership, worth $695,778,100, with a median approval of $675,000 and an average of $1,092,273.31. The tracker updates monthly from SBA's own files and dates each rule change on the same timeline. The newest dated rule: SOP 50 10 version 8.1 replaces version 8, effective October 1, 2026.
By Dr. Matty Herrera, Founder of Official Business Doctor
Published Updated 7 min read
Updated monthly, after SBA publishes. Loan-level data through June 30, 2026; SBA monthly report through August 31, 2026.
Key takeaways
- SBA approved 637 7(a) loans for a change of ownership in June 2026, worth $695,778,100 in total, against 365 in June 2025.
- The median approval in June 2026 was $675,000 and the average $1,092,273.31; across the last 12 published months the monthly median ran from $675,000 to $845,000.
- Changes of ownership were 12.8% of all 7(a) approvals in June 2026.
- July 2026 and August 2026 are not yet in SBA's loan-level file; the tracker adds them when SBA publishes.
- SOP 50 10 version 8.1 replaces version 8 on October 1, 2026, per SBA.
How many SBA 7(a) loans financed a business purchase each month?
SBA approved 637 7(a) loans classified as a change of ownership in June 2026, compared with 365 in June 2025. The table lists every month since October 2019, newest first, with the SBA rule changes shown in the month they took effect. A month SBA has not yet released is marked as such and never estimated.
| Month | Approvals | Approval dollars | Median approval | Average approval | Share of all 7(a) approvals | Later cancelled |
|---|---|---|---|---|---|---|
| August 2026 | Not yet published in SBA's loan-level file. SBA's monthly report counts 4,313 approvals across all 7(a) loans this month. | |||||
| July 2026 | Not yet published in SBA's loan-level file. SBA's monthly report counts 4,704 approvals across all 7(a) loans this month. | |||||
| June 2026 | 637 | $695,778,100 | $675,000 | $1,092,273.31 | 12.8% | 14 |
| May 2026 | 506 | $642,081,000 | $758,750 | $1,268,934.78 | 11.7% | 20 |
| April 2026 | 573 | $668,036,200 | $696,600 | $1,165,857.24 | 11.4% | 32 |
| March 2026Procedural Notice 5000-876626 revises applicant ownership, citizenship and residency requirements, March 1, 2026The 7(a) alternative base rate rule takes effect, March 1, 2026 | 495 | $567,642,300 | $745,500 | $1,146,752.12 | 10.3% | 28 |
| February 2026 | 441 | $524,422,300 | $708,000 | $1,189,166.21 | 9.4% | 51 |
| January 2026 | 967 | $1,144,717,000 | $700,500 | $1,183,781.80 | 14.7% | 112 |
| December 2025 | 615 | $792,434,500 | $845,000 | $1,288,511.38 | 12.0% | 54 |
| November 2025 | 538 | $602,851,500 | $712,000 | $1,120,541.82 | 10.3% | 41 |
| October 2025 | No 7(a) approvals of any kind are dated in this month in SBA's loan-level file, and SBA's monthly report has no row for it. | |||||
| September 2025 | 906 | $1,110,317,800 | $813,750 | $1,225,516.34 | 12.9% | 87 |
| August 2025 | 536 | $653,159,400 | $704,500 | $1,218,580.97 | 10.9% | 47 |
| July 2025 | 559 | $698,691,500 | $825,900 | $1,249,895.35 | 11.5% | 47 |
| June 2025SOP 50 10 version 8 takes effect, June 1, 2025 | 365 | $462,334,900 | $840,000 | $1,266,670.96 | 9.6% | 30 |
| May 2025 | 929 | $1,139,569,200 | $791,000 | $1,226,662.22 | 11.0% | 106 |
| April 2025 | 468 | $545,162,900 | $668,650 | $1,164,877.99 | 7.7% | 39 |
| March 2025 | 864 | $906,121,200 | $597,000 | $1,048,751.39 | 9.8% | 91 |
| February 2025 | 571 | $653,201,200 | $725,400 | $1,143,960.07 | 8.2% | 40 |
| January 2025 | 592 | $697,675,200 | $634,400 | $1,178,505.41 | 8.2% | 51 |
| December 2024 | 746 | $889,635,700 | $685,250 | $1,192,541.15 | 10.5% | 62 |
| November 2024 | 472 | $518,885,100 | $675,000 | $1,099,332.84 | 7.9% | 22 |
| October 2024 | 525 | $544,936,200 | $522,000 | $1,037,973.71 | 7.6% | 43 |
| September 2024 | 706 | $866,542,100 | $810,000 | $1,227,396.74 | 9.6% | 67 |
| August 2024 | 561 | $625,012,300 | $640,400 | $1,114,103.92 | 8.4% | 58 |
| July 2024 | 561 | $603,819,300 | $651,800 | $1,076,326.74 | 8.8% | 45 |
| June 2024 | 512 | $608,199,800 | $656,500 | $1,187,890.23 | 8.7% | 30 |
| May 2024 | 515 | $532,200,400 | $557,400 | $1,033,398.83 | 8.0% | 33 |
| April 2024 | 495 | $572,063,800 | $617,000 | $1,155,684.44 | 8.0% | 39 |
| March 2024 | 531 | $624,208,400 | $750,000 | $1,175,533.71 | 8.3% | 47 |
| February 2024 | 462 | $442,099,200 | $600,000 | $956,924.68 | 9.0% | 35 |
| January 2024 | 444 | $470,558,300 | $596,250 | $1,059,815.99 | 8.4% | 21 |
| December 2023 | 493 | $495,286,400 | $550,000 | $1,004,637.73 | 9.9% | 35 |
| November 2023 | 458 | $541,817,300 | $785,000 | $1,183,007.21 | 8.2% | 61 |
| October 2023 | 316 | $353,109,100 | $673,000 | $1,117,433.86 | 8.0% | 21 |
| September 2023 | 712 | $799,137,700 | $656,500 | $1,122,384.41 | 9.6% | 86 |
| August 2023 | 418 | $402,286,400 | $546,000 | $962,407.66 | 8.7% | 41 |
| July 2023 | 398 | $465,420,300 | $717,500 | $1,169,397.74 | 8.9% | 32 |
| June 2023 | 385 | $425,846,500 | $655,000 | $1,106,094.81 | 8.0% | 30 |
| May 2023 | 390 | $413,581,200 | $599,050 | $1,060,464.62 | 7.8% | 25 |
| April 2023 | 375 | $381,213,300 | $600,000 | $1,016,568.80 | 8.5% | 21 |
| March 2023 | 419 | $433,939,500 | $587,400 | $1,035,655.13 | 7.8% | 24 |
| February 2023 | 344 | $390,295,200 | $675,550 | $1,134,579.07 | 8.5% | 29 |
| January 2023 | 353 | $368,969,400 | $650,000 | $1,045,239.09 | 8.8% | 24 |
| December 2022 | 412 | $464,373,000 | $667,150 | $1,127,118.93 | 9.2% | 28 |
| November 2022 | 440 | $504,521,300 | $725,000 | $1,146,639.32 | 10.2% | 32 |
| October 2022 | 397 | $451,840,600 | $630,000 | $1,138,137.53 | 9.5% | 18 |
| September 2022 | 517 | $656,040,700 | $750,000 | $1,268,937.52 | 10.8% | 49 |
| August 2022 | 434 | $517,923,300 | $722,500 | $1,193,371.66 | 9.3% | 27 |
| July 2022 | 423 | $475,638,200 | $710,000 | $1,124,440.19 | 9.9% | 28 |
| June 2022 | 529 | $615,078,100 | $700,000 | $1,162,718.53 | 10.8% | 35 |
| May 2022 | 455 | $533,805,600 | $740,500 | $1,173,199.12 | 10.1% | 37 |
| April 2022 | 387 | $452,816,200 | $730,000 | $1,170,067.70 | 9.1% | 35 |
| March 2022 | 514 | $597,838,200 | $714,000 | $1,163,109.34 | 11.0% | 37 |
| February 2022 | 365 | $447,571,200 | $687,000 | $1,226,222.47 | 10.7% | 25 |
| January 2022 | 412 | $440,179,300 | $670,500 | $1,068,396.36 | 12.4% | 23 |
| December 2021 | 461 | $554,329,100 | $742,300 | $1,202,449.24 | 12.6% | 36 |
| November 2021 | 291 | $265,578,500 | $515,100 | $912,640.89 | 9.5% | 23 |
| October 2021 | 195 | $174,253,300 | $534,000 | $893,606.67 | 9.0% | 16 |
| September 2021 | 1,051 | $1,336,981,800 | $784,000 | $1,272,104.47 | 12.8% | 159 |
| August 2021 | 834 | $1,072,423,600 | $843,500 | $1,285,879.62 | 12.5% | 102 |
| July 2021 | 758 | $866,807,300 | $720,000 | $1,143,545.25 | 13.3% | 69 |
| June 2021 | 570 | $636,709,300 | $698,500 | $1,117,033.86 | 11.7% | 31 |
| May 2021 | 501 | $551,107,300 | $677,900 | $1,100,014.57 | 12.5% | 16 |
| April 2021 | 519 | $536,801,200 | $600,000 | $1,034,299.04 | 11.7% | 29 |
| March 2021 | 513 | $544,146,600 | $650,500 | $1,060,714.62 | 11.9% | 31 |
| February 2021 | 546 | $618,319,700 | $679,000 | $1,132,453.66 | 14.4% | 33 |
| January 2021 | 137 | $121,409,400 | $477,000 | $886,200 | 11.2% | 10 |
| December 2020 | 544 | $601,569,700 | $698,000 | $1,105,826.65 | 15.4% | 63 |
| November 2020 | 341 | $316,215,000 | $530,000 | $927,316.72 | 13.7% | 14 |
| October 2020 | 305 | $279,230,700 | $588,000 | $915,510.49 | 11.7% | 25 |
| September 2020 | 903 | $1,064,729,200 | $750,000 | $1,179,102.10 | 16.8% | 69 |
| August 2020 | 469 | $505,486,200 | $680,000 | $1,077,795.74 | 14.7% | 29 |
| July 2020 | 369 | $379,836,300 | $627,000 | $1,029,366.67 | 12.7% | 22 |
| June 2020 | 241 | $230,314,800 | $590,000 | $955,663.07 | 10.7% | 18 |
| May 2020 | 205 | $202,740,800 | $576,000 | $988,979.51 | 10.0% | 45 |
| April 2020 | 510 | $572,319,800 | $701,750 | $1,122,195.69 | 11.3% | 122 |
| March 2020 | 416 | $403,092,000 | $563,750 | $968,971.15 | 12.3% | 82 |
| February 2020 | 420 | $433,962,200 | $550,000 | $1,033,243.33 | 12.4% | 50 |
| January 2020 | 467 | $425,637,800 | $516,000 | $911,429.98 | 13.6% | 40 |
| December 2019 | 548 | $499,022,500 | $526,300 | $910,625 | 14.5% | 43 |
| November 2019 | 472 | $462,725,900 | $601,500 | $980,351.48 | 12.0% | 41 |
| October 2019 | 531 | $475,742,200 | $504,000 | $895,936.35 | 13.0% | 45 |
What is the median SBA 7(a) loan for buying a business?
The median SBA 7(a) change-of-ownership approval was $675,000 in June 2026, and the average was $1,092,273.31. Over the last 12 published months the monthly median ranged from $675,000 to $845,000. In every one of those months the median sat below the average, which means a smaller number of large loans pulls the average up.
Neither number is a purchase price. The loan is one part of how a buyer pays for a business, and the figures leave out every purchase made without an SBA loan. To test whether a specific deal can carry its debt, run the numbers in the DSCR check, and read how the SBA equity injection works before you size the loan.
When do the SBA 7(a) rule changes take effect?
SOP 50 10 version 8.1 replaces version 8 on October 1, 2026. Each date below comes from the reviewed claim ledger this site keeps for regulated statements, with the SBA or Federal Register document it rests on.
: SOP 50 10 version 8 takes effect
SBA lists SOP 50 10 version 8.1 as effective October 1, 2026, replacing version 8, effective June 1, 2025. Read the source
Change-of-ownership approvals that month: 365.
: Procedural Notice 5000-876626 revises applicant ownership, citizenship and residency requirements
Procedural Notice 5000-876626 revised applicant ownership, citizenship, and residency requirements effective March 1, 2026. Read the source
Change-of-ownership approvals that month: 495.
: The 7(a) alternative base rate rule takes effect
The alternative base rate rule took effect March 1, 2026. Read the source
Change-of-ownership approvals that month: 495.
: SOP 50 10 version 8.1 replaces version 8
SBA lists SOP 50 10 version 8.1 as effective October 1, 2026, replacing version 8, effective June 1, 2025. Read the source
That month is after the latest SBA data.
The tracker places each rule date next to the approval counts. It does not measure whether a rule changed lending, and a count moving after a rule date is not evidence that the rule moved it. Confirm the requirements that govern a current application with the lender, and read the SBA 7(a) requirements for buying a business.
What does SBA's fiscal-year dashboard show?
SBA's Activity Dashboard reports $7,709,372,500 across 6,627 7(a) change-of-ownership approvals in fiscal 2025, 23.6% of all 7(a) approval dollars that year. The dashboard counts differently from the loan-level file, so its totals are shown here as SBA publishes them and are not added to the monthly table.
7(a) change of ownership
| Period | Approval dollars | Approvals | Share of program dollars | Average approval |
|---|---|---|---|---|
| FY2021 | $6,144,739,800 | 5,568 | 21.0% | $1,103,581.14 |
| FY2022 | $5,075,011,000 | 4,466 | 22.2% | $1,136,366.10 |
| FY2023 | $4,702,286,700 | 4,331 | 20.0% | $1,085,727.71 |
| FY2024 | $5,868,374,300 | 5,348 | 21.4% | $1,097,302.60 |
| FY2025 | $7,709,372,500 | 6,627 | 23.6% | $1,163,327.67 |
| FY2026 to date | $7,035,857,300 | 5,908 | 25.8% | $1,190,903.40 |
504 change of ownership
| Period | Approval dollars | Approvals | Share of program dollars | Average approval |
|---|---|---|---|---|
| FY2021 | $149,809,000 | 164 | 1.9% | $913,469.51 |
| FY2022 | $202,600,000 | 192 | 2.4% | $1,055,208.33 |
| FY2023 | $234,534,000 | 221 | 4.1% | $1,061,239.82 |
| FY2024 | $286,485,000 | 203 | 4.7% | $1,411,256.16 |
| FY2025 | $363,643,000 | 227 | 5.2% | $1,601,951.54 |
| FY2026 to date | $280,839,000 | 155 | 4.3% | $1,811,864.52 |
Dashboard data as of August 31, 2026. The 504 program has a different structure and different eligible uses, so the table does not show that either program fits a particular purchase.
How is the tracker built and updated?
The tracker is rebuilt from three public SBA files by a script anyone can rerun, and it is updated monthly, after SBA publishes. Last updated September 29, 2026.
- Monthly figures come from SBA's 7(a) loan-level FOIA file, fiscal 2020 to present, as of June 30, 2026. A loan counts when its BusinessAge field reads "Change of Ownership", and it falls in the month of its approval date.
- Approval dollars are the sum of each loan's gross approval. The median is the middle gross approval of the month; the average is approval dollars divided by approvals. Nothing is adjusted for inflation.
- "Later cancelled" is the number of those approvals whose loan status in the same file is cancelled. They stay in the counts, as they do in SBA's monthly report.
- SBA updates the loan-level file quarterly, about one month after each quarter ends, and its activity reports monthly. Months the monthly report covers but the loan-level file does not yet hold are listed as not yet published.
- For all 80 months from October 2019 through June 2026, the loan-level file's count and dollars of all 7(a) approvals match SBA's Monthly and Yearly Activity report exactly.
- The fiscal-year table is the "Business Age - Change of Ownership" row of SBA's 7(a) and 504 Activity Dashboard, unchanged.
- Rule dates come only from this site's regulatory claim ledger, which the build checks before the page can ship.
SBA states that its data comes from records lenders submit and from information applicants supply voluntarily, and that it cannot represent the data as complete or accurate. The tracker adds no estimate for missing records and no projection for months SBA has not released. The JSON download records each source file's address, retrieval date and SHA-256 hash.
Frequently asked questions
How often is the SBA acquisition lending tracker updated?
Monthly, after SBA publishes. SBA refreshes its 7(a) activity reports every month and its loan-level file every quarter, about one month after the quarter ends, so the change-of-ownership months arrive three at a time. The page was last updated September 29, 2026, with loan-level data through June 30, 2026.
Does an SBA loan approval mean the business purchase closed?
No. An approval is not a closing or a funded loan. SBA's loan-level file lists 7,533 change-of-ownership approvals dated in fiscal 2025, and 665 of them now carry a cancelled status. The tracker still counts them as approvals, as SBA's monthly report does, and shows the cancelled count beside each month.
Is the median SBA loan the price of a business?
No. The median is the middle loan amount SBA approved for a change of ownership in that month. It is not a purchase price, a valuation or the amount any buyer will be offered, and it leaves out every purchase financed without an SBA loan.
Why does October 2025 show no approvals?
SBA's loan-level file has no 7(a) approval of any kind dated in October 2025, and SBA's Monthly and Yearly Activity report has no row for that month. The tracker shows the month as reported by SBA and does not estimate a figure for it.
Why do the monthly counts differ from SBA's fiscal-year dashboard?
They are two SBA reports with different counting. For fiscal 2025, the dashboard reports 6,627 change-of-ownership approvals, while the loan-level file lists 7,533, including loans later cancelled. SBA does not publish a reconciliation between them, so the tracker shows each as published and adjusts neither.
Sources
- U.S. Small Business Administration, 7(a) and 504 FOIA loan-level data
Primary authority - U.S. Small Business Administration, 7(a) and 504 Activity Reports (Monthly and Yearly Activity; Activity Dashboard)
Primary authority - SBA, SOP 50 10: Lender and Development Company Loan Programs
Primary authority - SBA Procedural Notice 5000-876626
Primary authority - Federal Register, 7(a) alternative base rate options
Primary authority