This catch-all code covers personal services with no code of their own, such as wedding and event planners, personal organizers, concierge and errand services, and matchmaking. From October 2023 to June 2026 it took 1,390 SBA 7(a) loans, about $451 million from 255 lenders, at a median of $135,000 and a median rate of 10.5%. Buyers took 144 of them, 10.4%, the same share as nationally, at a median of $440,000 and 9.5%. Lenders first establish what the business actually does, then how much of its revenue depends on the owner.
| Measure | All Other Personal Services | All industries |
|---|---|---|
| SBA 7(a) loans approved | 1,390 | 162,355 |
| Median loan | $135,000 | $150,300 |
| Middle half of loans | $50,000 – $350,000 | $50,000 – $500,000 |
| Loans of $1 million or more | 7.1% | 12.9% |
| Median rate at approval | 10.5% | 10.25% |
| Middle half of rates | 9.5% – 11.75% | 9.3% – 11.25% |
| Acquisitions (change of ownership) | 144 (10.4%) | 16,849 (10.4%) |
| Median acquisition loan | $440,000 | $693,000 |
| Lenders that made these loans | 255 | 1,648 |
| SBA 504 loans (real estate, equipment) | 219 | 16,714 |
Approvals FY2024 – FY2026 to date (1 Oct 2023 – 30 Jun 2026), cancelled loans excluded. Source: SBA 7(a) and 504 FOIA loan records, as of June 30, 2026.
- SBA 7(a) loans approved
- 1,390 (Oct 2023 – Jun 2026)
- Median loan
- $135,000 (national $150,300)
- Median rate at approval
- 10.5% (national 10.25%)
- Business purchases
- 144 loans (10.4%), median $440,000 at 9.5%
- SBA 504
- 219 loans, median $613,000
What SBA lenders approved in this code
All other personal services (NAICS 812990) took 1,390 SBA 7(a) loans from FY2024 through June 2026, worth $450,596,700, from 255 lenders. The loans are a little smaller than the national median and priced a little higher, which is what one would expect of small, owner-run service firms. The notable figure is the acquisition share: 144 loans, 10.4% of the total, exactly the national share, and a higher share than many service codes.
| Figure | All other personal services | Reading |
|---|---|---|
| Median loan | $135,000 | Below the national $150,300 |
| Middle half | $50,000 to $350,000 | Spans every SBA rate-cap band but the lowest-cost one |
| Top tenth starts at | $722,700 | Purchases and owned premises |
| Loans of $1 million or more | 99 (7.1%) | Larger purchases and buildings |
| Median rate | 10.5% (middle half 9.5% to 11.75%) | A quarter-point over the national 10.25% |
| Acquisitions | 144 (10.4%), median $440,000 at 9.5% | Level with the national share, and priced a point below the industry median |
| Start-ups | 13.6% of loans | Most borrowers already have a trading record |
| Franchises | 9.1% of loans | Some branded concepts, mostly independents |
| SBA Express | 29.9% of loans | Small needs handled on a lender's own credit process |
| SBA 504 | 219 loans, median $613,000 | A meaningful number of owners buy their premises |
A catch-all code: the lender's first questions
In a well-defined industry, the code tells an underwriter what the business does, how it earns and what usually goes wrong. Here it does not. The same code holds a wedding planner, a home-organizing service, a personal concierge and a matchmaker. So the first part of any file is a plain description of the business: what it sells, to whom, how it is priced, and how the money comes in.
That description also answers SBA's eligibility questions. SBA excludes some kinds of business outright, among them businesses of a prurient sexual nature and businesses primarily engaged in lending, and a few activities that end up in a residual personal-services code sit near those lines. Lenders check what the business actually does against SBA's rules, not the code on the application, and a business that describes itself vaguely invites more questions, not fewer. Where the activity needs a state or local license, the license needs to be in the business's name and current.
The code also carries customer deposits. Event and wedding planners in particular collect deposits months before the work. That cash is not yet earned; if the event is cancelled it may have to be refunded, and if the business is sold, the buyer inherits the obligation to deliver. Lenders want the deposits shown as a liability, with a calendar of the events they relate to. See working capital at close.
Owner-dependence: the central risk
Personal services are sold person to person. In many of these businesses the owner is the brand, the salesperson and much of the service. That is fine while the owner stays and the loan is for equipment or a new location. It becomes the whole question when the business is sold, or when the lender asks what happens if the owner is unable to work.
| Sign of owner-dependence | Why the lender cares | What reduces the concern |
|---|---|---|
| Clients book because of the owner by name | Revenue may not survive a change of hands | Bookings and reviews in the business's name, not the owner's |
| The owner delivers most of the service | No capacity without the owner | Staff who deliver the service and can be shown doing so |
| Referral sources are personal relationships | Referrals may stop when the owner leaves | Referral agreements or a record of referrals to staff |
| No written process or client records | A buyer cannot run what they cannot see | A client database, pricing sheets and written procedures |
Where the owner is the business, lenders commonly require life insurance on the owner, assigned to the lender. See key-person life insurance. Every owner of 20% or more personally guarantees an SBA loan, whatever the insurance.
In a personal-services purchase, the lender is asking what the buyer gets that the seller cannot take home.
Buying a personal-services business
Buyers took 144 loans at a median of $440,000 and 9.5%, a full point below the industry's overall median rate. The price gap lines up with size: SBA caps variable rates at the base rate plus 3% on loans above $350,000, against plus 6% from $50,001 to $250,000, and the median purchase loan sits above the $350,000 line. See SBA loan rates.
Since what is being bought is mostly goodwill, SBA's rules bite hard. The buyer needs an equity injection of at least 10% of total project costs. A seller note counts toward up to half of that only if it is on full standby, with no payments, for the life of the SBA loan; a note that is paid currently is allowed, but it counts as debt in the coverage test. SBA prohibits an earnout to the seller, so a price that depends on clients staying cannot be paid that way. Where the amount financed, less appraised real estate and equipment, exceeds $250,000, an independent business valuation is required and caps the loan. See seller notes and SBA's full-standby rule and SBA's business valuation requirement.
The seller transition is the tool that makes an owner-dependent business financeable. In a complete change of ownership the seller may not stay as an owner, officer or employee, but may consult for up to 12 months, or up to 24 months under SOP 50 10 8.1 from 1 October 2026. A buyer should use that window to take over the client relationships in person. Lenders also look at the buyer's own experience in the service; see buyer industry experience requirements.
What changes on 1 October 2026
SOP 50 10 8.1 tightens three rules that bear directly on purchases in this code. Every change of ownership needs financial due diligence. A change of ownership must show debt service coverage of 1.25x on historical results, not only the 1.15x SBA requires generally. And the loan amortizes over no more than 10 years, except any real estate share.
The coverage change is the one most likely to move a deal. A business whose historical earnings are 1,150 against proposed payments of 1,000 covers 1.15x, enough under the general rule and short of 1.25x. The fix is a lower price, more equity or a larger standby seller note, and it is easier to negotiate before the letter of intent than after. The buyer's own salary counts against those earnings; see buyer salary in acquisition DSCR and debt service coverage ratio.
Preparing the file
The SBA list comes first: business tax returns for 2–3 years, a P&L and balance sheet with a year-to-date P&L through last month-end, a debt schedule with copies of notes being refinanced, and personal tax returns and a personal financial statement for each owner of 20% or more. A use-of-proceeds narrative and the owner's resume matter more than usual in a code this broad. A purchase also needs the letter of intent and the target's latest full year of figures. Add:
- A plain description of the services, pricing and customers
- Revenue by service line, and how much of it the owner delivers personally
- The deposit ledger and calendar of booked work, where the business takes deposits
- Any licenses the activity requires
- Staff roles, and who holds the main client and referral relationships
Transparent builds those into a full lender package, meaning a financing model, lender presentation, blind teaser and underwriting memo, in a day once the documents are in, and takes it to lenders among the 278 in its book that write SBA 7(a) and 504. The description of the business carries more weight here than anywhere, and the package is written to answer the first questions before a lender asks them. On SBA loans the lender pays Transparent, not the borrower. See the package.
Common questions
- Is my personal-services business eligible for an SBA loan?
- Most are. SBA excludes certain kinds of business outright, such as businesses of a prurient sexual nature and businesses primarily engaged in lending. Lenders check what the business actually does against SBA's rules, so describe it plainly and completely.
- Can the seller stay on after I buy the business?
- Not as an owner, officer or employee in a complete change of ownership. The seller may consult for up to 12 months, or up to 24 months under SOP 50 10 8.1 from 1 October 2026.
- How do lenders treat customer deposits?
- As a liability, not income. Deposits are owed back or owed in service until the work is done, and a buyer inherits that obligation. Show them separately, with the events they relate to.
- What rate should I expect?
- The median rate at approval from October 2023 to June 2026 was 10.5%, with the middle half between 9.5% and 11.75%. Purchase loans, which were larger, priced at a median of 9.5%.
- Does the October 2026 SOP change affect my purchase?
- If the loan is approved on or after 1 October 2026, yes: the business must show 1.25x debt service coverage on historical results, financial due diligence is required, and the loan amortizes over no more than 10 years except any real estate share.