From 1 October 2023 to 30 June 2026, 177 SBA lenders approved 7,738 7(a) loans in Ohio worth $2,780,056,300. The median loan was $100,000, two-thirds of the national $150,300, and SBA Express carried 43.5% of loans. The median rate was 10.5%, above the national 10.25%. Acquisitions were 8.9% of loans at a median of $512,250 and a rate of 9.5%. Small Ohio loans cluster at the same price; larger loans, especially acquisitions and refinancings, are negotiated, and an established company should test SBA against conventional and asset-based lenders before choosing.
| Measure | Ohio | All industries |
|---|---|---|
| SBA 7(a) loans approved | 7,738 | 162,355 |
| Median loan | $100,000 | $150,300 |
| Middle half of loans | $50,000 – $304,750 | $50,000 – $500,000 |
| Loans of $1 million or more | 8.9% | 12.9% |
| Median rate at approval | 10.5% | 10.25% |
| Middle half of rates | 9.5% – 10.5% | 9.3% – 11.25% |
| Acquisitions (change of ownership) | 692 (8.9%) | 16,849 (10.4%) |
| Median acquisition loan | $512,250 | $693,000 |
| Lenders that made these loans | 177 | 1,648 |
| SBA 504 loans (real estate, equipment) | 333 | 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.
- 7(a) loans approved
- 7,738 from 177 lenders (1 Oct 2023 – 30 Jun 2026)
- Median loan
- $100,000 (national $150,300)
- Median rate at approval
- 10.5%, middle half 9.5% to 10.5%
- SBA Express share
- 43.5%
- Acquisition loans
- 692 (8.9%), median $512,250 at 9.5%
- SBA 504 loans
- 333, median $685,000
A small-loan state
Half of Ohio's 7(a) approvals were for $100,000 or less, and at least a quarter were for $50,000 or less. The middle half ran from $50,000 to $304,750. The median business supported 3 jobs, and 19.3% of loans went to start-ups. Put together, the typical Ohio SBA loan is a modest amount to a small or new business, much of it through SBA Express, which goes up to $500,000 with a 50% guaranty and lets the lender use its own forms.
The state also has a real tail of large loans: 687 loans of $1 million or more, 8.9% of the total, with one loan in ten above $880,000. Those are the acquisitions, buildings and refinancings of established companies, and they are underwritten very differently from the Express loans that set the median.
| Measure | Ohio | National | Reading |
|---|---|---|---|
| Median 7(a) loan | $100,000 | $150,300 | Small loans dominate the count |
| Median rate at approval | 10.5% | 10.25% | Small loans price higher under SBA's caps |
| Acquisitions as a share of loans | 8.9% | 10.4% | Fewer purchases, at five times the median loan size |
| Fixed-rate share | 10.9% | Nearly nine in ten loans float | |
| SBA 504 loans | 333, median $685,000 | About one 504 loan for every 23 7(a) loans |
Why Ohio rates bunch at 10.5%
Ohio's rates are tightly bunched. The median was 10.5%, and so was the top of the middle half: the middle half of loans priced between 9.5% and 10.5%, which means a large block of loans carried exactly the same rate. That is consistent with standardized small-loan pricing: many lenders price Express and other small loans from a grid rather than case by case, and SBA's caps leave the most room on the smallest loans.
| Loan size | SBA rate cap | Where Ohio's loans fall |
|---|---|---|
| $50,000 or less | Base rate plus 6.5% | At least a quarter of Ohio loans |
| $50,001 to $250,000 | Base rate plus 6% | The median loan, $100,000 |
| $250,001 to $350,000 | Base rate plus 4.5% | The upper quarter begins at $304,750 |
| Above $350,000 | Base rate plus 3% | The median acquisition loan, $512,250, and all 687 loans of $1 million or more |
The lesson for an owner is where negotiation happens. A small Express loan usually leaves little to negotiate on price. A loan above $350,000 is capped lower, and the lender's spread within that cap depends on how well the file answers its questions. Acquisition loans in Ohio priced at a median of 9.5%, a full point under the state median. See SBA loan rates and SBA 7(a) vs SBA Express.
Trucking tops the list
By loan count, the five largest Ohio industries were long-distance truckload carriers (323 loans), full-service restaurants (289), residential remodelers (270), limited-service restaurants (244) and other specialty trade contractors (199). Ohio sits on the freight lanes between the Midwest and the East Coast, and a truck is a business an experienced driver can start, which fits both the count and the state's start-up share.
Lenders read a trucking file on three things. The first is the equipment: a truck is collateral, and SBA allows up to 10 years for equipment, or 15 if its useful life supports it, but a used tractor may not justify either, so a dedicated equipment loan is often the better tool; see equipment financing vs SBA 7(a). The second is revenue concentration: a carrier that hauls for one broker or one shipper depends on that relationship. The third is the freight cycle: rates on the spot market swing, and a lender wants to see how the business covered its payments in a weak year. SBA loans for long-haul trucking covers the industry in depth.
For remodelers and specialty trade contractors, the questions are backlog, customer deposits and how much work depends on the owner personally. See residential remodelers and specialty trade contractors.
Cash advances and confessions of judgment
Small trucking companies, restaurants and contractors are among the heaviest users of merchant cash advances, and Ohio adds a complication. Ohio law allows a confession-of-judgment clause in a commercial agreement, so a business that signed one can have a judgment entered against it without a trial. Owners carrying advances should know what they signed; see confession-of-judgment clauses in cash advances.
SBA will not refinance an active merchant cash advance or a factoring agreement. From 1 October 2026 an advance becomes eligible only once it has been converted to a term loan that has amortized for at least 24 months with no new advance since. Any 7(a) refinance of existing debt also requires the new payment to be at least 10% lower and the debt to have been current for the last 12 months. An Ohio business with stacked advances usually needs a conventional or private refinance first; see MCA refinance and refinancing existing debt with SBA 7(a).
Buying an Ohio business
Ohio lenders approved 692 acquisition loans at a median of $512,250, five times the state's median loan. The buyer puts in at least 10% of total project costs; a seller note can supply up to half of that only on full standby for the life of the loan, and SBA prohibits an earnout. Where the amount financed, less appraised real estate and equipment, exceeds $250,000, an independent valuation is required. From 1 October 2026 the loan must show 1.25x coverage on historical results, financial due diligence is required on every change of ownership, and the seller's consulting period can run up to 24 months instead of 12. SBA 7(a) acquisition loans covers the rest.
Ohio runs workers' compensation through a state fund, and a buyer can inherit the seller's claims experience and unpaid premiums. Lenders ask for a current coverage certificate and the account's standing.
That matters most in the trades and trucking, where claims history drives premiums and a lapse can stop work. Ask the seller for the account's history before signing the letter of intent, along with the latest full year of figures.
SBA or conventional for an established Ohio company
Ohio's manufacturers, distributors and service companies with years of statements often have better options than a small Express loan. A company with receivables and inventory can borrow on a line sized to them: asset-based lenders typically advance 80% to 90% of eligible receivables. Conventional bank lenders commonly look for debt service coverage of at least 1.25x and ask for more equity than SBA, and they are not bound by SBA's rule that every owner of 20% or more guarantees the loan. SBA's case is strongest where a deal needs a low down payment, a longer term or financing for goodwill.
Ohio's 333 SBA 504 loans, at a median of $685,000, are a small part of the state's SBA lending. An Ohio company that occupies its building should price 504 against a conventional mortgage before assuming either; see SBA 7(a) vs SBA 504.
Transparent's lender book holds 1,800+ lenders: 278 write SBA 7(a) and 504, 1,148 write term and private credit, 235 write asset-based loans and lines, and 244 write equipment. A trucking company can be shown to equipment lenders and SBA lenders from the same file. The file starts with two to three years of business and personal tax returns, a P&L, balance sheet and debt schedule with copies of notes being refinanced, and a personal financial statement for each 20%+ owner; the full lender package is built in a day once those are in. Nothing is charged before closing, and on SBA loans the lender pays Transparent.
Common questions
- What is the typical SBA loan size in Ohio?
- The median 7(a) loan approved from October 2023 to June 2026 was $100,000, below the national median of $150,300. The middle half ran from $50,000 to $304,750. Acquisition loans were much larger, at a median of $512,250.
- Is SBA Express right for my Ohio business?
- For a small, simple need it often is: 43.5% of Ohio loans went through Express. It goes up to $500,000 with a 50% guaranty. An acquisition, a real estate purchase or a refinance of several debts is usually better handled as a standard 7(a) loan, where the lender underwrites the whole file.
- Can an SBA loan pay off my merchant cash advance?
- Not while the advance is active. From 1 October 2026 an advance becomes eligible only after it has been converted to a term loan and amortized for at least 24 months with no new advance. Owners with advances usually look to a conventional or private refinance first.
- Can a new trucking company get an SBA loan in Ohio?
- Start-ups took 19.3% of Ohio loans, and long-distance truckload was the state's largest industry by count. Lenders want the owner's driving and operating experience, at least 10% of project costs as equity, and a plan for freight that does not rest on a single broker.
- What happens to workers' compensation when I buy an Ohio business?
- Ohio's state fund can treat the buyer as a successor, carrying over the seller's claims experience and any unpaid premiums. Check the account's standing before closing and have the purchase agreement deal with anything owed.