From 1 October 2023 to 30 June 2026, SBA lenders approved 2,881 7(a) loans in Utah worth $1.35 billion. The median loan was $150,000, level with the national $150,300, at a median rate of 10%, a little under the national 10.25%. Utah owners also took 607 SBA 504 loans, a high count beside the 7(a) total. Acquisitions were 9.5% of loans, below the national 10.4%, at a median of $603,000. Only 123 lenders approved a Utah 7(a) loan, so matching the deal to the right one matters a great deal.
| Measure | Utah | All industries |
|---|---|---|
| SBA 7(a) loans approved | 2,881 | 162,355 |
| Median loan | $150,000 | $150,300 |
| Middle half of loans | $60,000 – $499,000 | $50,000 – $500,000 |
| Loans of $1 million or more | 11.3% | 12.9% |
| Median rate at approval | 10% | 10.25% |
| Middle half of rates | 9% – 11.25% | 9.3% – 11.25% |
| Acquisitions (change of ownership) | 273 (9.5%) | 16,849 (10.4%) |
| Median acquisition loan | $603,000 | $693,000 |
| Lenders that made these loans | 123 | 1,648 |
| SBA 504 loans (real estate, equipment) | 607 | 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
- 2,881 worth $1.35 billion (1 Oct 2023 – 30 Jun 2026)
- Median loan
- $150,000 (national: $150,300)
- Median rate at approval
- 10%, middle half 9% to 11.25%
- SBA 504 loans
- 607, median $776,000
- Acquisition loans
- 273 (9.5%), median $603,000 at 9.5%
- Lenders that approved a Utah loan
- 123
The Utah numbers in brief
On the 7(a) side Utah looks like the country. The median loan was $150,000 and the middle half ran from $60,000 to $499,000. One loan in ten was above $1,114,000, and 325 loans, 11.3% of the total, reached $1 million. The median loan supported 5 jobs. SBA Express, capped at $500,000 with a 50% guaranty, made up 34.7% of approvals, a sign of many small working-capital and equipment loans.
Pricing ran slightly under the national figure: a median of 10% against 10.25%, with the middle half between 9% and 11.25%. Only 7.6% of loans were fixed-rate, so almost every Utah SBA borrower carries a variable rate that moves with the base rate. SBA caps that rate by loan size, at the base rate plus 6% for loans from $50,001 to $250,000, where the Utah median falls, down to plus 3% above $350,000; SBA loan rates sets out the tiers.
| Measure | Utah | All states | Reading |
|---|---|---|---|
| Median 7(a) loan | $150,000 | $150,300 | A typical-sized 7(a) market. |
| Median rate at approval | 10% | 10.25% | Slightly cheaper than the country. |
| Acquisitions as a share of loans | 9.5% | 10.4% | Slightly below the national share. |
| SBA 504 loans | 607, median $776,000 | Not reported | Many owners buy their premises through 504. |
A 504 state
The standout figure is 504. Utah recorded 607 SBA 504 loans at a median of $776,000, roughly one 504 loan for every five 7(a) loans. That is a large program beside the state's 7(a) lending, and it shows how many Utah owners buy the building they work in rather than lease it.
504 finances owner-occupied real estate and long-life equipment. A typical project is 50% from a bank, 40% from a certified development company and 10% from the borrower, rising to 15% for a new business or a special-purpose property and 20% for both. The CDC's share goes up to $5 million, or $5.5 million for manufacturers and energy projects. The business must occupy at least 51% of an existing building or 60% of new construction, so an owner building bigger than today's needs has to plan the extra space carefully.
Since July 2026 the 504 and 7(a) limits are counted separately. A Utah owner can finance the building through 504 and still use the full 7(a) limit, up to $5 million, for goodwill, equipment or working capital. For an owner who wants a fixed payment on the building, 504's fixed-rate CDC portion answers what Utah's variable 7(a) loans do not. SBA 7(a) vs SBA 504 and SBA 504 vs a conventional commercial mortgage set out the choice, and refinancing with 504 covers owners who already hold the property.
Drink shops share the top of the table
By loan count, Utah's top industries were full-service restaurants (77 loans), limited-service restaurants (72), snack and nonalcoholic beverage bars (72), fitness and recreational sports centers (67) and landscaping services (63). A drink-shop category tied with fast food is a Utah signature: specialty soda, coffee and treat shops have become a crowded, competitive local market.
Lenders fund these businesses, but they underwrite the risks carefully:
- Saturation. When new shops open near each other, a location's sales can fall after the loan is made. Lenders look at nearby competition and at each store's sales trend, not just its best year.
- Site and lease. Much of the revenue depends on drive-through traffic and visibility. A lease that ends before the loan does, or has no renewal option, is a problem to fix before applying.
- Concept track record. Many drink shops are independents or young regional concepts without long system data, so the lender relies on the store's own history. A new store without one is a start-up file, judged on the operator's experience and projection.
- Buying an existing shop. A buyer should expect the lender to test the seller's claimed sales against tax returns and bank deposits, since lenders credit the sales that appear on the returns, not the figures in a sales pitch.
SBA loans for snack and beverage bars has the industry's national figures, and financing a coffee shop acquisition covers a purchase.
Landscaping and the four-season year
Landscaping services ranked fifth, with 63 loans. Utah landscapers do most of their work from spring to autumn, and many add snow removal to carry crews and equipment through winter. Lenders read a landscaper month by month: whether winter work covers the payment, how much revenue is recurring maintenance rather than one-off installation, and whether the fleet of trucks and equipment is financed separately.
A term loan sized off annual earnings can still come up short in January. Pairing it with a line of credit for landscaping companies or a seasonal line, and showing monthly results in the file, answers the question before a lender asks. Financing a landscaping company acquisition covers buying one.
Buying a Utah business
SBA lenders approved 273 acquisition loans in Utah, 9.5% of the total, at a median of $603,000 and a median rate of 9.5%. The share is a little below the national 10.4%, and with 123 lenders active, a buyer should look for one that closes acquisitions routinely.
The rules are federal. A complete change of ownership needs equity of at least 10% of total project costs. A seller note counts for up to half of that injection only if it is on full standby, with no principal or interest paid, for the life of the SBA loan; a paying note is allowed but counts as debt in the coverage test. SBA prohibits an earnout to the seller. The seller may consult for up to 12 months, or up to 24 months under SOP 50 10 8.1 from 1 October 2026. Where the amount financed, less appraised real estate and equipment, exceeds $250,000, an independent business valuation is required and the loan for the purchase cannot exceed it.
From 1 October 2026 the bar rises: financial due diligence on every change of ownership, a quality of earnings report on acquisitions of $3 million or more excluding real estate, and debt service coverage of 1.25x on historical results rather than SBA's general 1.15x. A business earning 1,250 against new payments of 1,000 is at the new line. Change-of-ownership loans will also amortize over no more than 10 years except the real estate share. How SBA 7(a) loans finance an acquisition and seller notes and the full-standby rule go further.
SBA or conventional with 123 lenders
123 lenders approved at least one Utah 7(a) loan. That is a modest field, and it means a file sent to the wrong lender has fewer second chances nearby. Lenders do not need a Utah branch to lend in Utah, and many active SBA lenders work nationally.
SBA buys a lower down payment, a longer term and credit for goodwill, at the cost of a guaranty fee, SBA documentation and a personal guarantee from every owner of 20% or more. Conventional banks commonly look for debt service coverage of at least 1.25x and more equity. A Utah company buying its building may do better with 504 or a conventional mortgage than with a 7(a) loan; a buyer paying mostly for goodwill usually does better with 7(a); a seasonal business may need a line more than either.
Transparent's lender book holds 1,800+ lenders, 278 of which write SBA 7(a) and 504, 1,148 conventional term and private credit, and 244 equipment, so a Utah request can reach lenders well beyond the state's own field. The documents are the standard SBA set: two to three years of business and personal tax returns, a P&L, balance sheet and year-to-date P&L, a debt schedule with copies of notes being refinanced, and a personal financial statement for each 20%+ owner. Add monthly results for a seasonal business, the lease for a retail site, and for an acquisition the target's latest full year and the letter of intent. Once they are in, Transparent builds the full lender package, a financing model, lender presentation, blind teaser and underwriting memo, in a day; built by hand, the same package takes at least a week. Transparent charges nothing before a loan closes, and on SBA loans the lender pays Transparent, not the borrower. Our lenders explains the book.
Common questions
- What is the typical SBA loan size in Utah?
- The median Utah 7(a) loan approved from October 2023 to June 2026 was $150,000, level with the national median of $150,300. The middle half ran from $60,000 to $499,000, and 11.3% of loans were for $1 million or more.
- Why do so many Utah businesses use SBA 504?
- Utah owners took 607 504 loans at a median of $776,000, a high count beside 2,881 7(a) loans. 504 lets an owner buy an owner-occupied building with typically 10% down and a fixed-rate CDC portion, and since July 2026 it no longer uses up the 7(a) limit.
- Can I get an SBA loan for a soda or drink shop in Utah?
- Yes. Snack and nonalcoholic beverage bars tied for the second-largest industry by Utah SBA loan count. Lenders will look closely at nearby competition, the lease and site, and the store's own sales history.
- What rate do Utah SBA loans carry?
- The median rate at approval was 10%, just under the national 10.25%, with the middle half between 9% and 11.25%. Only 7.6% of loans were fixed-rate. Acquisition loans priced at a median of 9.5%.
- Does it matter that Utah has fewer SBA lenders?
- It makes the choice of lender more important. 123 lenders approved a Utah 7(a) loan in the period, and each has its own credit box. Lenders based elsewhere can also lend in Utah, which widens the field for a well-prepared file.