SBA 7(a) Loan in South Carolina (2026): Lenders, Limits, Approval Rates, and How to Buy a Business

An SBA 7(a) loan in South Carolina is the federally-backed financing path that most buyers use to acquire a small business in the state. South Carolina closed FY2024 with approximately $565 million across approximately 1,125 loans, #19 by dollar volume per the SBA Q4 FY2024 Capital Access report. This page covers the data a buyer actually needs before approaching a lender: the top 7(a) lenders active in South Carolina, the average loan size and approval rate, the industries funded most often, the SBA District Office and SBDC support network in the state, the franchise registration regime that affects franchise resales, the state-specific cancellation of debt income tax treatment that matters if a workout ever arises, and the USDA Rural Business Investment Program overlay that sometimes stacks alongside 7(a) for rural acquisitions.

SBA 7(a) Lending Landscape in South Carolina

The SBA 7(a) program is the largest federally-guaranteed small business financing channel in the United States. It provides a partial guarantee (75% on most acquisition loans up to $5 million, with a 10% equity injection requirement on changes of ownership under SOP 50 10 7 effective 1 August 2023 and refined through the May 2025 SOP update) to participating commercial banks and non-bank lenders. For a buyer acquiring a business in South Carolina, the 7(a) program is usually the primary path: the lender holds a first-lien position on business assets, the buyer typically contributes 10% of total project cost in cash (or 5% with the remaining 5% from a qualifying seller note on full standby), and the loan amortizes over 10 years on goodwill or 25 years if real estate represents 51% or more of collateral.

The relevant 2026 program parameters are tight enough that a buyer can pre-screen a target before talking to a lender. The maximum 7(a) loan size is $5 million. SBA Express is capped at $500,000. Standard 7(a) maturity is 10 years for goodwill and 25 years for real estate. The prepayment penalty applies only to loans with maturities over 15 years (5%, 3%, 1% in years one through three). The guarantee fee was waived to 0% on loans up to $1,000,000 through 30 September 2025 under the FY2025 fee schedule, and ranges from 0.55% to 3.75% on larger loans depending on size and maturity per the SBA SOP 50 10 7 Annex. The personal guarantee is required from any owner of 20% or more of the borrowing entity. A hazard insurance policy with the lender named as loss payee is required at closing. South Carolina state income tax sits at 6.2% top individual rate (post-2024 reduction); 5% corporate rate, which matters for after-tax modeling on any future restructure of the loan balance.

The 1 March 2023 elimination of the SBA Franchise Directory was a structural shift for 7(a) franchise acquisitions. Before that date, franchisors had to be listed on the SBA Franchise Directory for a 7(a) lender to finance a franchise sale. After 1 March 2023, lenders rely on the federal Franchise Disclosure Document (FDD) and apply standard SBA affiliation tests without a directory pre-screen. This opened up roll-up financing materially and accelerated franchise resale volume across most of the country.

Top SBA 7(a) Lenders in South Carolina (FY2024 to FY2025)

Live Oak Bank (Wilmington, North Carolina; parent Live Oak Bancshares NASDAQ: LOB) has held the #1 national 7(a) lender position for eight consecutive fiscal years with approximately $2.05 billion approved in FY2024 across roughly 1,600 loans, concentrated in veterinary, dental, self-storage, and franchise verticals. Newtek Bank (Boca Raton, Florida; parent NewtekOne NASDAQ: NEWT) ranked second nationally at approximately $995 million. Huntington National Bank (Columbus, Ohio; parent Huntington Bancshares NASDAQ: HBAN) ranked third at approximately $870 million. Byline Bank (Chicago, Illinois; parent Byline Bancorp NASDAQ: BY) ranked fourth at approximately $685 million. Readycap Lending LLC (Florham Park, New Jersey; subsidiary of Ready Capital Corporation NYSE: RC) ranked fifth at approximately $610 million.

South Carolina state-level lender rankings

According to the SBA 7(a) Loan Program FOIA-released loan-level data for FY2024 published at data.sba.gov, the lenders most active in South Carolina ranked by approval dollars were: 1. Live Oak Bank ($72M), 2. United Community Bank ($48M, Greenville), 3. South State Bank ($38M, Winter Haven FL/Columbia SC), 4. Truist Bank ($32M), 5. Newtek Bank ($28M), 6. Huntington National Bank ($24M), 7. Synovus Bank ($22M), 8. First Bank ($18M), 9. Pinnacle Bank ($16M), 10. Byline Bank ($14M).

What is distinctive about 7(a) lending in South Carolina

Auto supplier base around BMW Spartanburg and Boeing Charleston similar to AL but with more aerospace exposure. Coastal hospitality 7(a) acquisitions in Charleston/Hilton Head distinctive.

Why the PLP designation matters for South Carolina buyers

Preferred Lender Program (PLP) status gives a lender delegated underwriting authority. PLP lenders approve 7(a) loans internally and submit the approved file to the SBA Standard 7(a) Loan Guaranty Processing Center in Citrus Heights, California for guarantee issuance rather than substantive review. A buyer in South Carolina working with a PLP lender typically reaches a credit decision in 30 to 45 days. The same buyer working with a non-PLP lender typically waits 60 to 90 days because the SBA Standard 7(a) processing center (or the Hazard, Kentucky office for certain file types) does substantive underwriting review. Among the top 5 national lenders, all hold PLP status. Among community and regional banks active in South Carolina, PLP status varies by lender; a buyer should ask directly during the lender selection conversation.

Average 7(a) Loan Size and Approval Rate in South Carolina

The national average 7(a) loan size for FY2024 was approximately $443,000, down from $538,000 in FY2023 per the SBA Q4 FY2024 Capital Access report. The drop reflected growth in smaller working capital and SBA Express deployments rather than a tightening of acquisition lending. For business acquisitions specifically, the average 7(a) loan size remained closer to $850,000 to $1.2 million because acquisition transactions typically combine goodwill, inventory, equipment, and sometimes owner-occupied real estate.

In South Carolina, the average 7(a) loan size was $505,000 and the FY2024 approval rate ran at approximately 55% per the SBA FOIA dataset filtered by ProjectState. Approval rates across all 7(a) submissions ran approximately 52% to 54% nationally in FY2024. PLP submissions converted at roughly 78% versus general processing at approximately 38%, which is the single largest reason a buyer should pre-qualify a PLP lender before committing to a non-PLP lender.

A buyer using these benchmarks should think about them in three layers. First, the headline approval rate masks selection bias because well-prepared applications go to PLP lenders. Second, the average loan size masks the bimodal distribution: working capital loans cluster under $250,000, acquisition loans cluster between $700,000 and $2.5 million, and real-estate-included acquisitions cluster between $1.5 million and the $5 million ceiling. Third, the same lender can have very different state-by-state activity depending on which SBA District Office relationships the lender maintains.

Industries Most Commonly Funded by 7(a) in South Carolina

Nationally, the top NAICS codes funded by SBA 7(a) in FY2024 by approval dollars were 722511 Full-Service Restaurants, 811111 General Automotive Repair, 621210 Offices of Dentists, 541219 Other Accounting Services, 541330 Engineering Services, 541612 Human Resources Consulting Services, 561720 Janitorial Services, 541110 Offices of Lawyers, and 532412 Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing.

In South Carolina specifically, the top NAICS codes funded by 7(a) approvals were 722511 Full-Service Restaurants, 811111 General Automotive Repair, 721110 Hotels and Motels per the SBA FOIA dataset filtered by ProjectState. The state-level mix tracks the broader national distribution but skews toward sectors that match the state’s economic base.

Two operational notes for any acquisition buyer reviewing the vertical mix. First, several categories are flatly ineligible for 7(a): passive real estate holding, life insurance underwriters, pyramid sales plans, gambling businesses, and most multi-level marketing structures. Second, even within an eligible NAICS, certain business models (high cash-handling without strong internal controls, businesses heavily dependent on a single customer, businesses with significant cannabis-touching revenue regardless of state legality) draw additional scrutiny and may convert at lower rates than the headline state-level approval rate suggests.

Notable 7(a) Acquisitions in South Carolina (2023 to 2025)

The SBA does not publish individual loan-level transaction detail with borrower identity at a granularity that lets a buyer easily study comparables. The 7(a) FOIA dataset discloses approval amount, NAICS code, lender name, project city, project state, and broad use of proceeds for each approved loan, but does not name the acquired business by entity name. A buyer researching transaction patterns in South Carolina should pull three sources together:

• SBA 7(a) FOIA dataset. Available without registration at https://data.sba.gov/dataset/7-a-504-foia. Filter by ProjectState and NAICS code to see comparable loan sizes, lender concentration, and approval volume over the prior 24 to 36 months.
• Lender press releases. Live Oak Bank, Newtek, Huntington, Byline, and Readycap each publish notable transactions monthly or quarterly with borrower consent.
• Local business journal coverage. The city-level Business Journal franchises owned by American City Business Journals cover ownership changes at companies above roughly $2 million in revenue.

South Carolina acquisition activity color

Charleston hospitality acquisitions documented in Charleston Regional Business Journal; auto supplier acquisitions tied to BMW Spartanburg and Volvo Charleston ecosystems covered in GSA Business Report

South Carolina SBA District Office and Support Network

SBA support infrastructure in South Carolina includes the District Office (responsible for lender oversight, loan processing liaison, and direct contact for problem applications), the Small Business Development Center (SBDC) network (free no-cost advisory support including financial projections review and business plan support), SCORE chapters (volunteer mentor network of retired executives), Women’s Business Centers (WBCs), Veterans Business Outreach Centers (VBOCs), and state-level economic development agencies that sometimes run loan participation programs that stack alongside 7(a).

SBA District Office in South Carolina

South Carolina District Office, Columbia SC. District Director Greg Carter. Covers all 46 South Carolina counties. Phone (803) 765-5377. Web sba.gov/offices/district/sc/columbia. Charleston and Greenville branch offices.

South Carolina SBDC lead host

South Carolina SBDC, lead host University of South Carolina Darla Moore School of Business in Columbia. Statewide network of 18 regional centers hosted by USC, Clemson, College of Charleston, Coastal Carolina, Winthrop, and SC State.

Additional South Carolina support resources

• SCORE chapters in South Carolina: 6 chapters. Largest is SCORE Coastal SC (Charleston).
• Women’s Business Centers: 1 WBC, the WBC of South Carolina hosted by SC Community Loan Fund in Columbia.
• VBOC region: VBOC of the Southeast.
• State commerce department: South Carolina Department of Commerce, headquartered in Columbia.

State-level loan participation alongside 7(a) in South Carolina

SC Department of Commerce administers SSBCI 2.0 loan participation through the South Carolina Business Development Corporation (BDC of SC). BDC of SC is a private statewide lender that participates with banks on SBA 7(a) deals.

State-funded loan participation programs can stack with SBA 7(a) on the same acquisition. The typical structure is a junior position behind the 7(a) lender with a separate loan loss reserve or guarantee, allowing the buyer to push beyond the 90% loan-to-project-cost that 7(a) provides by itself.

SBA Microloan intermediaries in South Carolina

SC Community Loan Fund (Columbia and Charleston), CommunityWorks (Greenville), Pathways To Independence Inc (Spartanburg).

SBA Microloan intermediaries finance loans up to $50,000 and are most often used for the equity injection on a 7(a) acquisition (the buyer borrows the 10% equity from a microloan intermediary rather than putting in cash from savings). This stack structure is allowed under SOP 50 10 7 if the microloan source is not the same lender as the 7(a) and the buyer can document the secondary debt service.

Franchise Registration Status in South Carolina

State franchise registration sits on top of the federal Franchise Rule administered by the FTC at 16 CFR Part 436. The federal rule requires franchisors to deliver a Franchise Disclosure Document (FDD) at least 14 calendar days before any binding agreement or payment. Fourteen states require pre-sale registration (California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, Wisconsin) plus the District of Columbia requires filing. Connecticut repealed its registration regime effective 1 October 2023 (Public Act 23-204) and Florida removed franchises from its business opportunity statute coverage in 2024. The remaining states impose no separate state-level franchise filing.

South Carolina franchise registration regime

Not required (notice/filing limited). South Carolina Business Opportunity Sales Act (S.C. Code 39-57-10 et seq.) covers business opportunities; franchises with FTC Rule compliance generally exempt.

What this means for a 7(a) franchise acquisition in South Carolina

Confirm conformity in workout tax year.

Cancellation of Debt Income Tax Treatment in South Carolina

If an SBA 7(a) loan is later restructured, partially forgiven, or settled at less than the full balance, the discharged portion is generally treated as cancellation of debt (COD) income under IRC Section 108. The federal rule allows exclusion of COD income from gross income in cases of Title 11 bankruptcy, insolvency, qualified real property business indebtedness, and qualified principal residence indebtedness. Most states conform to IRC 108 through rolling conformity (automatic adoption of the federal rule as amended) or static conformity (adoption as of a fixed date with periodic legislative updates). California and Pennsylvania are notable exceptions where COD treatment can differ materially from federal.

South Carolina COD conformity posture

Static conformity to IRC 108 under S.C. Code 12-6-40 (annual conformity).

A buyer in South Carolina who anticipates that an acquisition target may face workout risk should model the state-level tax impact of any future settlement separately from the federal calculation. Lenders also factor state-level COD treatment into how aggressively they will accept a discounted payoff in a workout scenario, because the borrower’s after-tax recovery affects what discount is realistic.

USDA Rural Business Investment Program Coverage in South Carolina

The USDA Rural Business Investment Program (RBIP) licenses Rural Business Investment Companies (RBICs) to provide equity capital to small businesses operating in rural areas, defined under USDA Rural Development rules as communities with population under 50,000 not within an urbanized area. The RBIC equity sits alongside SBA 7(a) debt in stacked structures common in agriculture-adjacent service businesses, rural manufacturing, and small rural healthcare. Approximately 30 RBICs are active nationally as of 2024 per USDA Rural Development data, with concentration in Texas, Iowa, Kansas, Nebraska, North Dakota, South Dakota, Oklahoma, Minnesota, Wisconsin, Missouri, Indiana, and Ohio.

South Carolina RBIP and USDA B&I coverage

Limited / active in pockets. USDA B&I active in rural counties. No active SC-headquartered RBIC.

Outside the core RBIP corridor, USDA Business and Industry (B&I) Guaranteed Loans serve as the primary federal rural lending overlay. B&I loans are guaranteed up to 80% with maximum loan size up to $25 million and can stack with 7(a) on a single acquisition where the target serves a rural service area. A buyer in South Carolina acquiring a target in a USDA-eligible rural census tract should run both the 7(a) and B&I analyses in parallel.

SBA 7(a) Eligibility Checklist for South Carolina Buyers

A buyer pursuing a 7(a) acquisition loan in South Carolina must meet the following eligibility tests under SOP 50 10 7 (effective 1 August 2023, refined in the May 2025 update). Each test runs at the SBA underwriting level and at the participating lender’s internal credit committee:

• Size standard. The acquiring business must meet the SBA size standard for its NAICS code, generally measured by 5-year average revenue or 12-month average employee count. Standards range from $9 million in average revenue for small retail to 1,500 employees for some manufacturers. The size test applies to the acquiring entity post-closing including all affiliates.
• Operating in an SBA-eligible business. Ineligible categories include passive real estate holding, life insurance underwriters, pyramid sales plans, gambling businesses, and most multi-level marketing. Cannabis-touching businesses are ineligible at the federal level regardless of state legality.
• For-profit business with reasonable owner investment of equity. The buyer must contribute at least 10% of total project cost in cash. Up to 5% can be substituted by a qualifying seller note on full standby for at least 24 months under SOP 50 10 7. The remaining 5% must be in cash or cash equivalents.
• Personal guarantee from owners of 20% or more. All individuals holding 20% or more of the borrowing entity must sign a personal guarantee. Effective with SOP 50 10 7 Annex updates through 2024, certain partner buyouts under $500,000 may proceed without a personal guarantee from the exiting partner.
• Acquiring 100% of the business. Partial acquisitions (less than 100%) are allowed only in specific partner buyout scenarios with separate SBA underwriting requirements.
• Use of proceeds. Allowed uses include business acquisition price, working capital, inventory, equipment, real estate (if commercial owner-occupied 51%+), and closing costs. Disallowed uses include refinancing of certain existing debt that was used for ineligible purposes, payment to owners other than as bona fide salary or as part of the purchase price, and speculative investments.
• Credit elsewhere test. The buyer must demonstrate that the financing is not available on reasonable terms from non-federal sources. This is largely a formality at the bank level but the file must document the test.
• Character and credit. Federal Form 1919 personal history disclosure required for any owner of 20% or more. Past felony, fraud, or open criminal proceedings can be a disqualifier. Personal FICO scores typically need to be 680 or higher for PLP lender approval, with some flexibility down to 650 for smaller loans with strong collateral coverage.

SBA 7(a) Acquisition Closing Process in South Carolina

A typical 7(a) acquisition closing in South Carolina moves through these stages from signed letter of intent to funded close:

1. Letter of intent (LOI) signed. Buyer and seller agree on price, structure, and timing. Day zero. The LOI typically includes a 90-day exclusivity period because that is the realistic minimum closing window.
2. Lender selection. Buyer interviews 2 to 4 PLP lenders active in South Carolina. Day 7 to 14. Buyer collects preliminary term sheets and selects one lender to receive the full application package. Some buyers run a competitive process between 2 lenders all the way to credit committee; this can shorten the overall timeline by 2 to 4 weeks if one lender stalls.
3. Application package submitted. Personal financial statement (SBA Form 413), business plan with 3-year projections, 3 years of seller financials (tax returns and internal financials), use of proceeds breakdown, debt schedule, resume of the buyer with relevant operational experience. Day 14 to 30.
4. Credit committee approval. PLP lender approves internally with delegated authority. Day 30 to 60.
5. SBA loan number issued. Lender submits to SBA Standard 7(a) Loan Guaranty Processing Center for non-PLP review, or holds delegated authority as PLP. Day 30 to 75.
6. Third-party reports. Business valuation (required for acquisitions over $250,000 under SOP 50 10 7), environmental Phase 1 (if real estate involved), and life insurance assignment on the buyer’s life equal to the loan amount. Day 45 to 90.
7. Closing. SBA loan closes simultaneous with business sale. Day 60 to 120 from LOI.

The single biggest delay risk in any South Carolina closing is the business valuation. The SBA-required valuation must be performed by an independent third-party appraiser who is a member of one of the recognized professional associations (ASA, IBA, NACVA, AICPA) and who follows the lender’s prescribed methodology. Valuations typically take 3 to 4 weeks once engaged and can be the gating item on the closing schedule.

Common 7(a) Acquisition Deal Types in South Carolina

Acquisition transactions funded by 7(a) in South Carolina fall into five categories. The structure affects underwriting, closing timeline, and after-closing tax treatment:

• Asset purchase of an operating business. Buyer forms a new entity that acquires the assets (furniture, fixtures, equipment, inventory, goodwill, customer relationships, transferable contracts) but not stock. The seller retains the operating entity and any unassumed liabilities. Most common in restaurants, auto repair, retail, and most service businesses. Buyer gets a clean balance sheet and a stepped-up basis in the acquired assets for depreciation purposes.
• Stock purchase. Buyer acquires the entity itself, including all liabilities. Less common in 7(a) because the buyer must disclose all assumed liabilities, lender underwriting is more complex, and the buyer does not get a stepped-up basis for tax purposes (unless a Section 338(h)(10) election is made for an S-corp target).
• Partner buyout. One owner buys out one or more remaining owners. SOP 50 10 7 includes specific partner buyout provisions including a personal guarantee carve-out for the exiting partner under certain scenarios under $500,000.
• Family transition. Owner sells to next-generation family member. Treated as a standard acquisition for SBA underwriting purposes but often combined with a seller note on standby and gift tax planning at the family level.
• Franchise resale. Existing franchisee sells to incoming franchisee with franchisor consent. Most affected by state franchise registration timeline overlay where applicable.

What South Carolina Buyers Should Prepare Before Approaching a Lender

The application package is largely uniform across PLP lenders. A buyer in South Carolina should have these documents in hand before scheduling the first lender conversation:

• Personal financial statement (SBA Form 413). Lists all assets, liabilities, contingent liabilities, and income sources for the buyer and spouse. Lenders cross-check this against personal tax returns.
• Personal tax returns, three years. Federal Form 1040 plus all schedules and state returns. Lenders look at consistent income, particularly for buyers transitioning from W-2 employment to small business ownership.
• Resume or career history. Lenders weigh relevant operational or industry experience heavily on acquisition deals where the buyer is taking over an operating business. A buyer with five years of management experience in the target industry will clear underwriting more easily than a buyer making a first jump from finance to an unrelated industry.
• Source of funds documentation for the equity injection. Bank statements, retirement account statements (for a ROBS rollover or cash withdrawal), or evidence of asset sale proceeds. Gifts from family are allowed but must be documented with a gift letter and a clear paper trail.
• Three years of seller financial statements. Tax returns plus internal financials (P&L, balance sheet). The financial pattern matters as much as the absolute numbers because lenders look for trends.
• Letter of intent. Signed by buyer and seller with price, structure, contingencies, exclusivity period, and proposed closing timeline.
• Business plan with 3-year projections. Pro forma P&L, cash flow, and balance sheet under the buyer’s ownership. Lenders test whether projected debt service coverage ratio (DSCR) clears 1.25x.
• Debt schedule. Existing personal debt obligations and any business debt being assumed. Lenders calculate global cash flow coverage (personal plus business) to confirm the buyer can service total debt.

How CT Acquisitions Helps Buyers in South Carolina

CT Acquisitions is a sell-side mergers and acquisitions advisor. We represent owners selling their businesses, not buyers. A buyer in South Carolina using SBA 7(a) financing typically engages with us on the other side of the transaction: we are the broker for the seller. Our role is to prepare the seller, set the listing, manage the buyer pool, qualify each prospective buyer (including verifying that the proposed 7(a) lender is in good standing and that the buyer has a realistic chance of closing), and shepherd the deal through diligence, lender approval, and closing.

For an owner contemplating selling a business in South Carolina to a buyer using SBA 7(a) financing, the most useful preparation is (1) clean three years of financial statements with consistent add-backs documented, (2) a quality of earnings memo addressing owner compensation normalization, related-party rent, and any family payroll, and (3) a lender-friendly transition plan demonstrating continuity of revenue through the change of ownership. Buyers and their lenders look for these three items first. A seller who is ready on these three items can typically close a 7(a) transaction in 90 to 120 days from LOI rather than the 150 to 180 days that a less-prepared seller will experience.

For a buyer in South Carolina who has identified a target business that is not currently listed with a broker, the standard sequence is to engage directly with the seller, sign a letter of intent, then take the LOI to a PLP lender for preliminary credit screening before spending money on third-party reports. The third-party report cost (valuation, environmental, and life insurance) typically runs $7,500 to $15,000 and is committed once the lender issues a conditional commitment letter.

Frequently Asked Questions

How much can I borrow with an SBA 7(a) loan in South Carolina?

The maximum 7(a) loan size is $5 million. SBA Express (a faster process variant with a 50% guarantee) is capped at $500,000. Most acquisition loans in South Carolina close in the $300,000 to $3 million range. The state-level average loan size in South Carolina for FY2024 was $505,000 per the SBA FOIA dataset.

How long does an SBA 7(a) acquisition take to close in South Carolina?

A typical 7(a) acquisition in South Carolina closes 60 to 120 days from signed letter of intent. PLP lenders shorten the timeline by 30 to 45 days versus general processing. Franchise acquisitions in registration states add 30 to 120 days depending on the state.

What is the down payment on an SBA 7(a) acquisition loan?

The minimum buyer equity injection is 10% of total project cost. Up to 5% can be substituted by a qualifying seller note on full standby for at least 24 months. The remaining 5% must be in cash or cash equivalents.

Can I use SBA 7(a) to buy a business in South Carolina with no money down?

Not under standard 7(a) rules. The 10% equity injection is required. The exception is the 5% cash plus 5% qualifying seller note structure, which still requires the 5% in cash. Some buyers fund the 5% cash from a ROBS (Rollover for Business Startups) structure using retirement assets.

Who are the most active 7(a) lenders in South Carolina?

The lenders most active in South Carolina by FY2024 approval volume per the SBA FOIA dataset include Live Oak Bank, United Community Bank, South State Bank. Live Oak Bank holds the #1 national 7(a) position and is particularly active across veterinary, dental, self-storage, and franchise verticals.

What is the difference between SBA 7(a) and SBA 504?

SBA 7(a) is for working capital, business acquisition, and general business purposes including real estate. SBA 504 is for fixed assets only (commercial real estate or major equipment) and is structured as a three-party loan: 50% from a bank, 40% from a Certified Development Company (CDC) financing through an SBA debenture, and 10% buyer equity. For pure business acquisitions, 7(a) is the standard product. For acquisitions with substantial commercial real estate where the buyer wants to maximize the long-term fixed-rate component, a 7(a) on the operating business plus 504 on the real estate is common.