A generational transfer of small business ownership is building across the United States as the last of the Baby Boom generation approaches retirement age, creating what analysts describe as one of the largest ownership transition opportunities in the history of US small business.
Change-of-ownership loans are among the fastest-growing categories in the SBA lending program, reflecting growing interest from acquisition-minded entrepreneurs who are choosing to buy established businesses with proven cash flow rather than launch new startups. Online search activity around terms such as "buy a business," "business broker," and "SBA 7a loan" has been trending upward since late 2024.
Valuation multiples in 2026 range widely by business quality and sector: from 3 times EBITDA for smaller businesses with concentrated customers or commodity service offerings, up to 14 times or more for premium private equity platform companies in healthcare, technology-enabled services, and regulated trades. Buyers with access to financing and deal experience are able to move quickly on well-priced listings in the current environment.
The March 2026 SBA citizenship rule, which limits 7(a) and 504 loan eligibility to US citizens only, has introduced a new constraint for buyers. Brokers and M&A advisors have noted increased client inquiries about alternative financing structures including seller financing, seller holdback provisions, and commercial bank alternatives to SBA-backed loans.
Source: BizBuySell -- https://www.bizbuysell.com/blog/2025-year-in-review/