SBA Loans for Auto Body & Collision Shops
13,969 SBA loans have funded auto body & collision shops nationwide, averaging $326K across 1,386 active SBA lenders, at an average note rate of 7.3%. SBA 7(a) loans up to $5M fund acquiring a collision or body shop and spray booths, frame machines, and paint systems; SBA 504 loans cover owner occupied real estate and equipment with as little as 10% down. PeerSense reads this lending history and sources capital for an auto body shop.
Published: ·Last updated: ·By Ed Freeman, Capital Advisor. PeerSense
Source: SBA 7(a) and 504 loan records (NAICS 811121), 2000 to present.
13,969
SBA Loans Funded
$326K
Average Loan
7.3%
Avg Note Rate
13 yrs
Avg Term
1,386
Active Lenders
12.9%
Charge Off Rate (resolved loan basis)
What auto body & collision shops use SBA loans for
Where auto body & collision shops get SBA financing
| State | SBA Loans | Capital Deployed |
|---|---|---|
| California | 2,387 | $1.2B |
| Texas | 1,051 | $318.3M |
| Florida | 691 | $238.1M |
| New York | 685 | $165.4M |
| Illinois | 504 | $163.9M |
Talk to PeerSense about SBA capital for an auto body shop.
Tell us your loan amount and use of funds. PeerSense sources capital for an auto body shop, anywhere in the US.
SBA 7(a) / 504, Auto Body & Collision Shops: The desk will reach out. No obligation.
How auto body & collision shops qualify for an SBA loan
SBA 7(a) loans are the most common path for auto body & collision shops financing acquiring a collision or body shop. They run up to $5M, fund up to 90% of a project, and amortize over 10 years for a business purchase or up to 25 years when real estate is included. SBA 504 loans pair a bank loan with a CDC debenture for owner occupied real estate and heavy equipment, typically at 10% down.
With 13,969 loans on record across 1,386 lenders and a 12.9% historical charge off rate, auto body & collision shops are a well understood credit to SBA lenders, but not every lender is active in this profession or comfortable with its deal structure. PeerSense reads the lending history and sources capital through a curated network, then stays with you through closing.