SBA Loans for Auto Repair Shops
34,967 SBA loans have funded auto repair shops nationwide, averaging $257K across 2,052 active SBA lenders, at an average note rate of 7.3%. SBA 7(a) loans up to $5M fund buying an auto repair shop and lifts, diagnostic, and alignment equipment; 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 repair shop.
Published: ·Last updated: ·By Ed Freeman, Capital Advisor. PeerSense
Source: SBA 7(a) and 504 loan records (NAICS 811111), 2000 to present.
34,967
SBA Loans Funded
$257K
Average Loan
7.3%
Avg Note Rate
13 yrs
Avg Term
2,052
Active Lenders
13.8%
Charge Off Rate (resolved loan basis)
What auto repair shops use SBA loans for
Where auto repair shops get SBA financing
| State | SBA Loans | Capital Deployed |
|---|---|---|
| California | 4,934 | $1.8B |
| Texas | 2,725 | $921.5M |
| New York | 1,914 | $329.2M |
| Florida | 1,626 | $499.9M |
| Pennsylvania | 1,525 | $201.5M |
Talk to PeerSense about SBA capital for an auto repair shop.
Tell us your loan amount and use of funds. PeerSense sources capital for an auto repair shop, anywhere in the US.
SBA 7(a) / 504, Auto Repair Shops: The desk will reach out. No obligation.
How auto repair shops qualify for an SBA loan
SBA 7(a) loans are the most common path for auto repair shops financing buying an auto repair 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 34,967 loans on record across 2,052 lenders and a 13.8% historical charge off rate, auto repair 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.