Buying a Carquest Auto Parts franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Carquest Auto Parts (classified mostly as Automotive Parts and Accessories Stores), totaling $2M. The median loan was $360,000, 44% lower than the $645,250 median for all SBA-financed acquisitions.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Carquest Auto Parts resale loans landed between $324,000 and $486,000.
- Lender experience exists. Superior National Bank alone has financed 2 Carquest Auto Parts resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Carquest Auto Parts resale
The median SBA 7(a) loan for a Carquest Auto Parts resale was $360,000 across 5 loans (FY2018 to FY2026). Superior National Bank, Stockman Bank of Montana and Northern Bank and Trust Company have financed the most Carquest Auto Parts resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Carquest Auto Parts acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $360K | $360,000 | |
| FY2020 | 2 | $810K | $405,000 | |
| FY2021 | 1 | $536K | $535,500 | |
| FY2022 | 1 | $300K | $300,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Carquest Auto Parts acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Seller note standby terms and third-party consents are reviewed before closing.
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Lenders financing Carquest Auto Parts resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Superior National Bank | 2 | 40.0% | $810K | |
| 2 | Stockman Bank of Montana | 1 | 20.0% | $536K | |
| 3 | Northern Bank and Trust Company | 1 | 20.0% | $360K | |
| 4 | Lincoln Savings Bank | 1 | 20.0% | $300K |
States where Carquest Auto Parts units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Michigan | 2 | 40.0% | $810K | |
| 2 | Montana | 1 | 20.0% | $536K | |
| 3 | Massachusetts | 1 | 20.0% | $360K | |
| 4 | Iowa | 1 | 20.0% | $300K |
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify Carquest Auto Parts
Lenders code each loan to a NAICS industry. For Carquest Auto Parts the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Automotive Parts and Accessories Stores | 4 | 80.0% | $1.7M | |
| 2 | Automotive Parts and Accessories Retailers | 1 | 20.0% | $300K |
Questions buyers ask
How much do buyers borrow to buy a Carquest Auto Parts franchise?
The median SBA 7(a) loan for a Carquest Auto Parts resale was $360,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $324,000 to $486,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Carquest Auto Parts acquisitions?
Superior National Bank has made the most SBA acquisition loans for Carquest Auto Parts (2, 40% of the total). Stockman Bank of Montana, Northern Bank and Trust Company, Lincoln Savings Bank follow.
What interest rate and term do Carquest Auto Parts acquisition loans carry?
The average initial rate at approval was 5.74% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Carquest Auto Parts resale riskier than other SBA-financed acquisitions?
Too few Carquest Auto Parts acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Carquest Auto Parts units being bought with SBA loans?
Michigan (2), Montana (1), Massachusetts (1), Iowa (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Automotive Parts and Accessories Stores acquisitions
- Michigan acquisitions
- Montana acquisitions
- Massachusetts acquisitions
- Lincoln Savings Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Carquest Auto Parts" (franchise code S2343). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.