Buying a Meineke Car Care Center franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 28 7(a) loans to buy an existing Meineke Car Care Center (classified mostly as General Automotive Repair), totaling $23M. The median loan was $523,000, 19% lower than the $645,250 median for all SBA-financed acquisitions. 4 of these loans were approved in the last two fiscal years.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Meineke Car Care Center resale loans landed between $387,500 and $1,106,250.
- Lender experience exists. Live Oak Banking Company alone has financed 10 Meineke Car Care Center resales.
- Guaranty. The SBA guaranteed 74% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Meineke Car Care Center resale
The median SBA 7(a) loan for a Meineke Car Care Center resale was $523,000 across 28 loans (FY2018 to FY2026). Live Oak Banking Company, First Oklahoma Bank and Stearns Bank National Association have financed the most Meineke Car Care Center 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%.
Meineke Car Care Center acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $1.7M | $150,000 | |
| FY2019 | 4 | $4.1M | $925,000 | |
| FY2020 | 4 | $2M | $375,000 | |
| FY2021 | 6 | $4.7M | $495,850 | |
| FY2022 | 3 | $3.1M | $695,000 | |
| FY2023 | 2 | $810K | $405,000 | |
| FY2024 | 2 | $781K | $390,500 | |
| FY2025 | 1 | $1M | $1,026,000 | |
| FY2026 | 3 | $4.8M | $524,000 |
How often do these acquisition loans fail?
Fewer than 20 Meineke Car Care Center 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.
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Lenders financing Meineke Car Care Center resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 10 | 35.7% | $10M | |
| 2 | First Oklahoma Bank | 2 | 7.1% | $2M | |
| 3 | Stearns Bank National Association | 2 | 7.1% | $500K | |
| 4 | First Savings Bank | 2 | 7.1% | $296K | |
| 5 | The Bancorp Bank National Association | 1 | 3.6% | $3.8M | |
| 6 | Celtic Bank Corporation | 1 | 3.6% | $1.7M | |
| 7 | Frost Bank | 1 | 3.6% | $1.1M | |
| 8 | U.S. Bank, National Association | 1 | 3.6% | $552K | |
| 9 | Wells Fargo Bank National Association | 1 | 3.6% | $524K | |
| 10 | Locus Bank Inc | 1 | 3.6% | $490K |
States where Meineke Car Care Center units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Illinois | 5 | 17.9% | $5.6M | |
| 2 | Virginia | 4 | 14.3% | $2.5M | |
| 3 | California | 3 | 10.7% | $2.4M | |
| 4 | North Carolina | 3 | 10.7% | $2.3M | |
| 5 | Nevada | 3 | 10.7% | $596K | |
| 6 | New Jersey | 2 | 7.1% | $4.1M | |
| 7 | Oklahoma | 2 | 7.1% | $2M | |
| 8 | Texas | 2 | 7.1% | $1.6M | |
| 9 | Florida | 1 | 3.6% | $522K | |
| 10 | South Dakota | 1 | 3.6% | $467K |
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify Meineke Car Care Center
Lenders code each loan to a NAICS industry. For Meineke Car Care Center the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | General Automotive Repair | 26 | 92.9% | $22.2M | |
| 2 | Automotive Oil Change and Lubrication Shops | 1 | 3.6% | $490K | |
| 3 | All Other Automotive Repair and Maintenance | 1 | 3.6% | $288K |
Questions buyers ask
How much do buyers borrow to buy a Meineke Car Care Center franchise?
The median SBA 7(a) loan for a Meineke Car Care Center resale was $523,000 across 28 loans (FY2018 to FY2026). The middle half of loans ran from $387,500 to $1,106,250. 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 Meineke Car Care Center acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Meineke Car Care Center (10, 36% of the total). First Oklahoma Bank, Stearns Bank National Association, First Savings Bank follow.
What interest rate and term do Meineke Car Care Center acquisition loans carry?
The average initial rate at approval was 6.95% (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 Meineke Car Care Center resale riskier than other SBA-financed acquisitions?
Too few Meineke Car Care Center 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 Meineke Car Care Center units being bought with SBA loans?
Illinois (5), Virginia (4), California (3), North Carolina (3), Nevada (3). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All General Automotive Repair acquisitions
- Illinois acquisitions
- Virginia acquisitions
- California acquisitions
- Live Oak Banking Company
- First Oklahoma Bank
- Stearns Bank National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Meineke Car Care Center" (franchise code S1101). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.