Buying a Midas franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 47 7(a) loans to buy an existing Midas (classified mostly as General Automotive Repair), totaling $38.1M. The median loan was $450,000, 30% lower than the $645,250 median for all SBA-financed acquisitions. 4 of these loans were approved in the last two fiscal years.
- Loans, FY2018-FY2026
- 47
- Median loan
- $450,000 (middle half $307,550 to $960,650)
- Top lender
- Live Oak Banking Company (51%, 24 loans)
- Top state
- California
- Charge-off, FY2018-FY2021 loans
- 0.0% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 2
SBA lenders approved 47 7(a) loans to buy an existing Midas from FY2018-FY2026, with a median of $450,000 and a middle half of $307,550 to $960,650. Live Oak Banking Company made 51% of them. None of 25 seasoned loans were charged off, against the 3.5% all-acquisition rate.
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 Midas resale loans landed between $307,550 and $960,650.
- Lender experience exists. Live Oak Banking Company alone has financed 24 Midas resales.
- Guaranty. The SBA guaranteed 77% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
How Midas compares
| Measure | Midas | General Automotive Repair | All acquisitions |
|---|---|---|---|
| Median loan | $450,000 | $562,500 | $645,250 |
| Middle half of loans | $307,550 to $960,650 | $300,000 to $1,077,400 | $283,000 to $1,465,000 |
| Average initial rate | 7.12% | 7.87% | 7.76% |
| Median term | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 0.0% | 4.4% | 3.5% |
| Loans in sample | 47 | 1,089 | 48,902 |
The median for Midas resale loans is $450,000, below the $562,500 median for general automotive repair and below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $307,550 to $960,650, against $283,000 to $1,465,000 nationally; the median term is 10 years, the same as the national median; the average initial rate is 7.12%, below the 7.76% national average.
None of the seasoned loans were charged off, against 4.4% for general automotive repair and 3.5% for all acquisition loans.
Loan size distribution
| Loan size | Midas | All acquisitions |
|---|---|---|
| Under $350K | 32% | 30% |
| $350K to under $1M | 45% | 33% |
| $1M to under $2M | 15% | 19% |
| $2M and over | 9% | 17% |
Most Midas resale loans (77%) were under $1M, and the largest single band is $350K to under $1M at 45%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Live Oak Banking Company made 51% of Midas resale loans, and the top three lenders together made 60%. 1 of the 19 lenders involved made three or more. Only 1 lender has repeat experience here. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 4 Midas resale loans were approved. That is 60% fewer than the 10 approved in FY2023 and FY2024. The median was $1,222,000, well above the $450,000 median across all years.
Financing a Midas resale: what lenders financed
The median SBA 7(a) loan for a Midas resale was $450,000 across 47 loans (FY2018 to FY2026). Live Oak Banking Company, IncredibleBank and Northwest Bank have financed the most Midas resales. Of 25 seasoned loans (FY2018 to FY2021), none were charged off, against the 3.5% average for all SBA acquisition loans.
Midas acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $1M | $250,000 | |
| FY2019 | 7 | $3.2M | $400,000 | |
| FY2020 | 7 | $5.1M | $450,000 | |
| FY2021 | 8 | $5.4M | $634,000 | |
| FY2022 | 8 | $10.7M | $793,500 | |
| FY2023 | 9 | $5M | $430,000 | |
| FY2024 | 1 | $1.5M | $1,506,000 | |
| FY2025 | 2 | $4.5M | $2,243,500 | |
| FY2026 | 2 | $1.7M | $859,250 |
How often do these acquisition loans fail?
Of the 25 Midas acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 13 have already been paid in full.
For comparison, Midas has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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.
The purchase agreement decides what you bought, not the loan approval.
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Lenders financing Midas resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 24 | 51.1% | $24.6M | |
| 2 | IncredibleBank | 2 | 4.3% | $2.8M | |
| 3 | Northwest Bank | 2 | 4.3% | $1.3M | |
| 4 | HomeTrust Bank | 2 | 4.3% | $1.2M | |
| 5 | BNA Bank | 2 | 4.3% | $553K | |
| 6 | Centier Bank | 2 | 4.3% | $360K | |
| 7 | Plains State Bank | 1 | 2.1% | $1.2M | |
| 8 | Wells Fargo Bank National Association | 1 | 2.1% | $952K | |
| 9 | Milestone Bank | 1 | 2.1% | $919K | |
| 10 | The Huntington National Bank | 1 | 2.1% | $846K |
States where Midas units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 8 | 17.0% | $10.5M | |
| 2 | Texas | 6 | 12.8% | $3.3M | |
| 3 | Michigan | 4 | 8.5% | $3.4M | |
| 4 | Indiana | 4 | 8.5% | $2.6M | |
| 5 | Arizona | 3 | 6.4% | $2.5M | |
| 6 | Virginia | 2 | 4.3% | $2.6M | |
| 7 | Iowa | 2 | 4.3% | $1.3M | |
| 8 | Minnesota | 2 | 4.3% | $1.2M | |
| 9 | North Carolina | 2 | 4.3% | $938K | |
| 10 | Massachusetts | 2 | 4.3% | $752K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How lenders classify Midas
Lenders code each loan to a NAICS industry. For Midas the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | General Automotive Repair | 35 | 74.5% | $24.3M | |
| 2 | Automotive Oil Change and Lubrication Shops | 7 | 14.9% | $9.9M | |
| 3 | All Other Automotive Repair and Maintenance | 1 | 2.1% | $2.1M | |
| 4 | General Freight Trucking, Local | 1 | 2.1% | $969K |
Questions buyers ask
How much do buyers borrow to buy a Midas franchise?
The median SBA 7(a) loan for a Midas resale was $450,000 across 47 loans (FY2018 to FY2026). The middle half of loans ran from $307,550 to $960,650. 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 Midas acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Midas (24, 51% of the total). IncredibleBank, Northwest Bank, HomeTrust Bank follow.
What interest rate and term do Midas acquisition loans carry?
The average initial rate at approval was 7.12% (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 Midas resale riskier than other SBA-financed acquisitions?
In the seasoned cohort (FY2018 to FY2021), none charged off, against the 3.5% average for all SBA acquisition loans.
Where are Midas units being bought with SBA loans?
California (8), Texas (6), Michigan (4), Indiana (4), Arizona (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.
How much do you need down for an SBA loan to buy a Midas franchise?
The SBA requires the buyer to make an equity injection, commonly 10% of total project cost, and a lender may ask for more. The SBA file does not record injections, so the figures here are the financed portion: the median for Midas resale loans was $450,000, and the middle half ran $307,550 to $960,650.
How long does an SBA acquisition loan take?
For a change-of-ownership 7(a) loan, 45 to 90 days from application to close is typical. It varies by lender and by how quickly third-party reports, such as the business valuation and appraisal, come back. The SBA file records approval dates, not application dates, so this site cannot measure it. Lenders approved 4 Midas resale loans in FY2025 and FY2026.
Which banks make SBA loans for a Midas franchise?
By loan count, FY2018 to FY2026: Live Oak Banking Company (24), IncredibleBank (2), Northwest Bank (2), HomeTrust Bank (2), BNA Bank (2). Live Oak Banking Company made 51% of Midas resale loans. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All General Automotive Repair acquisitions
- California acquisitions
- Texas acquisitions
- Michigan acquisitions
- Live Oak Banking Company
- IncredibleBank
- Northwest Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Midas" (franchise code S1110). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.
Cite this data
SBA Acquisition Data, "Midas: SBA acquisition loan data", https://sbaacquisitiondata.com/franchise/midas (data as of September 30, 2026). Source: U.S. Small Business Administration 7(a) loan file, data.sba.gov. Aggregated by SBA Acquisition Data.
The figures on this page are also published as JSON at https://sbaacquisitiondata.com/data/franchise/midas.json.