Automotive Oil Change and Lubrication Shops: SBA business acquisition loan data
96 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Automotive Oil Change and Lubrication Shops (NAICS 811191), totaling $98.9M. Median loan $723,850, 12% higher than the all-acquisition median. 49% of these deals were franchised units.
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $1,345,000 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.2% of all SBA-financed business purchases, ranking #101 of 300 industries tracked.
- Geography. Texas leads with 20 loans; the top five states account for 54% of the industry's acquisitions.
- Jobs. Lenders reported 1,268 jobs supported across these loans, about 13.2 per acquisition, a rough proxy for the size of business changing hands.
Automotive Oil Change and Lubrication Shops acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 7 | $6.5M | $535,100 | |
| FY2019 | 15 | $14M | $494,000 | |
| FY2020 | 11 | $9.4M | $642,600 | |
| FY2021 | 16 | $22.1M | $875,000 | |
| FY2022 | 14 | $12.7M | $504,500 | |
| FY2023 | 9 | $8.1M | $900,000 | |
| FY2024 | 4 | $2.3M | $572,850 | |
| FY2025 | 12 | $15M | $1,202,500 | |
| FY2026 | 8 | $8.9M | $533,500 |
How often do these acquisition loans fail?
Of the 49 Automotive Oil Change and Lubrication Shops 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. 19 have already been paid in full.
For comparison, Automotive Oil Change and Lubrication Shops 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.
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Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 20 | 20.8% | $27.5M | |
| 2 | California | 11 | 11.5% | $15.9M | |
| 3 | North Carolina | 8 | 8.3% | $8.7M | |
| 4 | Colorado | 7 | 7.3% | $3.9M | |
| 5 | Florida | 6 | 6.3% | $4.5M | |
| 6 | South Carolina | 4 | 4.2% | $2M | |
| 7 | Mississippi | 3 | 3.1% | $4.4M | |
| 8 | Kansas | 3 | 3.1% | $3.2M | |
| 9 | Indiana | 3 | 3.1% | $1.4M | |
| 10 | Michigan | 3 | 3.1% | $1.1M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 40 | 41.7% | $48.8M | |
| 2 | Celtic Bank Corporation | 3 | 3.1% | $5.4M | |
| 3 | Wells Fargo Bank National Association | 3 | 3.1% | $2.3M | |
| 4 | The Huntington National Bank | 3 | 3.1% | $2.2M | |
| 5 | Heritage Bank | 2 | 2.1% | $2.6M | |
| 6 | The Bancorp Bank National Association | 2 | 2.1% | $2.3M | |
| 7 | FNB Bank | 2 | 2.1% | $720K | |
| 8 | Centier Bank | 2 | 2.1% | $360K | |
| 9 | Newtek Small Business Finance, LLC | 1 | 1.0% | $3.9M | |
| 10 | American Momentum Bank | 1 | 1.0% | $3.2M |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands in Automotive Oil Change and Lubrication Shops
49% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Grease Monkey | 14 | 29.8% | $10.8M | |
| 2 | Strickland Brothers 10 Minute Oil Change | 13 | 27.7% | $15.3M | |
| 3 | Midas | 7 | 14.9% | $9.9M | |
| 4 | Meineke Car Care Center | 1 | 2.1% | $490K |
Questions buyers ask
How much is a typical SBA loan to buy a business in Automotive Oil Change and Lubrication Shops?
Median $723,850 across 96 acquisition loans (FY2018 to FY2026); the middle half ran $350,000 to $1,345,000. That is 12% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Automotive Oil Change and Lubrication Shops acquisitions?
Live Oak Banking Company (40), Celtic Bank Corporation (3), Wells Fargo Bank National Association (3), The Huntington National Bank (3), Heritage Bank (2).
Are businesses in Automotive Oil Change and Lubrication Shops often franchised?
Yes, often. 49% of SBA acquisition loans in this industry financed a franchised unit. Top brands: Grease Monkey, Strickland Brothers 10 Minute Oil Change, Midas, Meineke Car Care Center.
How risky are SBA loans for buying a business in Automotive Oil Change and Lubrication Shops?
Of 49 seasoned loans (FY2018 to FY2021), none charged off, against the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Automotive Oil Change and Lubrication Shops acquisitions?
Median term 10 years, average initial rate 7.23% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
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