General Automotive Repair acquisitions in Alabama: SBA loan data
Since FY2018, SBA lenders have approved 11 7(a) loans to buy an existing business classified as General Automotive Repair in Alabama, totaling $6.6M. The median loan was $426,600. That is 2.3% of the 476 acquisition loans in Alabama.
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How this compares
The median General Automotive Repair loan in Alabama is 46% lower than the $787,850 median for all Alabama acquisitions, and 24% lower than the $562,500 median for General Automotive Repair acquisitions nationwide (1,089 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 4.4% of seasoned General Automotive Repair acquisition loans were charged off, and 3.5% of seasoned Alabama acquisition loans of any type.
General Automotive Repair acquisition loans in Alabama by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $114K | $114,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 2 | $316K | $157,750 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $1.9M | $1,884,500 | |
| FY2023 | 1 | $500K | $500,000 | |
| FY2024 | 2 | $979K | $489,500 | |
| FY2025 | 3 | $1.8M | $426,600 | |
| FY2026 | 1 | $986K | $986,300 |
How often do these acquisition loans fail?
Fewer than 20 General Automotive Repair in Alabama 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.
The purchase agreement decides what you bought, not the loan approval.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | BayFirst National Bank | 3 | 27.3% | $1M | |
| 2 | Peoples Bank of Alabama | 2 | 18.2% | $773K | |
| 3 | BankFirst Financial Services | 2 | 18.2% | $316K | |
| 4 | BankPlus | 1 | 9.1% | $1.9M | |
| 5 | First Bank of Central Ohio | 1 | 9.1% | $1.1M |
Top franchise brands
No franchise brands recorded in this combination.
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do SBA loans for General Automotive Repair acquisitions in Alabama run?
The median SBA 7(a) loan was $426,600 across 11 loans (FY2018 to FY2026). 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 General Automotive Repair acquisitions in Alabama?
BayFirst National Bank (3), Peoples Bank of Alabama (2), BankFirst Financial Services (2), BankPlus (1), First Bank of Central Ohio (1).
How often do General Automotive Repair acquisition loans fail in Alabama?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of General Automotive Repair acquisitions in Alabama?
1 of the 11 loans (9%) involved a franchise brand.
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Related
- All Alabama acquisitions
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Small samples move a lot: each loan in this combination is 9% of the count. Industry is the NAICS code the lender recorded. See the methodology.