General Automotive Repair acquisitions in Minnesota: SBA loan data
Since FY2018, SBA lenders have approved 47 7(a) loans to buy an existing business classified as General Automotive Repair in Minnesota, totaling $22.9M. The median loan was $434,200. That is 2.6% of the 1,778 acquisition loans in Minnesota.
Seller note standby terms and third-party consents are reviewed before closing.
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How this compares
The median General Automotive Repair loan in Minnesota is in line with the $450,000 median for all Minnesota acquisitions, and 23% lower than the $562,500 median for General Automotive Repair acquisitions nationwide (1,089 loans).
On losses, none of the 22 seasoned General Automotive Repair loans in Minnesota were charged off, against the 3.2% rate for all Minnesota acquisitions, and against the 4.4% rate for the industry nationally.
General Automotive Repair acquisition loans in Minnesota by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $558K | $558,000 | |
| FY2019 | 6 | $2.5M | $360,000 | |
| FY2020 | 7 | $2.2M | $178,500 | |
| FY2021 | 8 | $4M | $442,100 | |
| FY2022 | 11 | $5.5M | $378,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 3 | $1.1M | $467,500 | |
| FY2025 | 4 | $2.8M | $357,350 | |
| FY2026 | 7 | $4.3M | $642,000 |
How often do these acquisition loans fail?
Of the 22 General Automotive Repair in Minnesota 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. 7 have already been paid in full.
For comparison, General Automotive Repair in Minnesota 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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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | 21st Century Bank | 3 | 6.4% | $1.7M | |
| 2 | Frandsen Bank and Trust | 3 | 6.4% | $798K | |
| 3 | HomeTrust Bank | 2 | 4.3% | $1.2M | |
| 4 | Wells Fargo Bank National Association | 2 | 4.3% | $1.1M | |
| 5 | Platinum Bank | 2 | 4.3% | $1M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Midas | 2 | 4.3% | $1.2M | |
| 2 | Honest1 Auto Care | 2 | 4.3% | $1.1M | |
| 3 | Christian Brothers Automotive | 1 | 2.1% | $378K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do SBA loans for General Automotive Repair acquisitions in Minnesota run?
The median SBA 7(a) loan was $434,200 across 47 loans (FY2018 to FY2026), with the middle half between $160,750 and $623,000. 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 General Automotive Repair acquisitions in Minnesota?
21st Century Bank (3), Frandsen Bank and Trust (3), HomeTrust Bank (2), Wells Fargo Bank National Association (2), Platinum Bank (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do General Automotive Repair acquisition loans fail in Minnesota?
Of 22 seasoned loans (FY2018 to FY2021), none were charged off, against the 3.5% rate for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of General Automotive Repair acquisitions in Minnesota?
6 of the 47 loans (13%) involved a franchise brand, most often Midas (2).
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Minnesota acquisitions
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- General Automotive Repair in Pennsylvania
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Small samples move a lot: each loan in this combination is 2% of the count. Industry is the NAICS code the lender recorded. See the methodology.