General Automotive Repair acquisitions in North Carolina: SBA loan data
Since FY2018, SBA lenders have approved 31 7(a) loans to buy an existing business classified as General Automotive Repair in North Carolina, totaling $25.9M. The median loan was $675,000. That is 2.0% of the 1,575 acquisition loans in North Carolina.
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How General Automotive Repair in North Carolina compares
| Measure | General Automotive Repair in... | North Carolina, all industries | General Automotive Repair, nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $675,000 | $800,000 | $562,500 | $645,250 |
| Middle half of loans | $458,500 to $1,207,050 | $350,000 to $1,800,000 | $300,000 to $1,077,400 | $283,000 to $1,465,000 |
| Average initial rate | 8.66% | 7.92% | 7.87% | 7.76% |
| Median term | 10 years | 10 years | 10 years | 10 years |
| Charge-off rate (seasoned loans) | n/a | 2.1% | 4.4% | 3.5% |
| Loans in sample | 31 | 1,575 | 1,089 | 48,902 |
The median for General Automotive Repair acquisition loans in North Carolina is $675,000, below the $800,000 median for all North Carolina acquisitions, above the $562,500 median for General Automotive Repair acquisitions nationwide and in line with the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $458,500 to $1,207,050, 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 8.66%, above the 7.76% national average.
Too few of these loans are old enough to measure a charge-off rate; the national rate for seasoned acquisition loans is 3.5%.
Loan size distribution
| Loan size | General Automotive Repair in... | All acquisitions |
|---|---|---|
| Under $350K | 16% | 30% |
| $350K to under $1M | 48% | 33% |
| $1M to under $2M | 32% | 19% |
| $2M and over | 3% | 17% |
Most General Automotive Repair acquisition loans in North Carolina (65%) were under $1M, and the largest single band is $350K to under $1M at 48%, 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 29% of General Automotive Repair acquisition loans in North Carolina, and the top three lenders together made 55%. 3 of the 15 lenders involved made three or more. Only 3 lenders have 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, 11 General Automotive Repair acquisition loans in North Carolina were approved. Fewer than 10 loans were approved in FY2023 and FY2024, so no change is computed. The median was $1,145,800, well above the $675,000 median across all years.
General Automotive Repair acquisition loans in North Carolina by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $3.2M | $826,200 | |
| FY2019 | 2 | $625K | $312,500 | |
| FY2020 | 2 | $1.2M | $624,600 | |
| FY2021 | 1 | $1.2M | $1,164,100 | |
| FY2022 | 3 | $1.5M | $575,000 | |
| FY2023 | 3 | $2.9M | $950,000 | |
| FY2024 | 5 | $2.9M | $450,000 | |
| FY2025 | 7 | $9M | $1,489,000 | |
| FY2026 | 4 | $3.3M | $710,000 |
How often do these acquisition loans fail?
Fewer than 20 General Automotive Repair in North Carolina 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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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 9 | 29.0% | $6.8M | |
| 2 | The Fidelity Bank | 5 | 16.1% | $5.5M | |
| 3 | First National Bank of Pennsylvania | 3 | 9.7% | $3.1M | |
| 4 | Truliant FCU | 2 | 6.5% | $2.2M | |
| 5 | Bank of Oak Ridge | 2 | 6.5% | $663K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Meineke Car Care Center | 3 | 9.7% | $2.3M | |
| 2 | AAMCO Transmissions and Total Car Care | 2 | 6.5% | $1.1M | |
| 3 | Grease Monkey | 1 | 3.2% | $950K | |
| 4 | Midas | 1 | 3.2% | $600K | |
| 5 | Tuffy Tire & Auto Service | 1 | 3.2% | $575K |
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Questions buyers ask
How much do SBA loans for General Automotive Repair acquisitions in North Carolina run?
The median SBA 7(a) loan was $675,000 across 31 loans (FY2018 to FY2026), with the middle half between $458,500 and $1,207,050. 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 North Carolina?
Live Oak Banking Company (9), The Fidelity Bank (5), First National Bank of Pennsylvania (3), Truliant FCU (2), Bank of Oak Ridge (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 North Carolina?
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 North Carolina?
9 of the 31 loans (29%) involved a franchise brand, most often Meineke Car Care Center (3).
How much do you need down for an SBA loan to buy a General Automotive Repair business in North Carolina?
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 General Automotive Repair acquisition loans in North Carolina was $675,000, and the middle half ran $458,500 to $1,207,050.
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 11 General Automotive Repair acquisition loans in North Carolina in FY2025 and FY2026.
Which banks make SBA loans for a General Automotive Repair business in North Carolina?
By loan count, FY2018 to FY2026: Live Oak Banking Company (9), The Fidelity Bank (5), First National Bank of Pennsylvania (3), Truliant FCU (2), Bank of Oak Ridge (2). Live Oak Banking Company made 29% of General Automotive Repair acquisition loans in North Carolina. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
The purchase agreement decides what you bought, not the loan approval.
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Small samples move a lot: each loan in this combination is 3% of the count. Industry is the NAICS code the lender recorded. See the methodology.
Cite this data
SBA Acquisition Data, "General Automotive Repair in North Carolina: SBA acquisition loan data", https://sbaacquisitiondata.com/state/nc/general-automotive-repair-811111 (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/state/nc/general-automotive-repair-811111.json.