Automotive Body, Paint, and Interior Repair and Maintenance acquisitions in New Jersey: SBA loan data
Since FY2018, SBA lenders have approved 15 7(a) loans to buy an existing business classified as Automotive Body, Paint, and Interior Repair and Maintenance in New Jersey, totaling $17.6M. The median loan was $850,000. That is 1.3% of the 1,130 acquisition loans in New Jersey.
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How this compares
The median Automotive Body, Paint, and Interior Repair and Maintenance loan in New Jersey is 18% higher than the $719,500 median for all New Jersey acquisitions, and 41% higher than the $604,000 median for Automotive Body, Paint, and Interior Repair and Maintenance acquisitions nationwide (297 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 1.6% of seasoned Automotive Body, Paint, and Interior Repair and Maintenance acquisition loans were charged off, and 2.0% of seasoned New Jersey acquisition loans of any type.
Automotive Body, Paint, and Interior Repair and Maintenance acquisition loans in New Jersey by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $470K | $470,000 | |
| FY2019 | 3 | $1.2M | $195,500 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 1 | $849K | $849,000 | |
| FY2022 | 2 | $3.6M | $1,802,500 | |
| FY2023 | 3 | $5.6M | $1,422,000 | |
| FY2024 | 4 | $3M | $792,500 | |
| FY2025 | 1 | $2.9M | $2,896,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Automotive Body, Paint, and Interior Repair and Maintenance in New Jersey 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Columbia Bank | 2 | 13.3% | $3.4M | |
| 2 | First Bank | 2 | 13.3% | $3M | |
| 3 | Hanover Community Bank | 2 | 13.3% | $2.3M | |
| 4 | Peapack Private Bank and Trust | 2 | 13.3% | $2M | |
| 5 | Manufacturers and Traders Trust Company | 2 | 13.3% | $775K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Maaco | 5 | 33.3% | $7.8M |
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Questions buyers ask
How much do SBA loans for Automotive Body, Paint, and Interior Repair and Maintenance acquisitions in New Jersey run?
The median SBA 7(a) loan was $850,000 across 15 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 Automotive Body, Paint, and Interior Repair and Maintenance acquisitions in New Jersey?
Columbia Bank (2), First Bank (2), Hanover Community Bank (2), Peapack Private Bank and Trust (2), Manufacturers and Traders Trust Company (2).
How often do Automotive Body, Paint, and Interior Repair and Maintenance acquisition loans fail in New Jersey?
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 Automotive Body, Paint, and Interior Repair and Maintenance acquisitions in New Jersey?
5 of the 15 loans (33%) involved a franchise brand, most often Maaco (5).
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All New Jersey acquisitions
- Automotive Body, Paint, and Interior Repair and Maintenance nationally
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- Automotive Body, Paint, and Interior Repair and Maintenance in Massachusetts
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Small samples move a lot: each loan in this combination is 7% of the count. Industry is the NAICS code the lender recorded. See the methodology.