General Automotive Repair acquisitions in Nevada: SBA loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing business classified as General Automotive Repair in Nevada, totaling $9M. The median loan was $327,800. That is 4.4% of the 388 acquisition loans in Nevada.
The purchase agreement decides what you bought, not the loan approval.
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How this compares
The median General Automotive Repair loan in Nevada is 53% lower than the $699,500 median for all Nevada acquisitions, and 42% 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 1.9% of seasoned Nevada acquisition loans of any type.
General Automotive Repair acquisition loans in Nevada by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $140K | $139,500 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 5 | $1.7M | $327,800 | |
| FY2021 | 3 | $1.1M | $300,000 | |
| FY2022 | 1 | $250K | $250,000 | |
| FY2023 | 2 | $1M | $504,500 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $1.8M | $469,000 | |
| FY2026 | 2 | $3.1M | $1,525,000 |
How often do these acquisition loans fail?
Fewer than 20 General Automotive Repair in Nevada 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 | Plumas Bank | 6 | 35.3% | $2.5M | |
| 2 | First Internet Bank of Indiana | 2 | 11.8% | $3.1M | |
| 3 | Live Oak Banking Company | 2 | 11.8% | $1.3M | |
| 4 | First Savings Bank | 2 | 11.8% | $296K | |
| 5 | CDC Small Business Finance Corp. | 2 | 11.8% | $264K |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Meineke Car Care Center | 3 | 17.6% | $596K | |
| 2 | Midas | 1 | 5.9% | $350K |
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Questions buyers ask
How much do SBA loans for General Automotive Repair acquisitions in Nevada run?
The median SBA 7(a) loan was $327,800 across 17 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 Nevada?
Plumas Bank (6), First Internet Bank of Indiana (2), Live Oak Banking Company (2), First Savings Bank (2), CDC Small Business Finance Corp. (2).
How often do General Automotive Repair acquisition loans fail in Nevada?
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 Nevada?
4 of the 17 loans (24%) involved a franchise brand, most often Meineke Car Care Center (3).
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Related
- All Nevada acquisitions
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- General Automotive Repair in Colorado
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Small samples move a lot: each loan in this combination is 6% of the count. Industry is the NAICS code the lender recorded. See the methodology.