General Automotive Repair acquisitions in Ohio: SBA loan data
Since FY2018, SBA lenders have approved 29 7(a) loans to buy an existing business classified as General Automotive Repair in Ohio, totaling $15.3M. The median loan was $278,800. That is 1.6% of the 1,821 acquisition loans in Ohio.
Terms signed in the LOI shape the purchase agreement that follows.
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How this compares
The median General Automotive Repair loan in Ohio is 49% lower than the $549,000 median for all Ohio acquisitions, and 50% 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 Ohio acquisition loans of any type.
General Automotive Repair acquisition loans in Ohio by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $742K | $371,200 | |
| FY2019 | 5 | $6.6M | $350,000 | |
| FY2020 | 3 | $1.1M | $188,200 | |
| FY2021 | 1 | $256K | $255,500 | |
| FY2022 | 1 | $436K | $435,500 | |
| FY2023 | 4 | $1.4M | $250,350 | |
| FY2024 | 1 | $610K | $610,000 | |
| FY2025 | 5 | $1.9M | $75,000 | |
| FY2026 | 7 | $2.3M | $278,800 |
How often do these acquisition loans fail?
Fewer than 20 General Automotive Repair in Ohio 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 | The Huntington National Bank | 11 | 37.9% | $3.4M | |
| 2 | Live Oak Banking Company | 3 | 10.3% | $1.7M | |
| 3 | First Commonwealth Bank | 3 | 10.3% | $913K | |
| 4 | Fifth Third Bank | 3 | 10.3% | $830K | |
| 5 | Stearns Bank National Association | 1 | 3.4% | $5M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Meineke Car Care Center | 1 | 3.4% | $436K | |
| 2 | Tuffy Tire & Auto Service | 1 | 3.4% | $233K |
Seller note standby terms and third-party consents are reviewed before closing.
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Questions buyers ask
How much do SBA loans for General Automotive Repair acquisitions in Ohio run?
The median SBA 7(a) loan was $278,800 across 29 loans (FY2018 to FY2026), with the middle half between $188,200 and $512,000. 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 Ohio?
The Huntington National Bank (11), Live Oak Banking Company (3), First Commonwealth Bank (3), Fifth Third Bank (3), Stearns Bank National Association (1). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do General Automotive Repair acquisition loans fail in Ohio?
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 Ohio?
3 of the 29 loans (10%) involved a franchise brand, most often Meineke Car Care Center (1).
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- All Ohio acquisitions
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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.