General Automotive Repair acquisitions in South Carolina: SBA loan data
Since FY2018, SBA lenders have approved 21 7(a) loans to buy an existing business classified as General Automotive Repair in South Carolina, totaling $17.2M. The median loan was $748,000. That is 3.1% of the 683 acquisition loans in South Carolina.
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 South Carolina is in line with the $755,000 median for all South Carolina acquisitions, and 33% higher 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 4.5% of seasoned South Carolina acquisition loans of any type.
General Automotive Repair acquisition loans in South Carolina by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 2 | $1.1M | $572,500 | |
| FY2020 | 2 | $2.4M | $1,218,500 | |
| FY2021 | 1 | $841K | $840,500 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 4 | $3.1M | $824,500 | |
| FY2024 | 3 | $2.5M | $700,000 | |
| FY2025 | 7 | $4.9M | $748,000 | |
| FY2026 | 2 | $2.1M | $1,056,000 |
How often do these acquisition loans fail?
Fewer than 20 General Automotive Repair in South 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.
The purchase agreement decides what you bought, not the loan approval.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | VelocitySBA, LLC | 3 | 14.3% | $2.2M | |
| 2 | Live Oak Banking Company | 3 | 14.3% | $1.8M | |
| 3 | First-Citizens Bank & Trust Company | 2 | 9.5% | $2.1M | |
| 4 | Pinnacle Bank | 2 | 9.5% | $2.1M | |
| 5 | First National Bank of Pennsylvania | 2 | 9.5% | $1.5M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Midas | 1 | 4.8% | $345K |
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Questions buyers ask
How much do SBA loans for General Automotive Repair acquisitions in South Carolina run?
The median SBA 7(a) loan was $748,000 across 21 loans (FY2018 to FY2026), with the middle half between $443,000 and $1,198,500. 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 South Carolina?
VelocitySBA, LLC (3), Live Oak Banking Company (3), First-Citizens Bank & Trust Company (2), Pinnacle Bank (2), First National Bank of Pennsylvania (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 South 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 South Carolina?
1 of the 21 loans (5%) involved a franchise brand, most often Midas (1).
Seller note standby terms and third-party consents are reviewed before closing.
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Small samples move a lot: each loan in this combination is 5% of the count. Industry is the NAICS code the lender recorded. See the methodology.