Auto Repair Shop Feasibility Study in the Albany-Schenectady-Troy, NY Metro Area

Small loans in a repair class

In Albany-Schenectady-Troy, automotive mechanical repair (car and truck) loans stand at 6 of 39 on Albany-Schenectady-Troy's own class list, and Albany-Schenectady-Troy is 69 of 660 on the national list for them. SBA approved 27 loans worth $10.5 million from FY2017 to FY2026, with 14 in Albany County and 6 in Saratoga County. In Albany-Schenectady-Troy, automotive mechanical repair (car and truck) loans hold a lighter slice of SBA lending than they do countrywide, at 0.95x. The median loan of $75,000 is merely 0.32x the national median across mechanical repair.

$25,000 marks the lower quartile and $317,000 the upper; the bottom is very small, so the Albany-Schenectady-Troy cell mixes tiny working-capital loans with larger packages. The program split and Albany-Schenectady-Troy's franchise share are not printed. SBA's data in Albany-Schenectady-Troy leaves out how the Albany-Schenectady-Troy loans split between 7(a) and 504 for Albany-Schenectady-Troy. Albany-Schenectady-Troy supplies merely loans that SBA recorded for automotive mechanical repair (car and truck), so counts for Albany-Schenectady-Troy say nothing about plans financed in Albany-Schenectady-Troy some other way.

A holder and the years shown

Holder of 5 7(a) loans worth $225,900: Beacon Bank and Trust. SBA names the current holder and nothing on lending practice. Rows appear for six years: FY2017 with 5 loans and $943,900, no loans worth $0 in FY2019, FY2020 brings 5 loans and $5.0 million, no loans worth $0 in FY2021, 5 loans worth $480,000 in FY2024 and FY2025 brings no loans and $0. The sums per loan swing widely, a sign of a few big loans amid many small ones. We do not print Albany-Schenectady-Troy's two loss-side rates as the Albany-Schenectady-Troy FY2017 to FY2021 set of loans counts fewer than 30 loans, a count our cut-off cannot publish for Albany-Schenectady-Troy. A missing rate in Albany-Schenectady-Troy does not mean none.

Two limits of the code matter. One code covers truck repair shops together with car repair, which hides the truck side. Shops whose main business is body and paint work, interiors, glass or oil changes belong to other classes, so a general garage that does that work is merely partly visible in this class.

Albany-Schenectady-Troy: questions a study must answer

An Albany area repair plan should be sized in bays and technicians, with services tied to tooling cost and a source of skilled labour named. Test the payment on a loan near the small $75,000 median and on one near the Albany-Schenectady-Troy band's upper edge, with a slow build-up. If the building is part of the plan, its cost needs an appraisal of its own. The federal delineation draws Albany-Schenectady-Troy; and loans from counties Albany-Schenectady-Troy cannot match stay left out of its totals.