Auto Repair Shop Feasibility Study in the Indianapolis-Carmel-Greenwood, IN Metro Area

Where Indianapolis stands for this class

Volume in Indianapolis reaches 95 approved loans for automotive repair shops, valued at $37.8 million in gross dollars, among the FY2017 to FY2026 file. In rank terms, Indianapolis is 26 of 660 over metro and micro areas, and auto repair is the sixth-largest of the 39 classes the area lends to. The typical borrower drew from $50,000 up to $481,750. Local sizing is anchored by $150,000; compared with the class's national median, on this record, that is a ratio of 0.64x, so approvals run smaller here. A location quotient of 0.90x, says car and truck repair shops make up a smaller portion of Indianapolis loans compared with the country overall.

Program mix and lenders for car and truck repair shops

For auto repair shops in Indianapolis the program mix is held back, since a single program has too few Indianapolis approvals to publish. 14.7% of the Indianapolis approvals went to franchised businesses. Among 7(a) lenders in Indianapolis, Live Oak Banking Company (7 approvals, $6.6 million), then First Financial Bank (OH) (5). No 504 lender is listed for car and truck repair shops in Indianapolis on this page. Since SBA credits each loan to its current holder, as reported, the names for Indianapolis show where the loans are held; they should not be judged as a view of how any lender decides.

Where in Indianapolis and when

40 approvals sit in Marion County, IN, 22 in Hamilton County, IN and 9 in Hendricks County, IN. Volume was highest in FY2018, with 16 loans worth $7.4 million, and lowest in FY2020, with 7 loans worth $2.0 million. FY2022 and FY2024 show no counts or dollars here, since Loan Analytics withholds any year resting on very few loans, and an empty year is not one without approvals.

Indianapolis cancellations, losses and county lines

Indianapolis has too small a funded cohort of automotive repair shops from those years for a loss rate; the rate is suppressed, which is not a zero. On cancellations, Indianapolis car and truck repair shops show 13.5%, a lower bound, in practice, across the FY2017 to FY2024 approvals; the ceiling is suppressed. The Indianapolis figures are built from counties: each loan enters through the project county SBA records, tied to the July 2023 metro areas by county name. Truck service is counted together with car repair, and the Indianapolis class leaves out body, paint, glass, interior and oil-change outlets.

Testing an auto repair shop project in Indianapolis

A feasibility study for car and truck repair shops in Indianapolis opens with demand: independents, dealers and chains, and vehicles in service nearby. The 95 approvals are proof that institutions have funded the class in Indianapolis; they do not show that a single site clears the same bar. Appraisal questions for car and truck repair shops in Indianapolis include soil and tank history and equipment against real estate. Cost comes next, counting technician pay, the scarce input and building and bay buildout, weighed against the Indianapolis median loan of $150,000. Debt service coverage then has to survive an opening slower than planned, since some Indianapolis loans fell during and some were charged off.