Auto Repair Shop Feasibility Study in the Miami-Fort Lauderdale-West Palm Beach, FL Metro Area

Miami against the national picture

Between FY2017 to FY2026, borrowers starting or acquiring car and truck repair shops in Miami were given 176 loans with $80.7 million in gross dollars. Compared with the nation, auto repair shops fill a smaller place of Miami lending, a location quotient of 0.57x. By rank, Miami is 14 of 660 among metro and micro areas, and automotive repair shops come eighth out of the 39 classes counted for Miami. Miami's median loan, $150,000, comes to 0.64x the class median nationwide. The middle half of borrowers drew amounts between $50,000 and $498,500.

Program mix and lenders for auto repair shops

Franchise-affiliated applicants make up 5.1% of auto repair loans here. Of the 176 approvals, 155 are 7(a) loans and 21 are 504 loans, so most of the repair projects here took the 7(a) route rather than 504. On the 504 side, in plain terms, Florida Business Development Corporation tops the list among car and truck repair shops in Miami with 10 loans and $6.6 million. TD Bank, National Association holds the most 7(a) loans, 63 of them; Newtek Bank, National Association comes next at 16, and Live Oak Banking Company is third at 9. Treat the lender names as a file from SBA of who stays the loan at present: they say where the paper lies, not what is required of an applicant in Miami.

The county and annual pattern around Miami

69 loans sit in Miami-Dade County, FL, 63 in Broward County, FL and 44 in Palm Beach County, FL. The yearly record peaks in FY2025 at 32 loans and $25.3 million, and bottoms out in FY2020 at 10 loans and $4.2 million.

What the loss and cancellation floors permit a reader to say

Miami is best read as a county-based number: SBA's project county, as a matter of record, matched by name to July 2023 areas, decides inclusion for car and truck repair shops. Inside disbursed loans of FY2017 to FY2021 (70 in Miami), 17.1% have been charged off so far, a lower bound, with no five-year rate printed. Truck repair shares the car repair code, and shops for bodywork, paint, glass, interiors and oil changes sit outside the Miami class. Looking at cancellations, Miami automotive repair shops record 13.6% for loans of FY2017 to FY2024, a minimum, and no upper figure is printed.

Testing a auto repair shops project in Miami

Any feasibility work on car and truck repair shops in Miami begins with demand: routine against larger repairs, and shop bay count and fill. The 176 approvals file funding of the class in Miami; they do not print a given site clears the same bar. Next, Miami auto repair shops need a coverage ratio that holds during a sluggish opening, as a matter of record, because the cancellation and charge-off floors reveal that not all approved loan performs. The decision to lend belongs to institutions, not studies; a study for auto repair shops in Miami provides the work a lender can weigh against this record. The budget covers building and bay buildout as well as lifts and diagnostic tools, and the auto repair total should be read against the central half of Miami loans, $50,000 to $498,500. Value questions for auto repair shops in Miami include soil and tank history and earnings tied to a few technicians.