Auto Repair Shop Feasibility Study in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area

Philadelphia: car and truck repair shop

230 car and truck repair shop loans, worth $85.1 million, were approved in Philadelphia, FY2017 to FY2026. Among metro areas Philadelphia stands 8 of 660 on 230 loans, and in Philadelphia the class stands 5 of 39. Philadelphia's quotient of 1.07x makes the class somewhat more common. $150,000 tracks Philadelphia's parents; ranks and the 1.07x quotient do the distinguishing.

$150,000 in Philadelphia runs well below the national median (0.64x) across 230 loans. Half the loans in Philadelphia fall between $50,000 and $489,625. The split is 218 under 7(a) and 12 under 504, the routes Philadelphia peers took. Franchisees hold 9.1% of Philadelphia's 230 loans.

Philadelphia's 7(a) table, 44 loans with TD Bank, National Association, $3.0 million; 23 with Manufacturers and Traders Trust Company, $1.8 million; 14 with Meridian Bank, $11.4 million; 10 with The Huntington National Bank, $5.9 million; 8 with Wilmington Savings Fund Society FSB, $4.3 million. Philadelphia: holders under 5 loans stay unnamed. Philadelphia by county, 230 loans: Bucks County, PA 34; Chester County, PA 33; Philadelphia County, PA 32; Montgomery County, PA 27; Delaware County, PA 26; New Castle County, DE 22; Burlington County, NJ 19; Camden County, NJ 19; Gloucester County, NJ 11.

How Philadelphia loans fared

Of Philadelphia's FY2017 to FY2024 approvals, at least 14.5% were cancelled after approval; 14.5% if undisbursed loans count. Of 84 loans disbursed from FY2017 to FY2021, 8.3% or more are charged off. In Philadelphia, five-year charge-offs: withheld, not zero. Philadelphia open loans can still raise floors. Philadelphia's yearly count peaked at 33 loans and $19.5 million in FY2026; its low was 15 in FY2019; FY2026 shows 33 loans and $19.5 million. By year, Philadelphia counts: FY2017 24, FY2018 25, FY2019 15, FY2020 15, FY2021 22, FY2022 23, FY2023 18, FY2024 23, FY2025 32, FY2026 33. Gross dollars by year: FY2017 $7.0 million, FY2018 $2.7 million, FY2019 $2.3 million, FY2020 $5.5 million, FY2021 $12.1 million, FY2022 $6.8 million, FY2023 $3.8 million, FY2024 $8.7 million, FY2025 $16.7 million, FY2026 $19.5 million.

Philadelphia: what a study must test

Philadelphia saw approvals run from 15 in FY2019 to 33 in FY2026; for Philadelphia, plan for slow seasons. Philadelphia's quotient, 1.07x: count rivals by turnaround. Across 230 loans, bay hours in Philadelphia carries $150,000. Philadelphia: facing slow seasons, debt service holds with $85.1 million approved. For 230 loans in Philadelphia, lift costs outside $50,000 to $489,625 need cases. For 230 approvals in Philadelphia, appraisers ask about contamination.

Philadelphia's 230 loans mix truck and car repair. Philadelphia placed 230 loans by project county. Philadelphia uses the July 2023 delineation by name. Philadelphia omits loans from unmatched counties. These 230 loans guide a view of Philadelphia; they are no census.