Auto Repair Shop Feasibility Study in the Portland-South Portland, ME Metro Area

Auto repair in the Portland, Maine area

Counting classes in the Portland-South Portland, ME area, automotive mechanical repair finishes 8 of 39, and across the country the area is 59 of 660 for it. The window from FY2017 to FY2026 holds 34 approved loans worth $7.2 million. A location quotient of 0.95x is slightly under parity, so repair shops make up a share of local loans close to the national share. Against the class's national median, the area's $150,000 median loan stands at 0.64x: shop loans here run noticeably smaller than shop loans elsewhere.

Small tickets, programs and holders

A band from $30,625 to $289,000 contains the middle half of loans, which suggests equipment packages, working capital and modest improvements rather than building purchases. Of the program counts, SBA 7(a) has 26 and SBA 504 has 8. Cumberland County, ME records 18 of them. Holder detail is limited to TD Bank, National Association: 7 SBA 7(a) loans today, $378,000 in all, a modest sum per loan that suits the typical ticket. The franchise share is withheld.

Only FY2019 is printed, and its entry is 0 loans and $0: the area approved no automotive repair loan in that fiscal year. All other years are out of view because too few loans lie behind them. For Portland shops, Loan Analytics also withholds the rates for cancellation and charge-off, as its cohort is below the minimum of 30 loans. Hidden values are not zeros, and a gap is no evidence of a trend. A reader looking for momentum in this area will not find it on this page, and should weigh the lender's own view of local shop volumes instead.

Limits, and what a study for a shop here must test

Portland's class cannot pull truck service away from car repair, and it excludes collision and paint shops, interiors, glass and oil changes as well as the catch-all group of other automotive repair. Portland membership depends on the county of the project being on the July 2023 area list. A shop study here should test how many vehicles a realistic service radius can supply, technician availability, bay count, and equipment cost against a typical loan near $150,000, plus the seasonal swing in work. Cover the debt payment in a slow quarter, and where real property is financed, the appraisal has to separate it from the business.