Auto Repair Shop Feasibility Study in the Tulsa, OK Metro Area

Automotive repair around Tulsa

Fifth among Tulsa, OK's classes, automotive mechanical repair has 33 approved loans and $16.7 million behind it in the FY2017 to FY2026 record, and nationally the area is 60 of 660 for the class. The location quotient, 1.13x, shows repair shops a little above their national weight in the local book. A median loan of $419,000 comes to 1.78x the class's national median, so a Tulsa shop loan is usually well above the national typical.

Programs, brands, holders and counties

Tulsa's loans split 28 to SBA 7(a) and 5 to SBA 504, and 21.2% carry a franchise brand. The central half spans $150,000 to $701,000. Tulsa County, OK records 24 loans. Two lenders print for 7(a): First Oklahoma Bank with 9 loans worth $6.8 million, and Arvest Bank with 5 worth $2.8 million. First Oklahoma Bank's holdings are the larger by both count and dollars. These are SBA's records of present holdings.

Annual detail shows FY2022 alone, with 10 loans and $5.4 million, a heavy year within a record of 33 loans. Other years go unshown because few loans stand behind each, which does not mean none. As for repair-shop failures, Tulsa's cohort holds fewer than 30 loans, a level below which Loan Analytics gives out no rate for cancellations or charge-offs. A lender weighing a Tulsa shop loan should therefore ask the borrower for the evidence a rate would have supplied: the owner's record in the trade, the shop's customer base and the condition of its equipment.

Limits, and what a Tulsa shop study must test

In Tulsa truck service is folded together with car repair; collision, finish and upholstery work, glass, oil changes and the catch-all repair group are outside it. Counting a loan as Tulsa depends on its project county appearing on the July 2023 list. A shop study should test the service area's vehicle base, the technicians who will work the bays, the mix of routine and specialised work, and equipment cost. With the typical loan well above the national one, many borrowers also buy or build, so the appraisal must put a separate value on the real estate. The owner's pay belongs inside the numbers, and the debt payment should survive a slow season.