Used Car Dealers: SBA acquisition lenders
23 recorded SBA 7(a) acquisition approvals for Used Car Dealers, FY2024–FY2026. Median approved loan: $1.4M. See lenders and activity by state.
- Acquisitions financed
- 23
- Total approved
- $43.6M
- Median loan
- $1.4M
- Middle half of loans
- $384K to $3.2M
- Median starting rate
- 9.50%
- Median term
- 10 yrs
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Lenders financing the most acquisitions in this industry
| # | Lender | Loans | Share | Median loan | Total approved |
|---|---|---|---|---|---|
| 1 | Wilmington Savings Fund Society FSB | 2 | 9% | $595K | $1.2M |
| 2 | Colony Bank | 1 | 4% | $4.8M | $4.8M |
| 3 | Accordia Bank | 1 | 4% | $4.6M | $4.6M |
| 4 | Northwest Bank | 1 | 4% | $4.5M | $4.5M |
| 5 | Celtic Bank Corporation | 1 | 4% | $3.8M | $3.8M |
| 6 | Gulf Coast Bank and Trust Company | 1 | 4% | $3.3M | $3.3M |
| 7 | Beacon Bank and Trust | 1 | 4% | $3.3M | $3.3M |
| 8 | Midwest Regional Bank | 1 | 4% | $3.0M | $3.0M |
| 9 | FDIC - Community Bank & Trust-West Georgia | 1 | 4% | $2.9M | $2.9M |
| 10 | Glacier Bank | 1 | 4% | $2.5M | $2.5M |
| 11 | City National Bank of Florida | 1 | 4% | $1.9M | $1.9M |
| 12 | First Internet Bank of Indiana | 1 | 4% | $1.7M | $1.7M |
| 13 | Port 51 Lending LLC | 1 | 4% | $1.4M | $1.4M |
| 14 | First Bank | 1 | 4% | $1.3M | $1.3M |
| 15 | The Bank of Houston | 1 | 4% | $1.1M | $1.1M |
Activity by state
| State | Loans | Median loan | Total approved |
|---|---|---|---|
| Texas | 3 | $2.5M | $9.0M |
| Florida | 2 | $3.2M | $6.3M |
| Pennsylvania | 2 | $2.5M | $5.0M |
| Illinois | 2 | $2.4M | $4.9M |
| Maryland | 2 | $595K | $1.2M |
| Ohio | 1 | $4.8M | $4.8M |
| Washington | 1 | $4.5M | $4.5M |
| Oregon | 1 | $2.9M | $2.9M |
| Massachusetts | 1 | $1.4M | $1.4M |
| North Carolina | 1 | $1.3M | $1.3M |
| Missouri | 1 | $623K | $623K |
| Michigan | 1 | $400K | $400K |
| Arkansas | 1 | $368K | $368K |
| Wisconsin | 1 | $363K | $363K |
| New Hampshire | 1 | $225K | $225K |
| Iowa | 1 | $160K | $160K |
| Mississippi | 1 | $105K | $105K |