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NAICS 441120 · Retail
SBA loans for used car dealers
4,422 SBA loans worth $2.06B have been approved in this industry since FY2010 - the #52 most-financed NAICS code in the country.
Median loan
$227,750
+27% vs all industries
Typical range
$10K-$1.2M
Middle 80%
Median rate
7.75%
7(a) initial note rate
Median term
10 yr
Charge-off rate
12.5%
vs 7.6% all industries
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Lenders
Most active in this industry
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Enterprise Bank & Trust | 118 | $124.7M | |
| Newtek Small Business Finance, Inc. | 88 | $71.4M | |
| U.S. Bank | 72 | $67.6M | |
| Harvest Small Business Finance, LLC | 53 | $48.4M | |
| Florida Business Development Corporation | 69 | $48.0M | |
| Mortgage Capital Development Corporation | 47 | $47.7M | |
| Northeast Bank | 214 | $44.0M | |
| Celtic Bank Corporation | 105 | $41.7M | |
| Columbia Bank | 68 | $40.4M | |
| Mountain West Small Business Finance | 59 | $40.2M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| California | 716 | |
| Texas | 496 | |
| Florida | 359 | |
| Utah | 185 | |
| Georgia | 180 | |
| Arizona | 126 | |
| Colorado | 120 | |
| New Jersey | 115 |
An SBA 7(a) lender for loans this size
60% of the SBA loans approved in used car dealers since FY2010 were under $350,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
Approvals by fiscal year
Loan count. Final bar is a partial fiscal year.
Loan sizes
- Under $50K24%
- $50K - $150K15%
- $150K - $350K22%
- $350K - $1M27%
- $1M - $2M9%
- Over $2M4%
Franchise brands in Used Car Dealers
| Franchise brand | Loans | Approved | Share |
|---|---|---|---|
| Ford Motor Company Dealer Sales and Service Agreement | 3 | $6.3M | |
| General Motors, LLC Dealer Sales and Service Agreement | 2 | $1.8M | |
| Mitsubishi Motors Dealer Agreement | 2 | $2.4M | |
| Chrysler | 2 | $2.2M | |
| Ford Motor | 1 | $500K | |
| Napa Auto Parts | 1 | $2.1M |
Brands with the most SBA loans recorded under this NAICS code, among brands with at least 10 loans in the file.
Nearby
Other retail industries
Common questions
- How much do SBA lenders typically lend to a used car dealers business?
- The median SBA approval in NAICS 441120 is $227,750, with the middle 80% of loans between $10,000 and $1,215,500. Across all industries the median is $180,000.
- Which lenders are most active in used car dealers?
- By dollars approved: Enterprise Bank & Trust, Newtek Small Business Finance, Inc., U.S. Bank, Harvest Small Business Finance, LLC, Florida Business Development Corporation. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.
- Is used car dealers considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 12.5% were charged off, versus 7.6% across all SBA lending. That is materially above average, which in practice tends to mean tighter underwriting, more collateral, or a larger equity injection.
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