Franchise brands › Carstar
Franchise brand65 approvals since FY2016
SBA loans to Carstar franchises
Approvals SBA files under the brand's franchise code. The loans are to independent franchise owners; this page describes the brand in aggregate and no franchisee.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Since FY2016, 65 SBA loan approvals worth $70.7M carry the Carstar franchise code, 37 of them in FY2021 to FY2025.
In FY2025 there were 9. The average approval in the five-year window was $1.3M, and 11 of the approvals were 504 loans.
26 lenders made the FY2021 to FY2025 loans across 13 states; the most active were Mortgage Capital Development Corporation (4), Live Oak Banking Company (4) and The Huntington National Bank (3).
Of loans approved in FY2010 to FY2021 and disbursed, SBA records 0.0% as charged off, below the 6.0% for all SBA loans from those years. The figures describe loans to independent franchise owners, not the franchisor.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Loans by fiscal year
| Fiscal year | Approvals | Dollars approved | Average approval | of which 504 | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 6 | $5.8M | $972K | 2 | 47 |
| FY2025 | 9 | $13.0M | $1.4M | 2 | 173 |
| FY2024 | 3 | $2.4M | $792K | 2 | 25 |
| FY2023 | 4 | $6.8M | $1.7M | 0 | 98 |
| FY2022 | 5 | $6.0M | $1.2M | 2 | 98 |
| FY2021 | 16 | $19.1M | $1.2M | 5 | 154 |
| FY2020 | 9 | $6.6M | $728K | 4 | 93 |
| FY2019 | 3 | $1.2M | $404K | 0 | 10 |
| FY2018 | 9 | $9.2M | $1.0M | 2 | 80 |
| FY2017 | 0 | — | — | 0 | 0 |
| FY2016 | 1 | — | — | 0 | 18 |
SBA's franchise field lists the brand as "Carstar". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Carstar | All SBA loans |
|---|---|---|
| Approvals in these years | 38 | 725,496 |
| Cancelled or never disbursed | 3 | 91,827 |
| Disbursed loans | 35 | 633,669 |
| Paid in full | 15 | 471,304 |
| Charged off | 0 | 37,796 |
| Still outstanding (status exempt from disclosure) | 20 | 124,569 |
| Charged off, share of disbursed loans | 0.0% | 6.0% |
| Dollars charged off, share of disbursed dollars | 0.0% | 2.2% |
| Dollars charged off | $0 | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Mortgage Capital Development CorporationOakland, CA · CDC | 4 | $7.2M | 10.8% | |
| 2 | Live Oak Banking CompanyWilmington, NC | 4 | $4.8M | 10.8% | |
| 3 | The Huntington National BankColumbus, OH | 3 | $1.9M | 8.1% | |
| 4 | SouthState Bank, National AssociationWinter Haven, FL | 2 | — | 5.4% | |
| 5 | First Bank of the LakeOsage Beach, MO | 2 | — | 5.4% | |
| 6 | First Commonwealth BankIndiana, PA | 2 | — | 5.4% | |
| 7 | East West BankPasadena, CA | 1 | — | 2.7% | |
| 8 | The Bancorp Bank National AssociationSioux Falls, SD | 1 | — | 2.7% | |
| 9 | T Bank, National AssociationDallas, TX | 1 | — | 2.7% | |
| 10 | Simmons BankPine Bluff, AR | 1 | — | 2.7% | |
| 11 | Byline BankChicago, IL | 1 | — | 2.7% | |
| 12 | St. Louis BankSt. Louis, MO | 1 | — | 2.7% | |
| 13 | Small Business Growth CorporationSpringfield, IL · CDC | 1 | — | 2.7% | |
| 14 | First BankSouthern Pines, NC | 1 | — | 2.7% | |
| 15 | California Statewide Certified Development CorporationDavis, CA · CDC | 1 | — | 2.7% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | California | 10 | 27.0% | |
| 2 | Texas | 9 | 24.3% | |
| 3 | Georgia | 3 | 8.1% | |
| 4 | Illinois | 2 | 5.4% | |
| 5 | Arizona | 2 | 5.4% | |
| 6 | Florida | 2 | 5.4% | |
| 7 | Ohio | 2 | 5.4% | |
| 8 | New York | 2 | 5.4% | |
| 9 | Minnesota | 1 | 2.7% | |
| 10 | South Carolina | 1 | 2.7% | |
| 11 | Virginia | 1 | 2.7% | |
| 12 | Kansas | 1 | 2.7% | |
| 13 | Nebraska | 1 | 2.7% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Automotive Repair and MaintenanceNAICS 8111 | 37 | 100.0% |
Approval sizes
- $50,000 or less2.7%1
- $50,001 to $150,0008.1%3
- $150,001 to $350,0008.1%3
- $350,001 to $1 million27.0%10
- $1 million to $2 million32.4%12
- Over $2 million21.6%8
Age of the businesses
- Existing, more than 2 years old59.5%22
- New business, 2 years or less2.7%1
- Startup, loan funds will open the business24.3%9
- Change of ownership13.5%5
Questions and answers
How many SBA loans go to Carstar franchises?
65 approvals since FY2016, worth $70.7M; 37 in FY2021 to FY2025.
Which lenders make SBA loans for Carstar franchises?
By approvals in FY2021 to FY2025: Mortgage Capital Development Corporation (4), Live Oak Banking Company (4), The Huntington National Bank (3), SouthState Bank, National Association (2), First Bank of the Lake (2).
How large is a typical SBA loan for a Carstar franchise?
The average approval in FY2021 to FY2025 was $1.3M.
What share of Carstar SBA loans are charged off?
Of 35 disbursed loans approved in FY2010 to FY2021, 0 (0.0%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.
Are SBA loans to Carstar franchises rising?
Approvals in the three latest complete fiscal years total 16, against 30 in the three before: falling (-47%).
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error