Small Business Loan Car Wash

5 000 000 typical car wash loans range from 2 m to 4 m length of loan.

Small business loan car wash.

Small business administration consider a small business administration sba loan as an alternate source for funding. In a 7a loan a local lender and the sba team up to present the investor with options. How profitable is a car wash. Car wash financing solutions.

Harry a vietnam era veteran established the car wash business in 2003 with his wife. A 7a and a 504. To open a car wash business start by applying for a loan from the small business administration or a bank so you have the 100 000 400 000 usually required to set up a new car wash. The corporation operates a full service family owned car wash and is proud to offer their customers in coachella valley the absolute best of detailing polishing carpet steam cleaning and small business fleet program offerings.

The overwhelming source for car wash loans today is the small business administration s sba loan program. Sba 7a includes closing cost construction interest working capital max amount of loan. Mortgage financing loans for carwashes are available at terms and interest rates that afford the owner to enjoy a good cash flow and monthly income stream. In the united states there are approximately 16 000 car wash and detailing establishments that generate 9 billion in yearly revenue.

Available for ground up construction or existing property. Small business administration sba backed loan from wells fargo may be the best for you. And lower down payments that makes upfront costs more affordable. When it s time to move your car wash business forward a u s.

Easy qualifying programs available. The cost to build a car wash can range anywhere from about 50 000 to 3 5 million. 34 loans 519 535 average loan average interest rate of 8 4. In this case the lender not the sba actually makes the loan.

These business can be a part time. And the majority a whopping 90 of these locations are from small business owners. The car wash industry is currently thriving and industry experts continue to forecast strong growth. Typically 20 to 25 years amount down.

They offer long repayment terms for lower monthly payments. Many car washes are sold using seller financing but these loans are often short term loans that need to be refinanced rather quickly. These car wash loans allow financing up to 90 ltv and offer terms as long as 25 years. There are two basic types of sba loans.

Car wash loans and mortgage financing. Those with large equipment and real estate generally fall in the 2 to 3 million range. Owning and operating a carwash can be very financially rewarding and profitable.