Small Business Loan Car Wash

In a 7a loan a local lender and the sba team up to present the investor with options.

Small business loan car wash.

Car wash loans and mortgage financing. Owning and operating a carwash can be very financially rewarding and profitable. 34 loans 519 535 average loan average interest rate of 8 4. The cost to build a car wash can range anywhere from about 50 000 to 3 5 million.

Car wash financing solutions. Mobile businesses that require only trucks instead of a dedicated location like an automatic car wash franchise fall on the lower end. 5 000 000 typical car wash loans range from 2 m to 4 m length of loan. These car wash loans allow financing up to 90 ltv and offer terms as long as 25 years.

Available for ground up construction or existing property. In the united states there are approximately 16 000 car wash and detailing establishments that generate 9 billion in yearly revenue. Typically 20 to 25 years amount down. And the majority a whopping 90 of these locations are from small business owners.

Small business administration sba backed loan from wells fargo may be the best for you. The overwhelming source for car wash loans today is the small business administration s sba loan program. And lower down payments that makes upfront costs more affordable. Harry a vietnam era veteran established the car wash business in 2003 with his wife.

Sba 7a includes closing cost construction interest working capital max amount of loan. 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 car wash industry is currently thriving and industry experts continue to forecast strong growth. Small business administration consider a small business administration sba loan as an alternate source for funding.

In this case the lender not the sba actually makes the loan. 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. 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. Those with large equipment and real estate generally fall in the 2 to 3 million range.

Many car washes are sold using seller financing but these loans are often short term loans that need to be refinanced rather quickly. They offer long repayment terms for lower monthly payments. There are two basic types of sba loans. Next apply for all the permits and licenses you need in your state to start a business.

Typically 10 to 20 contact us for specifics how funds are used. These business can be a part time. Easy qualifying programs available.