Small Business Loan Car Wash

They offer long repayment terms for lower monthly payments.

Small business loan car wash.

Small business administration consider a small business administration sba loan as an alternate source for funding. These car wash loans allow financing up to 90 ltv and offer terms as long as 25 years. Typically 20 to 25 years amount down. 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.

5 000 000 typical car wash loans range from 2 m to 4 m length of loan. Mobile businesses that require only trucks instead of a dedicated location like an automatic car wash franchise fall on the lower end. Next apply for all the permits and licenses you need in your state to start a business. There are two basic types of sba loans.

Small business administration sba backed loan from wells fargo may be the best for you. Sba 7a includes closing cost construction interest working capital max amount of loan. When it s time to move your car wash business forward a u s. In this case the lender not the sba actually makes the loan.

Easy qualifying programs available. 34 loans 519 535 average loan average interest rate of 8 4. Those with large equipment and real estate generally fall in the 2 to 3 million range. And lower down payments that makes upfront costs more affordable.

In the united states there are approximately 16 000 car wash and detailing establishments that generate 9 billion in yearly revenue. The overwhelming source for car wash loans today is the small business administration s sba loan program. 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. Harry a vietnam era veteran established the car wash business in 2003 with his wife.

How profitable is a car wash. In a 7a loan a local lender and the sba team up to present the investor with options. Many car washes are sold using seller financing but these loans are often short term loans that need to be refinanced rather quickly. The cost to build a car wash can range anywhere from about 50 000 to 3 5 million.

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. Typically 10 to 20 contact us for specifics how funds are used. Owning and operating a carwash can be very financially rewarding and profitable. These business can be a part time.

Car wash financing solutions. The car wash industry is currently thriving and industry experts continue to forecast strong growth. A 7a and a 504.