Buying a Tide Cleaners franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing Tide Cleaners (classified mostly as Drycleaning and Laundry Services (except Coin-Operated)), totaling $4.8M. The median loan was $740,000, 15% higher than the $645,250 median for all SBA-financed acquisitions. 3 of these loans were approved in the last two fiscal years.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Tide Cleaners resale loans landed between $547,000 and $1,325,000.
- Lender experience exists. Celtic Bank Corporation alone has financed 2 Tide Cleaners resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Tide Cleaners resale
The median SBA 7(a) loan for a Tide Cleaners resale was $740,000 across 5 loans (FY2018 to FY2026). Celtic Bank Corporation, TD Bank, National Association and First Citizens Bank have financed the most Tide Cleaners resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Tide Cleaners acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 2 | $2.1M | $1,032,500 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $2.7M | $547,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Tide Cleaners acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
The purchase agreement decides what you bought, not the loan approval.
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Lenders financing Tide Cleaners resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Celtic Bank Corporation | 2 | 40.0% | $954K | |
| 2 | TD Bank, National Association | 1 | 20.0% | $1.8M | |
| 3 | First Citizens Bank | 1 | 20.0% | $1.3M | |
| 4 | First Merchants Bank | 1 | 20.0% | $740K |
States where Tide Cleaners units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Maryland | 2 | 40.0% | $954K | |
| 2 | Florida | 1 | 20.0% | $1.8M | |
| 3 | Minnesota | 1 | 20.0% | $1.3M | |
| 4 | North Carolina | 1 | 20.0% | $740K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do buyers borrow to buy a Tide Cleaners franchise?
The median SBA 7(a) loan for a Tide Cleaners resale was $740,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $547,000 to $1,325,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Tide Cleaners acquisitions?
Celtic Bank Corporation has made the most SBA acquisition loans for Tide Cleaners (2, 40% of the total). TD Bank, National Association, First Citizens Bank, First Merchants Bank follow.
What interest rate and term do Tide Cleaners acquisition loans carry?
The average initial rate at approval was 8.01% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Tide Cleaners resale riskier than other SBA-financed acquisitions?
Too few Tide Cleaners acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Tide Cleaners units being bought with SBA loans?
Maryland (2), Florida (1), Minnesota (1), North Carolina (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
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Related
- All Drycleaning and Laundry Services (except Coin-Operated) acquisitions
- Maryland acquisitions
- Florida acquisitions
- Minnesota acquisitions
- Celtic Bank Corporation
- TD Bank, National Association
- First Merchants Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Tide Cleaners" (franchise code S1794). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.