Buying a WaveMAX Laundry franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 5 7(a) loans to buy an existing WaveMAX Laundry (classified mostly as Coin-Operated Laundries and Drycleaners), totaling $3M. The median loan was $816,000, 26% higher than the $645,250 median for all SBA-financed acquisitions. 5 of these loans were approved in the last two fiscal years.
The purchase agreement decides what you bought, not the loan approval.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of WaveMAX Laundry resale loans landed between $250,000 and $843,000.
- Lender experience exists. PlainsCapital Bank alone has financed 2 WaveMAX Laundry 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 WaveMAX Laundry resale
The median SBA 7(a) loan for a WaveMAX Laundry resale was $816,000 across 5 loans (FY2018 to FY2026). PlainsCapital Bank, Western Alliance Bank and Hanmi Bank have financed the most WaveMAX Laundry 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%.
WaveMAX Laundry acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 2 | $846K | $423,000 | |
| FY2026 | 3 | $2.2M | $843,000 |
How often do these acquisition loans fail?
Fewer than 20 WaveMAX Laundry 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Lenders financing WaveMAX Laundry resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | PlainsCapital Bank | 2 | 40.0% | $846K | |
| 2 | Western Alliance Bank | 1 | 20.0% | $1.1M | |
| 3 | Hanmi Bank | 1 | 20.0% | $843K | |
| 4 | Frost Bank | 1 | 20.0% | $250K |
States where WaveMAX Laundry units are bought
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Questions buyers ask
How much do buyers borrow to buy a WaveMAX Laundry franchise?
The median SBA 7(a) loan for a WaveMAX Laundry resale was $816,000 across 5 loans (FY2018 to FY2026). The middle half of loans ran from $250,000 to $843,000. 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 WaveMAX Laundry acquisitions?
PlainsCapital Bank has made the most SBA acquisition loans for WaveMAX Laundry (2, 40% of the total). Western Alliance Bank, Hanmi Bank, Frost Bank follow.
What interest rate and term do WaveMAX Laundry acquisition loans carry?
The average initial rate at approval was 8.75% (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 WaveMAX Laundry resale riskier than other SBA-financed acquisitions?
Too few WaveMAX Laundry 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 WaveMAX Laundry units being bought with SBA loans?
Texas (4), Arizona (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.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Coin-Operated Laundries and Drycleaners acquisitions
- Texas acquisitions
- Arizona acquisitions
- PlainsCapital Bank
- Western Alliance Bank
- Hanmi Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "WaveMAX Laundry" (franchise code S2407). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.