Car Washes: SBA business acquisition loan data
406 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Car Washes (NAICS 811192), totaling $733M. Median loan $1,324,100, 105% higher than the all-acquisition median. Annual volume rose 18% from FY2024 to FY2026.
Financing one? Read the guide: How to get an SBA loan to buy a car wash
Seller note standby terms and third-party consents are reviewed before closing.
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $2,703,075 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.8% of all SBA-financed business purchases, ranking #24 of 300 industries tracked.
- Geography. Texas leads with 68 loans; the top five states account for 47% of the industry's acquisitions.
- Jobs. Lenders reported 3,702 jobs supported across these loans, about 9.1 per acquisition, a rough proxy for the size of business changing hands.
Car Washes acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 46 | $86.8M | $1,713,000 | |
| FY2019 | 62 | $134M | $2,156,000 | |
| FY2020 | 37 | $67.7M | $1,568,000 | |
| FY2021 | 77 | $124M | $1,100,000 | |
| FY2022 | 44 | $83.5M | $1,142,500 | |
| FY2023 | 26 | $44.9M | $1,155,000 | |
| FY2024 | 34 | $71.7M | $1,462,000 | |
| FY2025 | 40 | $57.1M | $755,000 | |
| FY2026 | 40 | $62.7M | $1,229,500 |
How often do these acquisition loans fail?
Of the 222 Car Washes acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 2 have been charged off by the SBA, a rate of 0.9% by loan count and 0.2% by dollars. 142 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Car Washes is 74% lower than the acquisition-loan average. 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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 68 | 16.7% | $180M | |
| 2 | California | 50 | 12.3% | $121M | |
| 3 | Georgia | 31 | 7.6% | $83.7M | |
| 4 | Florida | 24 | 5.9% | $58.5M | |
| 5 | Michigan | 19 | 4.7% | $19.1M | |
| 6 | Colorado | 19 | 4.7% | $18.3M | |
| 7 | Pennsylvania | 15 | 3.7% | $18.3M | |
| 8 | Missouri | 15 | 3.7% | $16.1M | |
| 9 | New Jersey | 13 | 3.2% | $20.9M | |
| 10 | Illinois | 13 | 3.2% | $17.4M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Metro City Bank | 42 | 10.3% | $144M | |
| 2 | Celtic Bank Corporation | 27 | 6.7% | $44.5M | |
| 3 | The Huntington National Bank | 26 | 6.4% | $25.5M | |
| 4 | Paradise Bank | 15 | 3.7% | $44.5M | |
| 5 | Open Bank | 15 | 3.7% | $28.9M | |
| 6 | Hanmi Bank | 14 | 3.4% | $40.9M | |
| 7 | New Millennium Bank | 10 | 2.5% | $23.9M | |
| 8 | Live Oak Banking Company | 7 | 1.7% | $11M | |
| 9 | Midwest Regional Bank | 7 | 1.7% | $4.9M | |
| 10 | VelocitySBA, LLC | 6 | 1.5% | $7.7M |
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Franchise brands in Car Washes
1% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Sunoco | 1 | 33.3% | $2.3M |
Questions buyers ask
How much is a typical SBA loan to buy a business in Car Washes?
Median $1,324,100 across 406 acquisition loans (FY2018 to FY2026); the middle half ran $587,500 to $2,703,075. That is 105% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Car Washes acquisitions?
Metro City Bank (42), Celtic Bank Corporation (27), The Huntington National Bank (26), Paradise Bank (15), Open Bank (15).
Are businesses in Car Washes often franchised?
Rarely. Only 1% of acquisition loans in this industry involved a franchised business; most are independent operators.
How risky are SBA loans for buying a business in Car Washes?
Of 222 seasoned loans (FY2018 to FY2021), 0.9% charged off, 74% lower than the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Car Washes acquisitions?
Median term 25 years, average initial rate 6.89% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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