Coin-Operated Laundries and Drycleaners: SBA business acquisition loan data
317 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Coin-Operated Laundries and Drycleaners (NAICS 812310), totaling $265M. Median loan $509,000, 21% lower than the all-acquisition median. Annual volume rose 86% from FY2024 to FY2026.
- Loans, FY2018-FY2026
- 317
- Median loan
- $509,000 (middle half $250,000 to $1,035,000)
- Top lender
- Hanmi Bank (10%, 31 loans)
- Top state
- California
- Charge-off, FY2018-FY2021 loans
- 4.3% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 52 (+33% vs FY2025)
SBA lenders approved 317 7(a) loans to buy laundromats from FY2018-FY2026, with a median of $509,000 and a middle half of $250,000 to $1,035,000. Hanmi Bank made 10% of them. 4.3% of 141 seasoned loans were charged off, 21% higher than the 3.5% all-acquisition rate.
Financing one? Read the guide: How to get an SBA loan to buy a laundromat
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The median SBA loan to buy laundromats was $509,000 across 317 acquisition loans (FY2018 to FY2026), 21% lower than the $645,250 median for all SBA-financed acquisitions. Hanmi Bank, Bank of Hope and Open Bank made the most of them. Of 141 seasoned loans (FY2018 to FY2021), 4.3% were charged off, 21% higher than the 3.5% average for all SBA acquisition loans.
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 $1,035,000 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.6% of all SBA-financed business purchases, ranking #33 of 300 industries tracked.
- Geography. California leads with 70 loans; the top five states account for 52% of the industry's acquisitions.
- Jobs. Lenders reported 1,527 jobs supported across these loans, about 4.8 per acquisition, a rough proxy for the size of business changing hands.
How the Coin-Operated Laundries and Drycleaners industry compares
| Measure | Coin-Operated Laundries... | All acquisitions |
|---|---|---|
| Median loan | $509,000 | $645,250 |
| Middle half of loans | $250,000 to $1,035,000 | $283,000 to $1,465,000 |
| Average initial rate | 7.58% | 7.76% |
| Median term | 10 years | 10 years |
| Charge-off rate (seasoned loans) | 4.3% | 3.5% |
| Loans in sample | 317 | 48,902 |
The median for loans to buy laundromats is $509,000, below the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $250,000 to $1,035,000, against $283,000 to $1,465,000 nationally; the median term is 10 years, the same as the national median; the average initial rate is 7.58%, below the 7.76% national average.
Seasoned loans were charged off at 4.3%, above the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Coin-Operated Laundries... | All acquisitions |
|---|---|---|
| Under $350K | 34% | 30% |
| $350K to under $1M | 40% | 33% |
| $1M to under $2M | 16% | 19% |
| $2M and over | 10% | 17% |
Most loans to buy laundromats (74%) were under $1M, and the largest single band is $350K to under $1M at 40%, against 33% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Hanmi Bank made 10% of loans to buy laundromats, and the top three lenders together made 21%. 22 of the 150 lenders involved made three or more. Repeat experience is spread across many banks. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 91 loans to buy laundromats were approved. That is 52% more than the 60 approved in FY2023 and FY2024. The median was $720,000, well above the $509,000 median across all years.
Coin-Operated Laundries and Drycleaners acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 30 | $21.6M | $419,250 | |
| FY2019 | 41 | $31.4M | $350,000 | |
| FY2020 | 31 | $22.4M | $390,000 | |
| FY2021 | 39 | $28.4M | $425,000 | |
| FY2022 | 25 | $24M | $612,000 | |
| FY2023 | 32 | $23.1M | $489,250 | |
| FY2024 | 28 | $22.9M | $456,500 | |
| FY2025 | 39 | $36.5M | $619,300 | |
| FY2026 | 52 | $54.7M | $851,700 |
How often do these acquisition loans fail?
Of the 141 Coin-Operated Laundries and Drycleaners acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 6 have been charged off by the SBA, a rate of 4.3% by loan count and 1.2% by dollars. 81 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 Coin-Operated Laundries and Drycleaners is 21% higher 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.
The purchase agreement decides what you bought, not the loan approval.
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Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 70 | 22.1% | $94.3M | |
| 2 | Texas | 46 | 14.5% | $35.7M | |
| 3 | Illinois | 18 | 5.7% | $9.4M | |
| 4 | New York | 16 | 5.0% | $17.5M | |
| 5 | Minnesota | 16 | 5.0% | $10.1M | |
| 6 | Georgia | 14 | 4.4% | $11.3M | |
| 7 | Pennsylvania | 11 | 3.5% | $6.6M | |
| 8 | Maryland | 9 | 2.8% | $10.9M | |
| 9 | Virginia | 9 | 2.8% | $10M | |
| 10 | Florida | 9 | 2.8% | $7.1M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hanmi Bank | 31 | 9.8% | $34.1M | |
| 2 | Bank of Hope | 18 | 5.7% | $11.7M | |
| 3 | Open Bank | 16 | 5.0% | $27.6M | |
| 4 | Metro City Bank | 14 | 4.4% | $25.1M | |
| 5 | The Huntington National Bank | 12 | 3.8% | $4.3M | |
| 6 | New Millennium Bank | 9 | 2.8% | $12.6M | |
| 7 | VelocitySBA, LLC | 8 | 2.5% | $7.6M | |
| 8 | PCB Bank | 6 | 1.9% | $3.8M | |
| 9 | Frandsen Bank and Trust | 4 | 1.3% | $2.4M | |
| 10 | East West Bank | 4 | 1.3% | $2.4M |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands in Coin-Operated Laundries and Drycleaners
3% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | WaveMAX Laundry | 5 | 55.6% | $3M | |
| 2 | Mountain Mike's Pizza | 1 | 11.1% | $431K |
Questions buyers ask
How much is a typical SBA loan to buy a business in Coin-Operated Laundries and Drycleaners?
Median $509,000 across 317 acquisition loans (FY2018 to FY2026); the middle half ran $250,000 to $1,035,000. That is 21% lower than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Coin-Operated Laundries and Drycleaners acquisitions?
Hanmi Bank (31), Bank of Hope (18), Open Bank (16), Metro City Bank (14), The Huntington National Bank (12).
Are businesses in Coin-Operated Laundries and Drycleaners often franchised?
Rarely. Only 3% of acquisition loans in this industry involved a franchised business; most are independent operators.
How risky are SBA loans for buying a business in Coin-Operated Laundries and Drycleaners?
Of 141 seasoned loans (FY2018 to FY2021), 4.3% charged off, 21% higher than the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Coin-Operated Laundries and Drycleaners acquisitions?
Median term 10 years, average initial rate 7.58% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
How much do you need down for an SBA loan to buy a laundromat?
The SBA requires the buyer to make an equity injection, commonly 10% of total project cost, and a lender may ask for more. The SBA file does not record injections, so the figures here are the financed portion: the median for loans to buy laundromats was $509,000, and the middle half ran $250,000 to $1,035,000.
How long does an SBA acquisition loan take?
For a change-of-ownership 7(a) loan, 45 to 90 days from application to close is typical. It varies by lender and by how quickly third-party reports, such as the business valuation and appraisal, come back. The SBA file records approval dates, not application dates, so this site cannot measure it. Lenders approved 91 loans to buy laundromats in FY2025 and FY2026.
Which banks make SBA loans for a laundromat?
By loan count, FY2018 to FY2026: Hanmi Bank (31), Bank of Hope (18), Open Bank (16), Metro City Bank (14), The Huntington National Bank (12). Hanmi Bank made 10% of loans to buy laundromats. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
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Cite this data
SBA Acquisition Data, "Coin-Operated Laundries and Drycleaners: SBA acquisition loan data", https://sbaacquisitiondata.com/industry/coin-operated-laundries-and-drycleaners-812310 (data as of September 30, 2026). Source: U.S. Small Business Administration 7(a) loan file, data.sba.gov. Aggregated by SBA Acquisition Data.
The figures on this page are also published as JSON at https://sbaacquisitiondata.com/data/industry/coin-operated-laundries-and-drycleaners-812310.json.