SBA Acquisition Data

Car Washes acquisitions in California: SBA loan data

Since FY2018, SBA lenders have approved 50 7(a) loans to buy an existing business classified as Car Washes in California, totaling $121M. The median loan was $2,073,600. That is 1.0% of the 5,184 acquisition loans in California.

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acquisition loans
50
FY2018 to FY2026
total approved
$121M
gross loan amount
median loan
$2,073,600
middle half: $975K to $4.1M
avg initial rate
6.67%
at approval, mixed years
median term
25 years
300 months
charge-off rate
0.0%
FY2018 to FY2021 cohort, 28 loans

How this compares

The median Car Washes loan in California is 246% higher than the $600,000 median for all California acquisitions, and 57% higher than the $1,324,100 median for Car Washes acquisitions nationwide (406 loans).

On losses, none of the 28 seasoned Car Washes loans in California were charged off, against the 4.1% rate for all California acquisitions, and against the 0.9% rate for the industry nationally.

Car Washes acquisition loans in California by year

Car Washes in California: SBA acquisition loans by fiscal year. SBA fiscal years run October 1 to September 30.
Fiscal yearLoansTotal approvedMedian loan
FY2018 6
$17.9M $3,205,000
FY2019 8
$16.5M $2,090,000
FY2020 6
$11.6M $1,571,000
FY2021 8
$18.9M $1,966,450
FY2022 8
$23.7M $2,731,000
FY2023 2
$9.7M $4,825,000
FY2024 5
$11.7M $1,543,000
FY2025 3
$7.7M $2,167,000
FY2026 4
$3.4M $732,250

How often do these acquisition loans fail?

Of the 28 Car Washes in California acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 18 have already been paid in full.

For comparison, Car Washes in California has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.

Small sample: 28 seasoned loans. A single additional charge-off would move this rate by about 3.6 percentage points. Read it as a direction, not a precise figure.

"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.

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Top lenders

Lender ranked by SBA acquisition loans
#LenderLoansShareDollars
1Open Bank7
14.0%$14.7M
2Plumas Bank4
8.0%$6.9M
3VelocitySBA, LLC4
8.0%$5.3M
4Celtic Bank Corporation3
6.0%$7.5M
5Byline Bank3
6.0%$2.9M

Top franchise brands

No franchise brands recorded in this combination.

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Questions buyers ask

How much do SBA loans for Car Washes acquisitions in California run?

The median SBA 7(a) loan was $2,073,600 across 50 loans (FY2018 to FY2026), with the middle half between $975,000 and $4,086,250. 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 Car Washes acquisitions in California?

Open Bank (7), Plumas Bank (4), VelocitySBA, LLC (4), Celtic Bank Corporation (3), Byline Bank (3). Some lenders repeatedly finance this industry in this state; the counts above show which.

How often do Car Washes acquisition loans fail in California?

Of 28 seasoned loans (FY2018 to FY2021), none were charged off, against the 3.5% rate for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.

Are franchised businesses part of Car Washes acquisitions in California?

1 of the 50 loans (2%) involved a franchise brand.

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Related

Small samples move a lot: each loan in this combination is 2% of the count. Industry is the NAICS code the lender recorded. See the methodology.