Car Washes acquisitions in Georgia: SBA loan data
Since FY2018, SBA lenders have approved 31 7(a) loans to buy an existing business classified as Car Washes in Georgia, totaling $83.7M. The median loan was $2,686,000. That is 1.7% of the 1,774 acquisition loans in Georgia.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
How this compares
The median Car Washes loan in Georgia is 207% higher than the $875,000 median for all Georgia acquisitions, and 103% higher than the $1,324,100 median for Car Washes acquisitions nationwide (406 loans).
On losses, 4.5% of seasoned Car Washes loans in Georgia were charged off, 43% higher than the 3.2% rate for all Georgia acquisitions, and 406% higher than the 0.9% rate for the industry nationally.
Car Washes acquisition loans in Georgia by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $12.3M | $2,210,000 | |
| FY2019 | 5 | $14M | $2,960,000 | |
| FY2020 | 7 | $18.5M | $2,190,000 | |
| FY2021 | 5 | $14.1M | $2,686,000 | |
| FY2022 | 5 | $14.8M | $3,800,000 | |
| FY2023 | 2 | $2.7M | $1,365,000 | |
| FY2024 | 1 | $4.3M | $4,303,000 | |
| FY2025 | 1 | $3.1M | $3,100,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Of the 22 Car Washes in Georgia acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 1 have been charged off by the SBA, a rate of 4.5% by loan count and 1.5% by dollars. 14 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 in Georgia is 29% 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.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Metro City Bank | 12 | 38.7% | $42.5M | |
| 2 | Open Bank | 4 | 12.9% | $10.5M | |
| 3 | Bank of Hope | 2 | 6.5% | $5.3M | |
| 4 | Georgia's Own Credit Union | 2 | 6.5% | $4.8M | |
| 5 | Ameris Bank | 2 | 6.5% | $4.8M |
Top franchise brands
No franchise brands recorded in this combination.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
Questions buyers ask
How much do SBA loans for Car Washes acquisitions in Georgia run?
The median SBA 7(a) loan was $2,686,000 across 31 loans (FY2018 to FY2026), with the middle half between $1,688,000 and $3,770,000. 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 Car Washes acquisitions in Georgia?
Metro City Bank (12), Open Bank (4), Bank of Hope (2), Georgia's Own Credit Union (2), Ameris Bank (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Car Washes acquisition loans fail in Georgia?
4.5% of 22 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% 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 Georgia?
None of the 31 loans in this combination were recorded with a franchise brand.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Georgia acquisitions
- Financing one? How to get an SBA loan to buy a car wash
- Car Washes nationally
- Car Washes in Texas
- Car Washes in California
- Car Washes in Michigan
- Car Washes in Colorado
- Car Washes in Missouri
- Car Washes in New Jersey
- Hotels and Motels in Georgia
- Full-Service Restaurants in Georgia
- Beer, Wine, and Liquor Retailers in Georgia
- Limited-Service Restaurants in Georgia
- Child Care Services in Georgia
- Broilers and Other Meat Type Chicken Production in Georgia
- Gasoline Stations with Convenience Stores in Georgia
- Fitness and Recreational Sports Centers in Georgia
Small samples move a lot: each loan in this combination is 3% of the count. Industry is the NAICS code the lender recorded. See the methodology.