Coin-Operated Laundries and Drycleaners acquisitions in Illinois: SBA loan data
Since FY2018, SBA lenders have approved 18 7(a) loans to buy an existing business classified as Coin-Operated Laundries and Drycleaners in Illinois, totaling $9.4M. The median loan was $391,500. That is 1.0% of the 1,779 acquisition loans in Illinois.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsFree consultation. All 50 states.
How this compares
The median Coin-Operated Laundries and Drycleaners loan in Illinois is 40% lower than the $650,000 median for all Illinois acquisitions, and 23% lower than the $509,000 median for Coin-Operated Laundries and Drycleaners acquisitions nationwide (317 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 4.3% of seasoned Coin-Operated Laundries and Drycleaners acquisition loans were charged off, and 4.5% of seasoned Illinois acquisition loans of any type.
Coin-Operated Laundries and Drycleaners acquisition loans in Illinois by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $1.6M | $786,000 | |
| FY2019 | 2 | $480K | $239,750 | |
| FY2020 | 2 | $386K | $193,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $895K | $895,000 | |
| FY2023 | 1 | $480K | $480,000 | |
| FY2024 | 2 | $448K | $224,000 | |
| FY2025 | 4 | $1.5M | $353,000 | |
| FY2026 | 4 | $3.7M | $1,073,000 |
How often do these acquisition loans fail?
Fewer than 20 Coin-Operated Laundries and Drycleaners in Illinois 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.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hinsdale Bank & Trust Company, National Association | 2 | 11.1% | $1.6M | |
| 2 | PCB Bank | 2 | 11.1% | $1.6M | |
| 3 | Midwest Regional Bank | 2 | 11.1% | $706K | |
| 4 | The Huntington National Bank | 2 | 11.1% | $448K | |
| 5 | Banc of California | 1 | 5.6% | $1.4M |
Top franchise brands
No franchise brands recorded in this combination.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do SBA loans for Coin-Operated Laundries and Drycleaners acquisitions in Illinois run?
The median SBA 7(a) loan was $391,500 across 18 loans (FY2018 to FY2026). 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 Coin-Operated Laundries and Drycleaners acquisitions in Illinois?
Hinsdale Bank & Trust Company, National Association (2), PCB Bank (2), Midwest Regional Bank (2), The Huntington National Bank (2), Banc of California (1).
How often do Coin-Operated Laundries and Drycleaners acquisition loans fail in Illinois?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Coin-Operated Laundries and Drycleaners acquisitions in Illinois?
None of the 18 loans in this combination were recorded with a franchise brand.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Illinois acquisitions
- Financing one? How to get an SBA loan to buy a laundromat
- Coin-Operated Laundries and Drycleaners nationally
- Coin-Operated Laundries and Drycleaners in California
- Coin-Operated Laundries and Drycleaners in Texas
- Coin-Operated Laundries and Drycleaners in New York
- Full-Service Restaurants in Illinois
- Hotels and Motels in Illinois
- Limited-Service Restaurants in Illinois
- Gasoline Stations with Convenience Stores in Illinois
- Beer, Wine, and Liquor Retailers in Illinois
- General Automotive Repair in Illinois
- Plumbing, Heating, and Air-Conditioning Contractors in Illinois
- Offices of Certified Public Accountants in Illinois
Small samples move a lot: each loan in this combination is 6% of the count. Industry is the NAICS code the lender recorded. See the methodology.