Car Washes acquisitions in Texas: SBA loan data
Since FY2018, SBA lenders have approved 68 7(a) loans to buy an existing business classified as Car Washes in Texas, totaling $180M. The median loan was $2,689,000. That is 1.7% of the 4,080 acquisition loans in Texas.
Seller note standby terms and third-party consents are reviewed before closing.
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How this compares
The median Car Washes loan in Texas is 209% higher than the $870,000 median for all Texas acquisitions, and 103% higher than the $1,324,100 median for Car Washes acquisitions nationwide (406 loans).
On losses, none of the 43 seasoned Car Washes loans in Texas were charged off, against the 4.8% rate for all Texas acquisitions, and against the 0.9% rate for the industry nationally.
Car Washes acquisition loans in Texas by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 13 | $37.4M | $3,152,000 | |
| FY2019 | 17 | $46.5M | $2,662,000 | |
| FY2020 | 6 | $16.2M | $2,314,000 | |
| FY2021 | 7 | $16.5M | $2,470,500 | |
| FY2022 | 3 | $2.7M | $852,100 | |
| FY2023 | 3 | $10.1M | $3,580,000 | |
| FY2024 | 6 | $21.1M | $3,886,150 | |
| FY2025 | 6 | $16M | $2,564,000 | |
| FY2026 | 7 | $13.5M | $1,599,700 |
How often do these acquisition loans fail?
Of the 43 Car Washes in Texas 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. 32 have already been paid in full.
For comparison, Car Washes in Texas 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%.
"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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Metro City Bank | 27 | 39.7% | $93.8M | |
| 2 | Celtic Bank Corporation | 8 | 11.8% | $14.8M | |
| 3 | The Huntington National Bank | 4 | 5.9% | $10.2M | |
| 4 | Hanmi Bank | 3 | 4.4% | $12.4M | |
| 5 | Prosperity Bank | 3 | 4.4% | $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 Texas run?
The median SBA 7(a) loan was $2,689,000 across 68 loans (FY2018 to FY2026), with the middle half between $1,343,250 and $3,868,750. 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 Texas?
Metro City Bank (27), Celtic Bank Corporation (8), The Huntington National Bank (4), Hanmi Bank (3), Prosperity 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 Texas?
Of 43 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 Texas?
1 of the 68 loans (1%) involved a franchise brand.
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Related
- All Texas acquisitions
- Car Washes nationally
- Car Washes in California
- Car Washes in Georgia
- Car Washes in Michigan
- Car Washes in Colorado
- Car Washes in Missouri
- Car Washes in New Jersey
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Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.