Coin-Operated Laundries and Drycleaners acquisitions in Texas: SBA loan data
Since FY2018, SBA lenders have approved 46 7(a) loans to buy an existing business classified as Coin-Operated Laundries and Drycleaners in Texas, totaling $35.7M. The median loan was $520,350. That is 1.1% of the 4,080 acquisition loans in Texas.
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How this compares
The median Coin-Operated Laundries and Drycleaners loan in Texas is 40% lower than the $870,000 median for all Texas acquisitions, and in line with the $509,000 median for Coin-Operated Laundries and Drycleaners acquisitions nationwide (317 loans).
On losses, none of the 22 seasoned Coin-Operated Laundries and Drycleaners loans in Texas were charged off, against the 4.8% rate for all Texas acquisitions, and against the 4.3% rate for the industry nationally.
Coin-Operated Laundries and Drycleaners acquisition loans in Texas by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $765K | $382,250 | |
| FY2019 | 6 | $3.3M | $394,250 | |
| FY2020 | 8 | $9.2M | $573,950 | |
| FY2021 | 6 | $2.1M | $250,000 | |
| FY2022 | 5 | $4.2M | $453,400 | |
| FY2023 | 1 | $729K | $729,000 | |
| FY2024 | 1 | $1.7M | $1,684,700 | |
| FY2025 | 6 | $4.1M | $534,000 | |
| FY2026 | 11 | $9.7M | $835,000 |
How often do these acquisition loans fail?
Of the 22 Coin-Operated Laundries and Drycleaners 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. 12 have already been paid in full.
For comparison, Coin-Operated Laundries and Drycleaners 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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bank of Hope | 7 | 15.2% | $2.9M | |
| 2 | The Huntington National Bank | 5 | 10.9% | $2M | |
| 3 | Open Bank | 4 | 8.7% | $2.2M | |
| 4 | Metro City Bank | 3 | 6.5% | $6.6M | |
| 5 | VelocitySBA, LLC | 2 | 4.3% | $3M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | WaveMAX Laundry | 4 | 8.7% | $1.9M |
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Questions buyers ask
How much do SBA loans for Coin-Operated Laundries and Drycleaners acquisitions in Texas run?
The median SBA 7(a) loan was $520,350 across 46 loans (FY2018 to FY2026), with the middle half between $251,750 and $984,275. 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 Texas?
Bank of Hope (7), The Huntington National Bank (5), Open Bank (4), Metro City Bank (3), VelocitySBA, LLC (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Coin-Operated Laundries and Drycleaners acquisition loans fail in Texas?
Of 22 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 Coin-Operated Laundries and Drycleaners acquisitions in Texas?
4 of the 46 loans (9%) involved a franchise brand, most often WaveMAX Laundry (4).
Terms signed in the LOI shape the purchase agreement that follows.
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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.