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Last updated on Feb 1, 2023
2 min read

Car Wash Loans

Commercial real estate financing for car washes come in a variety of options, with the most popular being SBA 7(a) and SBA 504 loans. These loans offer between 85% and 90% LTV, with amortizations of up to 25 years.

Better Financing Starts with More Options Start Your Application and Unlock the Power of Choice. Click Here to Get Quotes →$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1M offered by a Credit Union at 5.1%Click Here to Get Quotes
In this article:
  1. Car Wash Loan Terms
  2. SBA Loans for Car Washes 
  3. Get a Free Car Wash Property Loan Quote Today
  4. Get Financing

Car washes keep our cars looking nice and shiny, but they're also an important part of the U.S. economy. In fact, some experts estimate that the car wash industry is $10 billion a year business. In order to keep the industry strong, car wash owners need financing in order to grow. So, no matter whether you're looking for a $500,000 loan to open a small car wash, or $2 million to open a large, full-service car wash, Commercial Real Estate Loans is here to help. 

Car Wash Loan Terms

In general, car wash loan terms include: 

  • Loan Size: $500,000+

  • Loan Purpose: Loan can be used for property acquisition or refinancing, but cannot be used for business only-financing

  • Loan Term: 3, 5, 10 and 15-year fixed-rate terms

  • Amortization: 15, 20, 25 and 30-year options

  • Leverage: 80% LTV allowance (subordinate debt allowed)

  • DSCR: 1.20 minimum DSCR

  • Credit Score Requirement: 660 minimum

SBA Loans for Car Washes 

For some car wash owners, the SBA 7a and SBA 504 loan programs could be the best option available to finance their businesses. SBA loans aren't strictly limited to funding the purchase of property. Instead, they can also be used to purchase equipment and fund working capital for car wash businesses. However, SBA loans often have much stricter requirements than other kinds of financing, including higher credit score and lower debt requirements for borrowers. 

Get a Free Car Wash Property Loan Quote Today

Get your car wash property loan quote: Take a minute to fill out the form below. We'll swing into action right away.

In this article:
  1. Car Wash Loan Terms
  2. SBA Loans for Car Washes 
  3. Get a Free Car Wash Property Loan Quote Today
  4. Get Financing

Getting commercial property financing should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

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Commercial Real Estate Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

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