Which lenders are a good match for a Car Wash business SBA loan?
Car Washes project state SBA 7(a) loan approvals in 2020.
Car Washes Industry Highlights
In 2020 the Car Washes industry ranked #39 in SBA 7(a) number of loan approvals and was the #8 ranked industry for loan approval amounts.
All-time there have been 1,097 lenders who have approved 8,358 SBA 7(a) loan approvals to Car Washes businesses for $5,882,850,208. Loan approvals went to borrowers from 2,832 cities for projects in 50 states.
In 2020 Car Wash businesses received 223 SBA 7(a) loan approvals from 116 lenders for $393,244,507. The average loan approval amount in 2020 was $1,763,428. Approvals went to borrowers from 191 cities for projects in 38 states.
For 2020 franchised Car Washes SBA lending there were 7 lenders who approved 7 SBA 7(a) loans for $20,377,000 for an average loan amount of $2,911,000.
Our forecast model projects the Car Washes industry receiving $439 million in SBA 7(a) approvals in 2021.
Read our Industry page on Car Washes SBA lending for a full report, but below are a few highlights:
Historical SBA 7(a) Lending for the Car Washes Industry
2020 Top 25 SBA Lenders
Car Washes
Loan Approvals
Approval Amounts
Car Washes SBA 7(a) Loan Amounts
Average SBA 7(a) loan approval amount in 2020 was $1,763,428.
20.18% of approved loans in 2020 were for loan amounts up to $350,000.
13.45% of approved loans in 2020 were for loan amounts up to $150,000.
59.64% of approved loans in 2020 were for loan amounts over $1 million.
37.22% of loan approvals were for multi-million loan amounts.
Car Washes SBA 7(a) Lending Forecast
Our forecast model projects the Car Washes industry receiving $439 million in SBA 7(a) approvals in 2021.
See our full (and free) SBA report on Car Washes
This report has about everything a small business owner would want to know about SBA 7(a) loans to Car Wash businesses. See the 2020 top ranked lenders and franchise brands by loan amounts, default data, our SBA lending forecasts, the top project states and borrower cities, and more.
