A car wash is a special, non-traditional type of use, and as a result it can be tough to find the right lender. That’s because non-traditional loan notes can’t easily be sold, and also, traditional lenders don’t always understand the car wash business well enough to risk it. There are many unique things in this industry that aren’t taken into account with a lender who is not unfamiliar with the industry so it’s important to find an experienced industry lender
On acquisitions, lenders are requiring anywhere between 10% – 20% down payment depending on the experience and strength of the borrower.
Car wash loans can cover any aspect of your car wash endeavor including…
1.) Existing car wash acquisitions
2.) Car wash acquisition, plus remodeling/equipment upgrades
3.) Land, construction, and working capital
We have worked with lenders that are experienced in the car wash industry – please feel free to check out our resources page.