Car Wash Loans from $1,000,000+

We are pleased to offer car wash loans for the purchase or refinance of car wash properties nationwide. Select Commercial specializes in car wash financing for both seasoned operators and new owners.  Whether you are starting a new business, or expanding an existing business, obtaining the right car wash financing is almost as important as finding the right location for your car wash.  Many new owners underestimate the amount of capital needed to open and run a successful car wash operation.  Here are some of the typical costs that Select Commercial is able to finance: acquisition of the real estate and the business, furniture, fixtures, and equipment (FF+E), closing costs, working capital, and rehab/improvements.  There are many costs involved in purchasing or expanding a car wash and obtaining the right car wash loan is crucial. 


There are three main sources of car wash loans: the US Small Business Administration (SBA loans), which include 7(a) and 504 loans, seller financing, and conventional bank loans.  Most conventional lenders tend to steer clear of car wash loans due to the risk profile of the real estate and the business.  Many car washes are sold using seller financing, but these loans are often short-term loans that need to be refinanced rather quickly.  The overwhelming source for car wash loans today is the small Business Administration’s SBA loan program.  These car wash loans allow financing up to 90% LTV and offer terms as long as 25 years.  These loans are easier to obtain than traditional bank financing because the SBA offers its guarantee to the lender in the event of default.  This allows lenders to make riskier loans that conventional lenders might otherwise avoid.  As an example, the SBA 7(a) program allows for loan sizes up to $5 million – enough for even the largest car washes.  Further, since the SBA program is intended to finance small businesses, the proceeds of a car wash loan through the SBA can be used to purchase the business, as well as, the real estate.  Most conventional car wash lenders will only finance the real estate.


Many existing small business owners looking to refinance their loans, or obtain additional cash out, often find that they have trouble obtaining traditional bank loans due to their company’s size, specialized property type, credit rating, or difficulty producing tax returns. If you are starting up a new business or expanding an existing business, it may be possible for us to use projection-based income in order to qualify. Traditional banks can’t match the ability we have to “stretch the guidelines” to help your business grow. These loans have always been a large portion of our business. We actively lend on car washes, gas stations, restaurants, hotels and motels, bed and breakfasts, laundromats, service stations, bowling alleys, movie theaters, golf courses, marinas, retail stores, independent groceries, franchises, auto repair, manufacturing plants, liquor stores, health clubs, self-storage, mini-storage, parking garages, campgrounds, recreational facilities, RV parks, and many other single purpose properties. Let us help you start, purchase, refinance or grow your business! Our minimum loan size is $1,000,000.


It is important to choose a lender that has experience making car wash loans and understands how to analyze these transactions.  Call us today to discuss your car wash loan request!

Our Commercial Real Estate Loan Benefits

• Commercial real estate loans for car washes
• No upfront application or processing fees
• Simplified application process
• Up to 75% LTV, 90% with SBA
• Terms and amortizations up to 25 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

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