Car Washes: SBA acquisition lenders
126 SBA 7(a) loans financed acquisitions classified as Car Washes nationwide, FY2024–FY2026. Ranked lenders, loan sizes, rates and state-by-state activity.
- Acquisitions financed
- 126
- Total approved
- $213.0M
- Median loan
- $1.1M
- Middle half of loans
- $512K to $2.7M
- Median starting rate
- 9.00%
- Median term
- 25 yrs
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Lenders financing the most acquisitions in this industry
| # | Lender | Loans | Share | Median loan | Total approved |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 11 | 9% | $578K | $8.4M |
| 2 | Celtic Bank Corporation | 8 | 6% | $1.3M | $14.3M |
| 3 | Live Oak Banking Company | 8 | 6% | $958K | $11.5M |
| 4 | Metro City Bank | 7 | 6% | $4.6M | $27.7M |
| 5 | Hanmi Bank | 6 | 5% | $2.9M | $17.7M |
| 6 | Byline Bank | 6 | 5% | $852K | $9.9M |
| 7 | Paradise Bank | 5 | 4% | $4.0M | $16.1M |
| 8 | Readycap Lending, LLC | 3 | 2% | $2.5M | $7.0M |
| 9 | Open Bank | 3 | 2% | $600K | $1.8M |
| 10 | American Momentum Bank | 2 | 2% | $5.0M | $10.0M |
| 11 | T Bank, National Association | 2 | 2% | $3.0M | $5.9M |
| 12 | Woori America Bank | 2 | 2% | $2.9M | $5.9M |
| 13 | First Internet Bank of Indiana | 2 | 2% | $1.7M | $3.4M |
| 14 | Peapack Private Bank and Trust | 2 | 2% | $1.6M | $3.2M |
| 15 | Stearns Bank National Association | 2 | 2% | $1.5M | $2.9M |
Activity by state
| State | Loans | Median loan | Total approved |
|---|---|---|---|
| Texas | 20 | $2.7M | $55.6M |
| California | 14 | $1.2M | $28.3M |
| Pennsylvania | 9 | $1.3M | $13.0M |
| Illinois | 9 | $581K | $8.7M |
| Florida | 8 | $1.9M | $20.6M |
| Missouri | 7 | $326K | $2.0M |
| Maryland | 5 | $2.7M | $13.5M |
| Arizona | 5 | $733K | $4.5M |
| Washington | 4 | $2.1M | $7.5M |
| New York | 4 | $1.4M | $5.5M |
| Colorado | 4 | $574K | $2.4M |
| Utah | 3 | $1.2M | $6.1M |
| Ohio | 3 | $994K | $5.2M |
| Kentucky | 3 | $640K | $3.1M |
| Massachusetts | 3 | $558K | $2.8M |
| Nebraska | 3 | $1.1M | $2.2M |
| Kansas | 3 | $630K | $1.7M |
| Georgia | 2 | $3.7M | $7.4M |
| Indiana | 2 | $1.7M | $3.4M |
| Alabama | 2 | $780K | $1.6M |
| Michigan | 2 | $445K | $890K |
| North Carolina | 1 | $4.9M | $4.9M |
| West Virginia | 1 | $3.5M | $3.5M |
| Connecticut | 1 | $2.8M | $2.8M |
| New Jersey | 1 | $1.3M | $1.3M |
| Louisiana | 1 | $1.2M | $1.2M |
| New Hampshire | 1 | $1.2M | $1.2M |
| Oregon | 1 | $850K | $850K |
| Wisconsin | 1 | $745K | $745K |
| Virginia | 1 | $340K | $340K |
| Minnesota | 1 | $212K | $212K |
| Mississippi | 1 | $55K | $55K |