Keystone Funding Group Frequently Asked Questions

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Neither of the two primary loan options is necessarily better than the other. When deciding between SBA and bank loans for car wash financing sources, it's important to determine which fits and accomplishes your specific goals best.  

The largest trade-off between SBA and conventional car wash loans is that SBA loans have a higher interest rate but require less cash or equity down. Conventional (aka traditional bank) loans have lower interest rates but typically require more equity or cash down from the acquirer.

Between 10% and 25% cash down is required to purchase a car wash. The exact amount of cash down needed to acquire a car wash business depends on several factors including the loan type, amount of the loan, Pro-forma debt service coverage, personal financial state and creditworthiness, industry experience, and the strength of the underlying asset of the car wash and any associated property being purchased. To learn more about car wash financing, give us a call.

The average interest rate for car wash financing is between 4% and 7%. Reach out today to learn more!

Twenty years is the average length or term of a car wash loan. Car wash loans typically vary from 10 to 25 years in length of the loan. The largest determining factor that contributes to where within this large range is achievable relies on whether or not the land or real estate is being purchased with the car wash (as opposed to buying the car wash business along with a lease, but not the land or real estate itself). If you're interested in car wash financing, we can help you get the best possible loan for your situation.

30 to 45 days is the average amount of time it takes to get car wash financing.

Yes, we do construction financing and car wash financing. Call today to learn more.

Yes, we offer options for everyone interested in car wash financing. According to the 2019 County Business Patterns program, there were 16,976 car washes with paid employees in the United States. Opening a car wash can be a great small business opportunity. Reach out today for more information.