Car Wash Loans

Description

Any expenses that you make for your project prior to closing of the loan will count toward your down payment as long as they are customary for the type of project of the type, are reasonable for the scope of the project, and as long as they have been included in the Total Project Cost budget. Common items that can count toward your cash down payment are prepaid engineering and architectural fees, prepaid equipment deposits, prepaid permit application fees, etc.. A good schedule to provide to the lender will include the payee, the date, the check number, a description of the work performed.

We specialize in financing all types of car washes throughout the United States of America. (Every state, every county, every city, every town - everywhere in the U.S.A.). These loans are commonly used to construct, purchase, refurbish, or refinance a car wash.

Lenders general require that the last three years of financial statements be in the form of the seller's (if buying) or owner's (if refinancing) business federal income tax returns. No bank or finance company will accept unaudited seller prepared financial statements in lieu of the tax returns. If the financial results of the car wash to be purchased/refinanced are commingled with other businesses on the seller's/owner's tax return it is possible that the lender will accept "CPA Audited" or "CPA Reviewed" financial statements solely of the subject car wash business.

We provide to our loan applicants an easy-to-use project cost tracking worksheet so that you can more easily calculate your project costs and avoid overlooking costs. This is available to you in Excel, Lotus, and Works formats. Any costs not included in your initial loan approval must either use the construction contingency or must be paid by you dollar-for-dollar. Keep the construction contingency just for change orders and for other costs that truly could not have been foreseen.

We are a "business loan broker specializing exclusively in the car wash industry". This is similar to a home mortgage company, but we specialize.

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