FLORIDA · NAICS 811192
Florida car wash projects, especially express tunnels in growth-corridor submarkets across Central and South Florida, sit in a maturing competitive market. Studies analyze traffic counts, trade-area population growth, format mix, membership economics, and the pipeline of competing tunnels within the capture radius, then translate volume and capture into defensible projections.
FEASIBILITY TRIGGER
Car washes are special-purpose, so a study is normally required with an industry-experienced going-concern appraisal and elevated equity.
Between FY2010 and FY2026, SBA lenders approved and disbursed 364 7(a) and 504 loans for car wash projects in Florida, totaling $489.6 million in approved financing at an average of $1.3 million per loan. Florida ranks #3 of 38 states tracked for car wash SBA lending volume and accounts for 8.5% of national car wash SBA dollar volume. 65.1% of these loans were made under the 7(a) program, the remainder under 504. 55 loans have been approved since FY2024.
| Disbursed loans (FY2010–FY2026) | 364 |
| Approved volume | $489.6 million |
| Average loan size | $1.3 million |
| 7(a) share | 65.1% |
| Approvals since FY2024 | 55 |
| State rank by loan count | #3 of 38 |
Among the 256 seasoned loans in this segment (approvals FY2010–FY2021), 7.0% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for car wash is 5.4%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 7.0% adverse-resolution rate against the national car wash benchmark of 5.4% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Florida deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $1.3 million across 364 loans.
Every Florida car washes project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Florida projects often fit SBA 504 where owner-occupied real estate anchors the deal, with the 50/40/10 structure delivering up to 90 percent financing at a fixed debenture rate, while SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Express tunnel saturation across Florida's growth corridors makes competitive pipeline analysis the decisive section of a 2026 study.
For a national view of this asset class, see our car wash SBA feasibility overview, and read our related analysis in the car wash lending research on our blog.
Public SBA and CDC program records, cited as program evidence
Four SBA 504 loans through SomerCor, land purchase and construction
4,774 square foot automatic car wash, 18-location Chicago operator, national program evidence
Chicago, Cook County, Illinois
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
Book a MeetingOur SBA feasibility study consultants prepare express tunnel, in-bay automatic and self-serve car wash studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
California, Texas, Florida, New York, Illinois, Georgia, New Jersey, Ohio, Pennsylvania, Michigan, Arizona, Colorado, Washington, Virginia, Minnesota, Maryland, Wisconsin, Missouri, Indiana, South Carolina, Oregon, Connecticut, Nevada, North Carolina, Tennessee, Massachusetts, Nebraska, New Mexico, West Virginia, Idaho, Montana, Maine, New Hampshire, Rhode Island, Delaware, Iowa, Kansas, Wyoming.