ILLINOIS · NAICS 812310
Illinois laundromat projects pencil against dense Chicago neighborhood submarkets with some of the strongest unit economics in the Midwest. Studies translate machine count, turn rate, wash-dry-fold capture, and route economics into defensible projections, and resolve utility and equipment cost against the local rent structure.
FEASIBILITY TRIGGER
Cash-flow-underwritten deals where lenders require utilization analysis when operating history is thin.
SBA 7(a) and 504 lenders funded 139 laundromat projects across Illinois between FY2010 and FY2026, moving $67.0 million in approved capital at an average ticket of $482,000. That volume places Illinois at #5 of 38 states measured for laundromat SBA activity, or 3.9% of national laundromat dollars. The 7(a) program carried 83.5% of the loan count, with 504 taking the balance, and 19 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 139 |
| Approved volume | $67.0 million |
| Average loan size | $482,000 |
| 7(a) share | 83.5% |
| Approvals since FY2024 | 19 |
| State rank by loan count | #5 of 38 |
Among the 102 seasoned loans in this segment (approvals FY2010–FY2021), 2.0% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for laundromat is 4.0%, against 7.3% across all industries. That performance runs below the national benchmark for this asset class, a credit-positive signal for lenders.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 2.0% adverse-resolution rate below the national laundromat benchmark of 4.0% supports the credit story for well-underwritten Illinois projects in this class. Across 139 SBA loans averaging $482,000, that track record does not eliminate the need for a third-party feasibility study, but it means a rigorous study reinforces rather than defends the projections.
Every Illinois laundromats 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.
Illinois 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.
Dense Chicago neighborhood submarkets carry some of the strongest laundromat economics in the Midwest.
For a national view of this asset class, see our laundromat SBA feasibility overview, and read our related analysis in the laundromat lending research on our blog.
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