NEW YORK · NAICS 811192
New York car wash projects pencil against dense urban express formats and corridor flex-serve sites. Studies translate vehicle counts, capture rates, format choice, and member-program economics into defensible revenue, then resolve site cost and equity against the state's strict environmental and zoning landscape.
FEASIBILITY TRIGGER
Car washes are special-purpose under SOP 50 10 8, so a third-party feasibility study is normally required, the appraisal must come from an industry-experienced going-concern appraiser, and elevated equity applies.
SBA 7(a) and 504 lenders funded 136 car wash projects across New York between FY2010 and FY2026, moving $126.1 million in approved capital at an average ticket of $927,000. That volume places New York at #9 of 38 states measured for car wash SBA activity, or 2.2% of national car wash dollars. The 7(a) program carried 83.1% of the loan count, with 504 taking the balance, and 15 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 136 |
| Approved volume | $126.1 million |
| Average loan size | $927,000 |
| 7(a) share | 83.1% |
| Approvals since FY2024 | 15 |
| State rank by loan count | #9 of 38 |
Among the 104 seasoned loans in this segment (approvals FY2010–FY2021), 6.7% 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 6.7% adverse-resolution rate against the national car wash benchmark of 5.4% tells credit committees to scrutinize revenue projections and coverage assumptions closely on New York 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 $927,000 across 136 loans.
Every New York 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.
New York 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.
New York sits among the top states by car wash establishment count, with dense urban express formats defining the competitive analysis.
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.
Compare neighboring markets: New Mexico, North Carolina, Texas.
Public SBA and CDC program records, cited as program evidence
Four SBA 504 loans through SomerCor
Land purchase and construction of a 4,774 square foot automatic car wash for an 18-location 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.
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