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Your Guide to Car Wash Funding

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Loan Overview

Loan Amount Up to $500,000
Estimated Repayment Terms 1-5 Years
Interest Rate Starting at 7%
Speed of Funding As fast as 1 day

The U.S. car wash service market is projected to increase from more than $35 billion in 2020 to $41 billion by 2025, according to Grand View Research. And 90% of car wash services contributing to that increase are operated by small business owners.

Running a successful car wash business is no easy task, but there are ways to gain an advantage in this crowded industry. Those ways usually require capital, however. When you don’t have enough money on hand to operate like you want or need to, consider your car wash funding options.

Reasons to Apply for Car Wash Loans and Financing

Car wash owners explore funding for a variety of short- and long-term business investments. Here are a few reasons they turn to financing. 

Purchase Equipment

Keeping your car wash running with top-of-the-line machinery can play a crucial role in your business’s success. Paying for high-quality detailing equipment out of pocket is something that most small business owners aren’t in a position to do, however. That’s when many turn to car wash business loans.

Here are just a few items you could use financing to purchase:

  • Polishers
  • Buffers
  • Vapor steamers
  • Pressure washers
  • Mobile detailing truck or van
  • Cleaning and deodorizing equipment

Buy Products

You need quality car wash, waxing and detailing products to run your business. You may also want to offer items for purchase to your customers, such as air fresheners, steering wheel covers, floor mats and more. When you’re looking to stock up on inventory and supplies, a car wash loan for your business can provide the capital you need to make a large purchase.


Grand View Research notes that more and more drivers are shifting from washing their cars at home to paying someone to do the task for them. With the market share there, it’s often just a matter of competing with other car wash facilities. When you want to market your brand, advertising dollars can go a long way toward bringing in new clientele. Car wash funding from a business lender can help.

Expand Locations

If business is going great, maybe you’d like to invest in another car wash facility. Depending on the location, you can encounter pricing from a couple hundred thousand to more than $1 million. If you need funding to buy a second or third location, research car wash finance companies that can help.

Pay Staff

The Grand View Research notes car wash businesses often employ 5-15 workers. Consider that workers in this industry on average earn between $12-14 an hour

Let’s say, you have 10 workers earning that wage on a part-time schedule of 25 hours per week. That’s more than $3,000 a week you need to come up with to make payroll. That could put a crunch in your finances if you’ve had a slow month or need to cover a large, unanticipated expense.

Best Types of Car Wash Business Financing

Here are a few of the best car wash funding options, whether you need car wash equipment financing or a working capital loan.

Equipment Financing

When you want to purchase a new piece of machinery or upgrade an old one, equipment financing can provide you with the funds you need. In some cases, the equipment you’re buying serves as collateral for your loan. Approved borrowers are often able to get funding up to 100% of the purchase value.

Business Line of Credit

If you want to have a safety net available when you need it, consider a business line of credit. It’s the most flexible type of financing and works much the same way as a credit card. Get approved for a certain amount and tap into that credit line as needs arise. As you pay down your balance, your credit line is restored up to its original limit.

Working Capital Loan

Working capital loans, also referred to as bridge loans, provide capital to bridge funding gaps over the short term. You can use this type of financing to cover operating expenses, make payroll, take care of an emergency expense or make a bulk inventory purchase, among others.

Business Term Loan

A business term loan is an option if you have a costly, one-time expense. There are short-term loans, which can range from a few months to more than a year. If you would like a longer term loan, those are also available, with repayment terms spanning several years.

SBA Loan

If you’ve been denied a business loan with a bank, consider a Small Business Administration (SBA) loan, which provides lenders a government guarantee. While the application and funding process can be lengthy, approved borrowers can find competitive interest rates and terms.

Merchant Cash Advance

There also are alternative financing products you can turn to for car wash funding. A merchant cash advance is one example. If you’re looking for the fastest financing and have been turned down for different funding programs, you could qualify. The trade-off is shorter repayment terms, often daily payments and higher financing costs, in the form of factor rates.

How to Get Funding for a Car Wash Business

One of the first things you can do to get funding for your car wash business is to understand the requirements to qualify for a loan.

Once you know what to expect, where should you turn?

You could head to a big-name bank or a local credit union. After all, they’re often able to offer competitive rates and terms. However, the process to apply and get funded can take time, time you might not have. Also, the requirements with these financial institutions can be challenging for many small business owners to meet. 

Consider there also are alternative lenders you can turn to. These funders are more apt to approve applicants who may have been denied for a bank loan. Approved borrowers can expect fast funding, sometimes as fast as one day. In exchange for speedy, hassle-free financing, offers typically have shorter, more frequent payment terms and higher interest rates.

What You Need to Apply for Car Wash Financing

Through Fast Capital 360, you can seek car wash equipment financing, working capital loans and more. Here’s what you need to qualify. 

Minimum Requirements:  

  • 500 or higher FICO score
  • 6 months in business
  • Annual revenue of $120,000 

What You’ll Need to Get Started:

  • Basic information about your business and yourself 
  • 6 most recent monthly bank statements

Apply With Fast Capital 360

At Fast Capital 360, car wash loan rates start at 6.25% for SBA loans and 7%-8% for most other loans. Apply today and benefit from the following:

Quick and Easy Application

It takes just a few minutes online to get started.

Multiple Offers

Because we partner with lenders throughout the country, you could have several offers come your way.

Expert Advice 

A Fast Capital 360 Business Advisor will review your offers with you. Choose the one that works best for your needs.

One application. Multiple loan offers.

Quickly compare loan offers from multiple lenders without impacting your credit score.

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