Main Street Registry

Minutes Carwash

Los Angeles, CA · Car Washes · NAICS 811192

Minutes Carwash is a car wash business in Los Angeles, California, classified under the industry Car Washes (NAICS 811192). The business was financed with an SBA 7(a) loan for a change of ownership of $600,000, approved on June 1, 2024 by lender Open Bank.

SBA 7(a) loan, change of ownership, approved Jun 1, 2024

$600,000 approvedLender: Open Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$600,000
SBA-guaranteed amount
$450,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
June 1, 2034 (estimated, approval date plus term)
Estimated monthly payment
$7,929 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 14, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
811192, Car Washes
Project location
Los Angeles County, CA
SBA district office
Los Angeles District Office
Congressional district
CA-27
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 12% of acquisition loans in Car Washes on this site.
  • Average acquisition loan in Car Washes: $2,047,274.
  • Average acquisition loan in California: $1,688,228.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in California