Water Street Car Wash, Inc.
Water Street Car Wash, Inc. is a car wash business in Danvers, Massachusetts, classified under NAICS 811192 (Car Washes).
SBA 7(a) loan, change of ownership, approved Jul 23, 2026
$500,000 approvedLender: Manufacturers and Traders Trust Company10 years termCommitted, not fully disbursedLoan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- Manufacturers and Traders Trust Company, Buffalo, NY
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 7.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 23, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $6,001 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 811192, Car Washes
- Project location
- Essex County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Car Washes: $2,047,274.
- Average acquisition loan in Massachusetts: $1,643,977.
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.
SBA 504 loan, approved Jul 8, 2026
$1,046,000 SBA portionCDC: Bay Colony Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,046,000
- Bank portion
- $1,450,000
- Estimated project size
- $2,773,333 (estimated)
- Estimated owner equity
- $277,333 (estimated, about 10% of the project)
- Bank lender
- M&T Bank Corporation, Buffalo, NY
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- July 8, 2051 (estimated, approval date plus term)
- First disbursement
- Sep 16, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 811192, Car Washes
- Project location
- Essex County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-6
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Larger than 3% of expansion loans in Car Washes on this site.
- Average expansion loan in Car Washes: $1,994,962.
- Average expansion loan in Massachusetts: $2,009,683.
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 Massachusetts
- Olde Cape Cod Carwash, Inc., Orleans
- WB Pro Estate LLC, West Bridgewater
- Laser Car Wash, Inc., Whitman