Merchant Cash Advances » Car Wash Business Advance

Car Wash Business Funding

Car being loaded into car wash at car wash business.

By Richard Wilson

Last Updated on

Estimated read time: 7 minutes

If you operate a car wash business and need funding to upgrade automatic car wash equipment, enhance your hand car wash services, or invest in specialized detailing offerings, MCashAdvance car wash business advances are the swift solution you’ve been searching for.

We offer car wash business advances ranging from $5,000 to $900,000 to help grow your car wash enterprise. We fund all types of car wash businesses, including automatic car washes, hand car washes, and detailing services.

Securing financing from banks for car wash businesses can be a lengthy and challenging process, often taking weeks or even months to obtain, with strict approval requirements, extensive paperwork, and a preference for businesses with perfect credit.

An advance from MCashAdvance for car wash companies offers simpler approval, no paperwork or collateral, the possibility of receiving funds within 24 hours or up to 3 days, and accepts poor credit scores with no hard credit check that won’t impact your credit score upon application.

Get a Car Wash Loan Alternative Now

MCA Feature Offer Details
MCA Amounts: $5,000 – $900,000
Factor Rate: 1.1 – 1.5
Holdback 10 – 25%
Repay In: 3 – 18 months
Funding Time: 1 – 3 days

Applying is easy, free, and won’t impact your credit score.

Get the car wash financing you need today.

What is a Car Wash Business Advance?

A car wash business advance is a type of merchant cash advance (MCA) created for car wash businesses, including automatic car washes, hand car washes, and detailing services.

Your car wash business sells a portion of its revenue to MCashAdvance in exchange for an upfront lump sum of funds called a cash advance.

In exchange, we will deduct a small percentage of your daily sales revenue until the advance is fully repaid.

Emergency Funding for Car Wash Businesses

In the car wash industry, specific financial needs arise from the operational demands of vehicle cleaning, maintenance, and customer service enhancements. A cash advance for car wash businesses provides targeted financial support, quickly accessible and tailored for the unique requirements of car wash and valeting services.

Car Wash Financing for Any Purpose

Here are 17 common ways a cash advance can be utilized in your Car Wash Business:

  1. High-Pressure Wash Systems: Invest the funds in high-pressure wash systems that provide efficient and thorough cleaning for a variety of vehicles.
  2. Eco-Friendly Detergents and Waxes: Use the capital to stock up on biodegradable and eco-friendly cleaning agents, appealing to environmentally conscious consumers.
  3. Automated Car Wash Equipment: Direct the funds towards advanced automated car wash equipment, including touchless and soft-touch systems, to increase throughput and efficiency.
  4. Water Recycling Systems: Finance the installation of water reclamation systems to reduce water usage and environmental impact.
  5. Detailing Stations Setup: Use the advance to set up dedicated detailing stations equipped with tools for deep cleaning, polishing, and interior detailing.
  6. Customer Waiting Lounge Enhancements: Invest in creating a comfortable and inviting waiting area with amenities like Wi-Fi, seating, and refreshment options.
  7. Undercarriage Cleaning Equipment: Direct the funds to acquire undercarriage cleaning systems for removing dirt and preventing rust, crucial for areas with heavy snow and salt use.
  8. Mobile Valeting Units: Use the capital to establish mobile valeting services, expanding your business reach to office complexes, residential areas, and events.
  9. Protective Coatings Application Tools: Finance the purchase of equipment for applying ceramic coatings and paint protection films, offering premium services to customers.
  10. Employee Training Programs: Invest in comprehensive training for staff on the latest car wash technologies, customer service, and safety protocols.
  11. Marketing and Branding Initiatives: Use the funds for targeted marketing campaigns to attract new customers and build brand loyalty.
  12. Point-of-Sale (POS) and Booking Systems: Direct the capital towards modern POS systems and online booking platforms for streamlined operations.
  13. Energy-Efficient Lighting and Heating: Finance upgrades to LED lighting and energy-efficient heating systems to reduce operational costs.
  14. Security Systems and Surveillance: Use the advance to enhance security with surveillance cameras and alarm systems, protecting your assets and customers’ vehicles.
  15. Signage and Visual Branding: Invest in eye-catching signage and branding elements throughout your facility to strengthen brand identity.
  16. Specialized Services for Motorcycles and Boats: Use the funds to offer specialized cleaning services for motorcycles, boats, and other recreational vehicles.
  17. Seasonal and Promotional Packages: Direct the funds to develop seasonal cleaning packages and promotional offers to attract customers year-round.

Express Car Wash Advance Example

Let’s say you need $32,000 of car wash business cash advance to install a new Conveyor System and add another car wash bay to express car wash business. If you are approved for $32,000 and receive a funding offer with a factor rate of 1.175 and a holdback percentage of 15% of daily credit card sales, your total repayment amount will be $37,600 (Total Repaid Amount).

Advance Amount$32,000
Factor Rate1.175
Avg Monthly Credit Card Sales$23,000
Holdback Percentage15%
Daily Credit Card Sales$766.67 per day (approx.)
Daily Payment Amount$115 per day (approx.)
Repayment Term (in days)Approximately 278 days
Repayment Term (in months)Approximately 9.27 months
Total Repaid$37,600 (Total Repaid Amount)

Car Wash Business Funding Eligibility

To be eligible for funding from MCashAdvance you must meet these 5 criteria:

  1. Your car wash establishment must have been operational for at least 6 months.
  2. Your car wash business should be generating a minimum of $100,000 per year in revenue.
  3. As the car wash owner, your personal FICO score needs to be 550 or higher.
  4. Your car wash service must utilize a business checking account.
  5. You, as the car wash proprietor, must be over 18 years of age and a U.S. citizen.

How to Get a Car Wash Advance from MCashAdvance

To get an advance for your car wash business from MCashAdvance, follow these 5 steps:

Step 1: Begin Online Application: Click Apply for an MCA to begin.

Step 2: Fill in Your Details: Provide information about your car wash business and some personal details as the owner of the business.

Step 3: Submit Bank Statements: Upload the last three months’ bank statements of your car wash business.

Step 4: Await Review Process: One of our underwriters will review your cash advance application to determine eligibility for funding.

Step 5: Receive Offer and Funding: Once you get a funding offer, review it. If it suits your business needs, accept it, sign the MCA agreement and the funds will be deposited into your business account.

Get a Car Wash Business Advance Now

or learn more about merchant cash advance funding

Car Wash Business Funding FAQs

Can car wash businesses get an SBA loan?

Car wash businesses can potentially qualify for SBA loans, with options like the SBA 7(a) Loan, SBA Microloan, and SBA Express Loan being available to provide financial support tailored to their industry.

Can car wash services get invoice financing loans?

Invoice financing is less common in car wash services, as they typically receive payment at the time of service. However, if they offer fleet washing services to businesses and issue invoices for those services, they might qualify for invoice financing.

Do banks lend to car wash businesses?

Banks typically require car wash businesses to have at least two years in operation, a FICO credit score of 680 or higher, three years of cash flow records, and a well-structured business plan outlining fund usage. Meeting these criteria increases the likelihood of banks approving a loan for your car wash. If you can’t meet these standards, alternative lenders like MCashAdvance may offer more accessible eligibility criteria for obtaining financial support for your car wash.

How does car wash equipment financing work?

Car wash businesses can invest in equipment like automated car wash systems and use the automated car wash systems as collateral to secure financing. At MCashAdvance, you can obtain automated car wash systems using our advances without having to use the equipment as collateral.

Can car wash businesses get business lines of credit?

Yes, car wash businesses can obtain a business line of credit if they meet specific criteria tailored to the car wash industry. Qualifications often encompass having a FICO credit score of 660 or higher, a minimum of one year in the car wash business, and maintaining monthly revenue exceeding $5,000 as a car wash provider.

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