Best SBA Lenders for Laundromats (2026)
2025 FOIA data: top lenders, rates, loan types & states for Laundromats SBA loans
SBA Loans for Laundromats
The Laundromats industry received $284.3M in SBA 7(a) loan approvals across 449 businesses in 2025, supporting 3,952 jobs. With 109 lenders actively funding Laundromats businesses, comparing offers is essential to getting the best rate.
The average SBA loan for a Laundromats business is $633K at an average interest rate of 9.63%, which is 0.69% below the national average of 10.32%. The top lender for Laundromats businesses is Newtek Bank, National Association, with the strongest lending activity in California.
SBA Laundromats Loans by Business Type
Are you starting a new Laundromats business, buying an existing one, or expanding? Here’s how SBA lending breaks down for Laundromats businesses in 2025:
Startups represent 16% of Laundromats SBA loans (70 loans). This tells you whether lenders are comfortable funding new Laundromats businesses — higher startup percentages mean more lender appetite for first-time owners. Business acquisitions account for 27% (120 loans), which includes change-of-ownership deals where someone is buying an existing Laundromats business.
Existing businesses (2+ years old) make up 37% of loans. These borrowers typically receive the most favorable terms because they have established revenue and operating history. New businesses (under 2 years) represent 20% of the total.
Top SBA Lenders for Laundromats (2025 Data)
These are the banks that funded the most SBA 7(a) loans to Laundromats businesses based on 2025 FOIA data, ranked by total dollar volume:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | $5.2M | 23 | 10.64% |
| 2 | Bank of Hope | $8.0M | 17 | 8.75% |
| 3 | The Huntington National Bank | $3.7M | 17 | 10.09% |
| 4 | Readycap Lending, LLC | $6.9M | 14 | 11.16% |
| 5 | Live Oak Banking Company | $11.0M | 11 | 9.41% |
| 6 | Woori America Bank | $6.0M | 10 | 9.35% |
| 7 | Byline Bank | $4.2M | 9 | 10.45% |
| 8 | TD Bank, National Association | $4.0M | 9 | 10.23% |
| 9 | Lendistry SBLC, LLC | $3.3M | 8 | 11.78% |
| 10 | Hanmi Bank | $9.5M | 6 | 9.17% |
| 11 | New Millennium Bank | $3.8M | 6 | 8.75% |
| 12 | Celtic Bank Corporation | $2.3M | 6 | 9.75% |
| 13 | Global One Bank | $8.1M | 3 | 8.67% |
| 14 | NewBank | $3.5M | 3 | 9.25% |
| 15 | Pinnacle Bank | $3.8M | 3 | 9.33% |
Lenders at the top of this list have funded the most Laundromats SBA loans, which means they have underwriting experience with this business type. They understand the revenue patterns, typical deal structures, and collateral norms specific to Laundromats businesses — which often translates to faster approvals and better terms.
Get Matched with the Best Laundromats SBA Lender
GoSBA works with 50+ SBA lenders, including the top Laundromats specialists above. One application, multiple competing offers.
Variable vs. Fixed Rate Breakdown
Variable rate SBA loans are tied to the Prime Rate and adjust quarterly. For Laundromats businesses, 86.5% of loans carry variable rates. Fixed rate loans offer payment certainty but are less common. The SBA caps variable rates at Prime + 2.75% for most loans.
Loan Term Breakdown
Long-term loans (typically for commercial real estate purchases) carry lower rates averaging 9.18%. If your Laundromats deal includes property, you may qualify for a 25-year term at a lower rate. Short-term loans for working capital or business acquisitions average 9.87% with 10-year terms.
Top States for Laundromats SBA Loans
| State | Loans | Volume |
|---|---|---|
| California | 62 | $36.6M |
| Texas | 48 | $24.6M |
| New York | 45 | $11.7M |
| Florida | 31 | $4.7M |
| Pennsylvania | 27 | $6.1M |
| Illinois | 27 | $6.0M |
| Georgia | 23 | $6.4M |
| Colorado | 18 | $4.3M |
| New Jersey | 17 | $5.6M |
| Maryland | 15 | $14.1M |
| Ohio | 8 | $3.5M |
| North Carolina | 8 | $3.0M |
| Washington | 7 | $5.7M |
| Massachusetts | 6 | $2.7M |
| Nevada | 5 | $2.5M |
How to Get an SBA Loan for a Laundromats Business
Option 1: Apply directly to one of the top Laundromats lenders listed above. This gives you a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). A broker like GoSBA Loans submits your application to multiple Laundromats-experienced lenders simultaneously. This creates competition for your deal — better rates, faster approvals, zero cost to you.
Frequently Asked Questions
Can I get an SBA loan to start a Laundromats business?
What is the average SBA loan size for a Laundromats?
What interest rate can I expect on a Laundromats SBA loan?
Which bank is the best SBA lender for Laundromats businesses?
Can I use an SBA loan to buy an existing Laundromats?
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Data sourced from official SBA 7(a) FOIA loan approval records for Calendar Year 2025. For official SBA program information, visit sba.gov.
