SBA 504 Car Wash Feasibility Study in Utah
What SBA's own loan files show about SBA 504 lending to car wash projects in Utah, and what a feasibility study for an SBA 504 loan there has to test.
Size and standing of the Utah car wash record
The Utah car wash cell holds 39 loans under SBA 504, $39.3 million in all, from FY2017 through FY2026. Utah is 8 among states by car wash loan count, while Utah holds car wash at 9 of 39 among its classes. Utah borrowers took a median of $801,000, which is 0.73x of the figure that car wash borrowers elsewhere receive, in Utah, below the SBA 504 norm for car wash. The central half of Utah loans starts at $380,500 and, for car wash, tops out near $1.3 million; 2.6% of Utah car wash loans carry a franchise flag.
Utah holders and counties
By car wash loans approved in Utah, Mountain West Small Business Finance (30; $27.4 million); Intermountain Business Lending, Inc. (5; $7.6 million) come first. SBA lists each Utah car wash holder as current. Geographically, Salt Lake (12), Davis (6), Utah (6), Weber (6) and Cache (5) lead Utah car wash lending.
How the car wash pipeline moved
Utah car wash approvals per year: FY2017 7 ($9.6 million), FY2018 3, FY2019 7, FY2020 3, FY2021 3 ($4.0 million); then for car wash in Utah FY2022 3, FY2023 3, FY2024 4, FY2025 0, FY2026 6. The top Utah dollar year, $9.6 million, was FY2017. In FY2025, Utah saw no car wash approvals.
How Utah loans ended up
Utah car wash cancellations run at a floor of 9.1% for FY2017 to FY2024 approvals, or 9.1% if undisbursed car wash lending is counted in. Charge-offs of Utah car wash loans are withheld: Utah funded too few car wash loans in Utah, so no rate is printed in Utah for FY2017 to FY2021, and that missing rate should not be read as a zero.
Fixed assets and an Utah wash
A wash financed under SBA 504 is a real-estate-and-equipment bet, and an Utah study should justify the parcel: traffic, access, competing washes, and the growth of surrounding housing that feeds subscriptions. Drought, water rights and permitting deserve candid treatment in a dry state. Equipment and construction cost belong beside the $801,000 median, coverage should be shown at modest volume, and the appraiser will want to know the building's value if it stopped being a wash.
Utah washes under one code
Mobile washes, truck washes and car washes are coded together, so these Utah totals cannot tell a conveyor tunnel from a coin-op bay; the study must name the format.
SBA 504 car wash loans in Utah
| Loans approved, FY2017 to FY2026 | 39 |
|---|---|
| Gross dollars approved | $39.3 million |
| Median loan | $801,000 |
| Middle half of loans, from | $380,500 |
| Middle half of loans, to | $1.3 million |
| Franchise share of loans | 2.6% |
| Rank among states for SBA 504 car wash loans, by number of loans | 8 |
| Rank of car wash among classes in Utah | 9 of 39 |
| Median loan against the national SBA 504 median for the class | 0.73x |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | 9.1% |
|---|---|
| The same, counting loans still undisbursed as cancelled (a ceiling) | 9.1% |
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | not reported: fewer than 30 loans in the cohort |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
SBA 504 car wash loans approved in Utah, by fiscal year
| Fiscal year | Loans | Dollars |
|---|---|---|
| FY2017 | 7 | $9.6 million |
| FY2018 | 3 | $3.4 million |
| FY2019 | 7 | $7.1 million |
| FY2020 | 3 | $1.9 million |
| FY2021 | 3 | $4.0 million |
| FY2022 | 3 | $2.8 million |
| FY2023 | 3 | $4.5 million |
| FY2024 | 4 | $2.3 million |
| FY2025 | 0 | $0 |
| FY2026 | 6 | $3.7 million |
Most active SBA lenders
| Lender | Loans | Dollars |
|---|---|---|
| Mountain West Small Business Finance | 30 | $27.4 million |
| Intermountain Business Lending, Inc. | 5 | $7.6 million |
Where the loans are, by county
| County | Loans |
|---|---|
| SALT LAKE | 12 |
| DAVIS | 6 |
| UTAH | 6 |
| WEBER | 6 |
| CACHE | 5 |
| IRON | 1 |
| SANPETE | 1 |
| WASATCH | 1 |
| WASHINGTON | 1 |
Car and truck washes, including mobile washes, share one code. Shared code: Truck washes share 811192.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; Loan Analytics loan-outcome cell SAP-UT-C02-504.
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