Refinancing Your Car Wash

There are two major criteria and a number of lesser ones that a bank or finance company uses to determine the refinancing loan amount.

First, the operating cash flow of the car wash business prior to the loan payments must exceed the anticipated loan payments by a comfortable margin.  The cash flow is calculated using the the most recent federal income tax return, the prior federal income tax return, and the present year-to-date Income (P&L) Statement.

Second, the maximum loan size cannot exceed the lender's predetermined loan-to-value ratio, typically expressed as a percentage, such as 80%.

Before you call us please do a basic refinancing analysis yourself.  Click the link below, which will allow you to open a simple Excel worksheet on your computer.     

This is the link to the refinancing worksheet:  Car Wash Refinancing Worksheet .

If you don't have Excel, Open Office will allow you to open, change, and save Excel workbooks just like Excel.  Click here to get Open Office for free:  Get Open Office .  You only need the 'Calc' program to complete the worksheet but you may want to try other Open Office programs.  You can select only the programs that you want to download.

Please complete the worksheet before you call us about refinancing your car wash.  This will allow us to serve you better and faster.

You can fax or e-mail your completed Refinancing Worksheet(s) to us so that we can be prepared  for your call.

Sometimes car wash owners who want to refinance have bought or sold a car wash or car washes during the most recent income tax year or during the present year.  These situations may require a customized analysis and are considered on a case-by-case basis.

We want to refinance your car wash!

Alan Bussey     Car Wash Loans     903-876-2308     fax:  484-737-1092

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© Copyright by Alan L. Bussey     1999     All Rights Reserved.
This page updated 03.08.2010.