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Im an SBA 7a loan officer (dont hate me). You have to close your loan by the end of September 2021 (not just have it approved) in order to get the 6 months of having your payments made by the SBA. Its capped at $9,000 per month btw. My understanding is yes the EIDL loans can be forgiven if...

If you are going to build a wash and if you need a loan to do so it will be really tough to build a self serve as the projected cash flow wont likely be enough to debt service the loan. Unless you are going to come in with a really high down payment. But your ROI will likely be really bad.

My humble thoughts on this is you have to have an average location and the condition of the wash and the quality of the washes themselves have to be average in order for your gross and net income to be average. Meaning if you buy a subpar wash in bad condition and do not renovate it then the...

Yes, I think you are going down the right path. We normally use daily traffic count times a capture rate of 1% times 300 days a year you can wash a car, to figure out the annual number of cars you should wash. If you are in a dryer area then you might be able to use 310 or 320 days a year...

Hey Bob, Thanks again for the consideration and it was good talking shop with you. Let me know if you end up deciding to get more of a traditional bank loan. Thanks, Jeff 248 885-8797