CHEM-DRY: how its 34 SBA loans actually performed
Carpet and Upholstery Cleaning Services · 34 units financed with SBA 7(a) loans since 2010 · 24 lenders have funded this brand.
6 of 26 owners defaulted on their SBA loan
That is 23.1% — roughly 4 times the 5.7% average across all SBA 7(a) loans. It does not make this a bad business. It makes it an expensive one to finance.
How this brand compares
share of owners who defaulted within seven yearsWho lends on it
most active lenders, 2010 onward| Lender | Units funded |
|---|---|
| Celtic Bank Corporation | 5 |
| U.S. Bank, National Association | 3 |
| CoVantage CU | 2 |
| Zions Bank, A Division of | 2 |
| The Bank of Missouri | 2 |
| Stearns Bank National Association | 2 |
24 lenders have funded CHEM-DRY since 2010. Fewer active lenders means less competition on your rate.
A note on sample size
CHEM-DRY is a smaller-sample brand: 26 of its SBA loans are old enough to judge (our flagship brands have 60+). The default rate above is a real count, but read it as a signal rather than a verdict — with 26 loans, a handful of outcomes moves the number. We omit the year-by-year breakdowns shown on larger brands, which would be noisy at this size.
Common questions
How many CHEM-DRY SBA loans have defaulted?
6 of 26 seasoned CHEM-DRY SBA 7(a) loans charged off within seven years — a 23.1% default rate, against 5.7% across all SBA 7(a) loans.
Is a CHEM-DRY franchise a safe SBA loan bet?
By the numbers its default rate is above the SBA-wide 5.7% average. That is a financing signal, not a verdict on the business — and with 26 loans it is a smaller sample than our flagship brands.
Which lenders fund CHEM-DRY franchises?
24 lenders have made SBA loans to CHEM-DRY since 2010, led by Celtic Bank Corporation.