Use this checklist to assess businesses in this industry for SBA 7(a) lending and underwriting.

Revenue Verification

• Are revenue estimates backed by machine logs or coin counts?
• Are card-based or app-based sales reconciled?
• Are vending, soap, or service machines included in revenue?
• Are seasonal or cyclical patterns disclosed and normalized?

Owner Labor & Involvement

• Does the owner handle coin collection, cleaning, or minor repairs?
• Is janitorial or repair labor paid and documented?
• Has labor been normalized to reflect true replacement cost?
• Are hours of owner involvement disclosed?

Lease Terms + Real Estate

• Is the lease below market rate or nearing expiration?
• Are rent escalations disclosed?
• Is the property owned, or subject to separate acquisition?
• Has rent been adjusted to market in cash flow analysis?

CapEx + Equipment Review

• Are washer/dryer ages and models disclosed?
• Is there a history of machine repair/replacement?
• Are bill changers, kiosks, and vending machines in good condition?
• Has CapEx been normalized to reflect replacement cycle?

Red Flags

• Revenue estimated without meter logs or POS reporting
• Owner is performing daily cleaning or collections
• Deferred CapEx or out-of-service equipment
• Lease has less than 3 years remaining and no renewal option

SBA SOP Tip

Valuations must normalize for owner labor, reflect true lease terms, and account for CapEx required to maintain unattended equipment. Self-serve businesses must show verifiable, transferable cash flow.