Ten questions modeled on the actual underwriting criteria used by SBA 7a Preferred Lenders for laundromat acquisitions: credit score, down payment available, debt-to-income, time in industry, deal size, business cash flow coverage, collateral position, citizenship status, prior bankruptcies, and use of funds. Output is a pass/conditional/improve report with specific gaps to close before applying.
Why This Matters
SBA 7a applications take 45–90 days and require thousands of dollars of borrower-paid expenses (appraisals, environmental, legal). Applying when you're not ready wastes that money and creates a denied-loan record that complicates future applications. The quiz catches the most common disqualifiers before you spend.
What to Do With Your Score
Pass — proceed to the Funding Matcher to be introduced to an SBA-fluent lender. Conditional — close 1–2 specific gaps (typically credit score boost or down payment shortfall) before applying. Improve — work on the foundation for 6–12 months. The report includes specific action steps for each gap.
Frequently Asked Questions
Will my answers be shared?
No. The quiz is anonymous and answers are not stored unless you save your report to your WashBizHub account. We never share individual quiz answers with lenders or third parties.
Is this an actual SBA application?
No. This is a pre-application readiness assessment to help you understand whether you're a viable SBA 7a candidate before investing time and money in a real application. The actual application happens through an SBA Preferred Lender after you complete the Funding Matcher.
What if I fail the quiz?
A 'fail' isn't a final no — it's a roadmap. The most common gaps (credit score, time in industry, down payment) can typically be closed in 6–18 months. The report includes specific action steps and a recommended re-take date.