Laundry Equipment Financing and Store Financing
There are many options out there for veterans and newcomers to the industry.
Laundry equipment financing for a brand-new laundry is considered by banks as venture capital, which is a market in which they are not typically involved. Being regulated by the government, most banks are precluded from using bank funds for start-up businesses‚ unless they have 100 percent collateral outside of that business. For owners who are building an additional store, such as a second or third laundry, this loan would no longer be considered a start-up. It would often be referred to as an expansion and banks have more leeway in this case.
With tens of thousands of independently owned businesses nationwide, laundromats supply an indispensable service to their communities. Each owner manages numerous financial responsibilities, making financing a beneficial option for many businesses to maintain or improve their facilities.
We have the ability to help out coin-operated laundry businesses, especially when they are looking for a bit of a financial boost. Seeking out financing doesn’t need to be hard, so knowing where to turn in the time of need can be quite important. With so many reasons to increase funding, it could end up being a good decision. Examine the multiple options we provide, and it could make a significant difference in how the business’ finances are conducted.