Laundromat Financing Solutions
There are many competitive financing solutions available today for acquiring or re-equipping your self-service coin laundry. Western State Design (WSD) can assist you with customizing the best solution for your needs. WSD will assist you in developing an operating proforma and planning the right capital infusion. Financing is available for clients new to the industry, as well as experienced laundry owners. The following are some typical programs:
Laundry Equipment Finance
Many WSD equipment vendors offer attractive Variable and Fixed Promissory Note programs. The Payment Terms and Conditions can vary considerably to meet the requirements of each customer. The financing programs will include equipment costs, hook-up, laundry tenant improvements and equipment installation including start–up.
Leasing Laundry Machines
Leasing programs are available to finance self–service coin laundries, which require no initial down payments. Leasing programs may offer additional tax incentives for the individual investor. Some leases are fixed payment, fixed term and others are structured with lower payments that ramp up as the laundry revenue increases. Both capital and operating leases are available.
Traditional Bank Financing
WSD can assist you with your bank to help facilitate your loan to expand or purchase a new laundry.
Small Business Administration (SBA) Loans
WSD has pre-approved Lenders who know our industry. Generally, the Terms and Conditions of an SBA loan are fixed. However, there are many options available that may be more suitable for your project.
More Details: SBA Loan Programs
Currently, there are many financing solutions based upon your operating proforma and the infusion of capital for acquiring or re-equipping your self-service coin laundry. All options should be considered by any potential investor and operator.