Laundromat Resource › Forums › Financing › How to increase value? › Reply To: How to increase value?
Awesome questions. Unfortunately, a lot of the answers are “It depends.” There definitely are some lenders out there that will refinance a loan and even loan you more than you currently owe. It just may be some work hunting them down. I suggest starting with laundromat-familiar lending agencies like Alliance and Eastern Funding, and also with smaller banks and credit unions. Definitely let me know if you’re able to make progress on it, though. I’ve never tried.
In terms of adding value to the laundromat, I would start with making the laundromat more clean, comfortable, and appealing to customers and maybe doing some advertising and promotions to get people to come to your laundromat. We also have a free value-add checklist that you can download for free at:
Hope that helps!