Home Forums Financing First Laundromat Financing ?

Tagged: 

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #16576

    Trying to jumpstart my dive into my first laundromat. I’ve been looking into some already established and for sale and just wondering if I should contact brokers for one that I’m interested in first or if I should secure SBA or other type of loan first ? I have some cash to put down but know would need financing for the majority part of purchase and renovation

    • This topic was modified 4 months, 2 weeks ago by Alvin Espino.
    #28345
    Emzy Barkus
    Participant

      I was wondering is there someone that you could have me contact in my area to proceed with my first laundromat and you know just to talk to into give me insighting and what I need to do

      #28678
      Heather Wilson
      Participant

        I am also starting this journey. Today I’m working on financing and contacting Prime Capital’s Chris Michakel. He was on a few podcasts with Laundromat Resource. Their website is http://www.goprimecap.com.

        #28737
        CHoward546
        Participant

          Hi,

          I also need insight on Financing a laundromat. I am interested in a Laundromat and reached out to the broker and signed the NDA. I have that information and will make an appointment to meet the owner. What I need at this point is to understand the financing part. I do see a post for Financing. I will reach out. Can someone let me know if there is anything else I need to know? This is the beginning of my dream and heart’s desire and need guidance.

          #28753
          Reginald Coghlan
          Participant

            It’s wise to explore both options simultaneously. Contacting brokers to inquire about laundromats for sale can give you a clearer picture of what’s available in the market. At the same time, start exploring financing options like SBA loans to understand the terms and conditions you might qualify for. This dual approach will help you gauge the feasibility of your venture and make informed decisions about the purchase and renovation process. Feel free to engage with both brokers and lenders to gather as much information as possible before making a decision.

          Viewing 5 posts - 1 through 5 (of 5 total)
          • You must be logged in to reply to this topic.