Home Forums Financing Timing is everything!

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    There is one area I just have not found a good answer for. Say I have found a place to lease a laundromat at, but the equipment is either not there, or needs updating badly. How can I be sure I will get a loan for the amount I need for the equipment/install, and with supply being so backed up, how long can I expect to wait before my equipment order is ready to be installed? I’ve heard as long as 12-18 months??? I’ve been told not to reach out to a distributor until I have the property leased. So am I supposed to just pay rent in an empty building until the equipment can be installed? Is there something I’m not considering? How do you overcome this situation?

    In summary, lets assume I am already leasing a location set up for a laundromat, but with no equipment. What is my next step, or what steps should I have already taken to ensure I am able to open the doors for business within a reasonable time? The most ideal scenario I have in mind is to be open within 3 months of signing a long-term lease. Is this realistic?

    Thanks yall! God bless!

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