I am new to this and trying to absorb as much information as possible. I am in central FL and many laundromats are around the $250k and up price range. My wife and I have no debt other than our home which is modest. If we make around 150-200k a year together and have 800 plus credit, how hard would a VA SBA loan be to get? Any idea on the range of interest rates? We are hoping to have about $100k saved up within the next year. I would rather use as much of the bank’s leverage as possible to keep cash on hand for growing the business, emergency fund, repairs, and general peace of mind until I get the hang of the business. If anyone has any insight or recommended companies I would love to hear about them. Or if you have any other VA programs that I may take advantage of.
Thank you all so much.