Where can you get financing for a laundry?
One of the best sources for laundry financing is a Small Business Administration (SBA) loan program. Also check with your local and state governments. Many have established programs for new business in targeted areas. Find an SBA office in your area.
- SBA small business financing: www.sba.gov/services/financialassistance/index.html
- America’s Small Business Development Center Network
- Locate prime rate via the Wall Street Journal or Bloomberg.
- Determine your monthly payment with a loan calculator or amortization calculator.
- For a list of common real estate financing terms, click here.
Real Estate Tracking
Per CLA’s 2006 Industry Survey, 46% of laundry owners have purchased the building in which their facility resides. If you are looking to buy a building for a new facility, you will want to track what is happening in commercial real estate.