Financing, Lending & Leasing
One of the many questions that the Coin Laundry Association receives is, "Where can I get financing for a laundry?" There are many options for veterans and newcomers to the industry.
One of those sources 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.
Alternative Financing
- How to Cope with the Credit Crunch
Source: Wall Street Journal, September 28, 2008
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.
Read the Wall Street Journal’s articles on the most recent trends and transactions in the retail and commercial sectors.
