Laundromat Financing
Offering the best and most affordable solutions for small and medium-sized laundry businesses looking for laundromat equipment financing assistance.
Laundromat Equipment Financing Solutions
Charter Capital has been helping businesses set up and expand their operations for over 40 years and is one the most trusted sources for equipment financing. Our team has worked with many budding and growing laundromat business owners to choose and acquire the best solutions for their ventures. We are committed to helping you grow and succeed.
Here are a few examples of what we’ve helped finance in the past:
- Heavy-duty washing machines and dryers
- Coin-operated and digital laundry equipment
- Bill-to-coin changers
- Laundry soap and detergent dispensers
- Vending machines for drinks and snacks
- Transportation for pickups and deliveries
- Laundry business furniture
- All types of commercial laundromat equipment
At Charter Capital, our objectives are simple: to obtain your trust and confidence by sharing our wide knowledge of the laundromat business and simplifying the leasing and financing process.
Borrowing for your business might sound like a daunting process, but it shouldn’t be. We are here to assist in all ways possible. Let the Charter Capital team guide you to the right laundromat financing product with the right payment terms and conditions for your business.
Some of our customers...
- Are interested in the lowest rate
- Are interested in a specific tax treatment
- Want to avoid breaching existing lending covenants
- Are interested in the longest term
- Are interested in getting reimbursed for the equipment they have already paid for
- Want seasonal or other cyclical structures
- Want to finance software
- Want us to give the seller a deposit before the equipment is shipped
All of our customers want a fair deal at a fair price and with no surprises.
Types of Laundromat Equipment Financing We Provide
Charter Capital is committed to exhausting all means available to provide the best financing products and terms for your laundry businesses. Here are some of the laundry financing products we offer:
On-site Laundry
Do you own an inn, hotel, sports complex, healthcare facility, or any other business that necessitates on-premise laundry? We provide financing assistance for businesses of any size and wash volume, whether you’re looking for a simple washer and dryer or industrial-grade equipment.
Vended Laundry
Are you setting up a new laundry shop or buying an existing one? Whichever it is, you will likely need to either buy new equipment or update the old ones with more efficient machines. The laundromat financing process is a lot easier and fuss-free with Charter Capital.
Multi-Route or Location Laundry
You can grow your laundry business to operate in multiple locations by setting up vended washing and drying machines at strategic places. Charter Capital provides financing assistance to laundry business owners who want to have a presence at apartments, university dorms, shared housing, and similar residential complexes.
Getting Laundromat Equipment Financing With Poor Credit
If you have a credit score of under 650, you might find it difficult to secure a loan for your laundromat business. However, you are not banned from getting the financial help you need. Winning approval from traditional lenders might prove challenging, but there are companies that can assist in purchasing your much-needed equipment even if you have bad credit.
How do you find the money you need for your laundromat equipment with a poor credit score?
Tap all options available.
Beyond taking out a loan, is there any other way to get the machines you need? Do you need the equipment right now, or can you wait a while so you can build your credit score back up? Research on alternative equipment financing solutions that can be available through other means.
Get your paperwork organized.
If you have poor credit, presenting your laundromat business’s profitability is a great way to prove to lenders that you have the capacity to pay. Consolidate your financial records, including your quarterly or annual statements, cash flow report, profit and loss report, and other relevant data to show that your business is healthy. If you are just starting out, you can provide proof by presenting your income statement or offering collateral.
Work with a trusted financial broker.
Many owners of startups or growing businesses feel like they don’t have a choice but to wait things out if they have bad credit. It doesn’t help either that some loan providers take advantage of this urgent need by slapping them with exorbitant interest rates and unreasonable deals.
The best solution is to work with a professional financial broker who genuinely looks after your best interests. You might be surprised to know that there are private lenders who are more than willing to partner with you to help you succeed. At Charter Capital, we help business owners with bad credit need to start fresh and gain back their business confidence.
We represent you to the equipment financing industry to boost your chances of obtaining approval. Charter Capital has relationships with thousands of lending providers in the US, enabling us to find the perfect match to meet all your laundromat equipment financing needs. Contact us today to learn more about how we can help your laundry business grow and succeed.