How to finance a laundromat using SBA financing [SBA 7a or SBA 504]

How to finance a laundromat using SBA financing

Hi Beau, I am looking at purchasing an established laundromat in my town. It also includes the real estate. The real estate is being sold for $650,000 and the machines and business are another $300,000.

What would be the best SBA financing options for this situation?

Thanks, Angie

Timestamps
[00:29] Things to look at when buying a business with real estate
[00:37] Business acquisition versus the real estate
[00:45] The real estate needs to be at least 51% or more of the total purchase price to do 25-year term
[00:50] Is the real estate more advantageous than business acquisition?
[00:59] What do you have to do if the real estate is less than 51% of the value?
[01:11] Maximizing the cash flow
[01:27] Doing blended ratio
[01:59] SBA 504 is better for bigger deals
[02:35] The goal is to refinance within the next three years when the prepay expires

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#sba7a #sba504 #laundromat

_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
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