How to Get SBA Financing for Your Startup Laundromat

How to Get SBA Financing for Your Startup Laundromat
[Startup Laundromat SBA Financing]

Question: Hi Beau,

I've been encountering difficulties in locating a bank that provides startup funding for a laundry business, especially without any prior experience in the field. Could you offer any advice or direction on how to secure financing for such projects?

Thank you, Adan

Are you an entrepreneur or business owner looking to buy or expand a business? Book a discovery call with Beau to learn all the ways he can help you - https://investorfinancingpodcast.com/rumble

Timestamps:
(00:29) The challenges of securing funding for laundry startups
(00:40) Compensating factors like credit profile, collateral, and the importance of a well-prepared business plan
(01:00) Importance of understanding demographics and competition in the area for the business plan
(01:10) Encouragement to spend time developing the business plan for better loan approval chances
(02:12) Additional factors such as reserves and Equity injection

💥 Thanks for watching 💥
#startuplaundromat #SBAfinancing #laundromat

About Beau: Beau Eckstein is a franchise consultant, commercial mortgage advisor, and business ownership coach who helps entrepreneurs buy, build, and expand their businesses. He assists aspiring entrepreneurs in finding their ideal franchise or business opportunity. Beau's expertise as an investor and business owner allows him to guide clients through the entire process of acquiring, funding, and growing their ventures.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.

About the Channel: Want to structure your investments in the right and secure way?

Learn great insights and make the right decisions through the Investor Financing Podcast hosted by Beau Eckstein.