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2 Replies Last post: Sep 2, 2008 11:33 AM by Fortis

Laundromat

Sep 2, 2008 10:15 AM

oflemone 1 posts since
Sep 2, 2008

I am looking to purchase a laundromat in Montgomery County, MD. My first business purchase. Any suggestions, advise, or comments will be appreciated.

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LUCKIEST 7,926 posts since
Aug 6, 2007

1. Re: Laundromat Sep 2, 2008 10:37 AM

Laundromat, Welcome

Good luck. Do you want to share some background info??

What kind of suggestions are you looking for??

Do you know about SCORE?? SCORE is FREE and can help.

LUCKIEST

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Fortis 239 posts since
Jul 24, 2008

2. Re: Laundromat Sep 2, 2008 11:51 AM

Well startup money is some of the hardest money to acquire even if the business has been up and running under previous ownership. As a new owner you are considered a startup for 2 years.

Startup companies finance several ways. Barrowing money from friends or family, investors, equipment financing, and SBA loans. There are probably a few more options but these are some of the more common routes we see as a lender.

SBA loans are some of the greatest options for larger sums of money and they come with very competitive rates..

How much will you need in order to purchase the business?

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This Question is Possibly Answered

Laundromat

Sep 2, 2008 10:15 AM

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