Financing

Do you see new laundry equipment in your future?

One of the services we provide is financing solutions.

No matter what your situation:

• In need of a single new piece of laundry equipment for any type of business?  
• Opening a new coin laundry?
• Buying an existing laundry?
• Refitting an existing laundry?
• New or experienced operator? 

When it comes to financing laundry equipment, we have found that you will be best served by people experienced with your particular business.  We have excellent resources for getting equipment for your business financed whether it is one piece or one hundred, whether it is a washer extractor or a water heater.

Finance Program Advantages

Service and Experience

On account of the overall cost and service life of laundry equipment it is very often financed.  This is true for businesses whose main focus is not laundry for the purpose of smoothing cash flows and is also true for the coin laundry model where the initial investment is balanced with the over all cost of the project.

Frequently with larger projects like whole coin laundries, the financing process is a complete one, including feasibility study and forecasting which contributes to the extremely low failure rates of self serve laundry businesses.  We at T&L Equipment are familiar with current programs, the financing process of those programs and have relationships with financing professionals within our industry.  Our business and your success depend on that.  Therefore, standard procedure is that we perform the parts of the financing process that are based on our industry expertise and also help our customers with their part like understanding and filling out the credit application as well as understanding the terms and characteristics of the final contract.  

Nervous about being successful with your investment?  Call us and we will walk you through how the business works from the financing to the floor tiles. 

Attractive Rates

Like with anything else, financing rates on laundry equipment vary with time and available special offers.  Rates tend to be competitive but the main difference between a bank financing your project and say the equipment manufacturer is that the bank will not finance as much of the project as the equipment manufacturer or one of our other sources familiar with the business.  We have also maintained access to financing even through the bank crisis of late 2008 to early 2009.

Ease of Use

Credit applications are relatively easy to fill out and consist of 2 pages for larger projects like coin laundries and only 1 page for purchases under $100,000.  Again, we are here to help coordinate credit approvals.

Fast Credit Decisions

Most credit decisions are made within 24 to 72 hours after receiving a completed application. For established businesses or veteran business owners looking for less than $100,000, most credit decisions can be made the same day we receive the application.

Variety of Program Options

Either by using different financing sources or by exploring the available possibilities from one source, we usually have options when financing laundry equipment.  We can help you find a program that will fit your individual needs.

Eligible Equipment

Don't spend a lot of time at the bank trying to explain the industry to them.  In most cases, financing can be obtained for up to 100% of the price of our equipment, plus an additional 20% for ancillary equipment (water heaters, soap dispensers, furniture, etc.) and freight and taxes.

2-10 Year Terms

Laundry equipment financing ranges from 2 years to as long as 10 years with some programs.  Most frequently there have not been fees for paying early or paying extra on the principle.  Flexible programs and monthly payments tailored to either a monthly budget or projected income are another advantage of working with T&L Equipment.

Getting Started

You can contact T&L Equipment for help with the below credit applications or submit completed credit applications to T&L Equipment by fax, email, mail or in person.  You can also send completed credit applications directly to the factory.  Even if you are just starting your investigation into a laundry business, it may be helpful to get a preapproval.

Secure Online Credit Application (sent directly to the factory) Click Here

Credit Application (less than $100,000 financed) Click Here or Right Click to download

Credit Application Supplement (more than $100,000 fianced) Click Here or Right Click to download