Did you know that you can find grant funding to help you open your laundromat? Startups can find money to begin their businesses within a number of different organizations. Though it may require additional effort to locate the available grant funding, obtaining money to open your business that you don't have to pay back can help start your laundromat off with a strong financial base. Knowing where to start your grant search can be difficult so keep reading for some tips on how to begin.
Various groups and organizations will offer grant funding for small businesses. There are also grants that can be obtained for using specific technology in your business or grants that will be awarded based on the location of your business. Here are some organizations and categories that you can access to begin your search for grant money.
Green Technology Grants
When it comes time to outfit your laundromat with equipment, choosing eco-friendly options may allow you to qualify for green technology grants. Installing green technology in your laundromat can help you earn free money for your business and it can save you money in the long run. The latest in eco-friendly technology from Speed Queen and Continental can decrease your energy costs and reduce your laundromat's impact on the environment. These green technology grants are available under the American Recovery and Reinvestment Act.
Small Business Association (SBA) Grants
While these grants may require you to match the amount of the grant with your own money, when it comes time to open your laundromat the SBA should be the first place you check for grant money. If you are a woman looking to open your own laundromat, the SBA's Women's Business Center is another avenue to consider.
Local Grant Funding
Community grants are often sponsored by large banks who are interested in improving the community, protecting the environment, or preserving neighborhoods within the community. Check with local small business groups or local banks to see what kind of grants are available in your community.
Grant Funding by Non-Profits
To qualify for these grants, your business will typically need to be considered tax exempt and be a 501(c)3. Opening your laundromat with a way to serve the community in mind can help you secure these types of grants and qualify for beneficial tax breaks. When you create your business plan, consider adding in programs that serve the homeless, victims of domestic violence, or those impacted by natural disasters or house fires.
Alternative Wascomat Dealers in Greensboro, NC for 2018
At T & L Laundry Equipment we know that the startup costs for a laundromat can be intimidating. Our customers benefit from our more than 40 years of industry knowledge in both selecting the right equipment and getting the financing they need. Getting your financing together early in the process of purchasing your laundromat can help ensure that your project will be completed on time.
Even though we're not Wascomat dealers in Greensboro, NC, first time laundromat owners can count on T & L's experience when it comes to the selection and layout of equipment. From choosing the right colors, seating, and folding tables to selecting the right location our staff can help you make the best decisions for your business. Call or come by the showroom today and learn more about how to get started with your coin-op business today!
