In the last post, we talked about the cost to start a laundromat. It’s expensive! However, you may be able to apply for grants to start your business. They can help offset the cost of starting a business. Grants are funds that are given to you for meeting certain requirements and do not have to be paid back, unlike loans. There are several options you can look into in order to get help funding your new venture. Let’s take a look at a few of them. Are you searching for Dexter dealers in Greensboro, NC? We hope you'll consider working with a Continental and Speed Queen dealer instead! Call T & L today! You'll love our friendly service, unbeatable expertise, and affordable pricing.
Applying for Small Business Grants
First, look locally. There may be city grants available to people who are opening businesses in areas city officials are hoping to develop or renovate. These community grants help people start businesses that can increase value in the area and offer valuable community services. For instance, Bank of America has a program called Neighborhood Builders that helps preserve or restore neighborhoods by giving grant money to people hoping to start small businesses in their neighborhoods. It is generally in low income or impoverished areas that need help re-establishing themselves.
If you want to help those in need while running a business, you may be able to get help through nonprofit funding. If you offer services such as laundering services to the homeless at no charge, you may be eligible for nonprofit grants through local organizations. Check out the web site grants.gov to see if you qualify.
Check out the United States Small Business Administration. They offer all kinds of assistance to people starting a small business, including grant and financing options. Visit the website at www.sba.gov to use their grants search tool to see if you qualify for assistance in starting your small business. Note that they may not provide grants for businesses with no community ties, so it is important to develop a strategy for your business that could align it to meet the requirements of a grant.
The SBA also offers loan options that can help someone who may not be able to get financing through traditional means. In some cases, it is in the form of backing from the SBA that guarantees to the lender that you will pay back the loan. These are not grants, but loans that do have to be paid back. You can read more at the web site at www.sba.gov.
Another option is to build a green laundromat so that you can qualify for environmental grants. A green business is one that focuses on being environmentally conscious when building a business as well as when it is in operation. Following these practices can help you qualify for grants given to green businesses while it can also help make your business more efficient. There many also be tax breaks for implementing eco-friendly and energy-efficient practices.
Overall, you may be able to secure a grant for your small business with some research. Interested in learning more about owning a laundromat? Check out these linked topics below! You'll be able to read a step-by-step guide on how to become a business owner.
- The First Steps to Owning a Laundromat
- Other Factors to Consider When Buying a Laundromat
- Hiring Laundromat Employees | Contractors vs W2
- Differences Between Contractors and W2 Employees
- Start New, Buy Existing, or Franchise?
- Start New, Buy Existing, or Franchise - continued
- Buying a Laundromat Franchise
- How to Calculate Start-Up Costs for New Laundromats
- Here's What Laundromat Customers Expect
- Here's What It Takes to Own a New Laundromat
- We Can Help You Finance a New Laundromat
We're Not Dexter Dealers in Greensboro, NC, But We Do Have Continental And Speed Queen!
We can help you if you are considering buying a laundromat. Not only can we help with equipment purchases and installation, but we can also help with financing. We're not Maytag or Dexter dealers in Greensboro, NC. However, we have 40 years of experience helping people with their Continental and Speed Queen commercial laundry equipment needs. Let us help you make the right decision when choosing vended washers and commercial dryers in Greensboro, NC. Call us today to learn more about how we can help you start your business.
