Laundromat Financing

Faster, easier small business financing with one simple application—no bank needed.

Applying is free and won’t impact your credit.

Reviews from laundromat owners.

Lendio knows laundromat small businesses.

Whether you’re looking to cover operating expenses or expand a laundromat you already own, Lendio has you covered.

A laundromat business can be exciting and lucrative. After all, people always need clean clothes. If you’d like to launch or grow your laundromat, laundromat financing can come in handy. It can provide you with the funds you need to cover a variety of business-related expenses.

Simply fill out one short application to get matched with laundromat financing offers that are right for your unique business. We make the process fast and easy, so you can receive your funds quickly and focus on serving your customers and increasing your profits.

Why Lendio?

Quick & easy

Apply in just 15 minutes and get funded in as little as 24 hours

Your partner in business financing

Get personalized support throughout the funding process. Your funding manager will be with you every step of the way to answer your questions and advocate for you.

Offers tailored to your business

Compare loan offers from multiple lenders. With over 75+ lenders in our network, your funding manager will work with you to ensure you get the best rates and terms for your business.

How our loan matching process works.


Fill out our simple application.

Answer just a few questions about your business to see which lending products you qualify for. We’ve partnered with over 75 lenders, allowing us to find the best option or your business.


We’ll connect you with a funding specialist.

One of our funding specialists will reach out to you to get to know your business better. Since every business is unique, we want to make sure we find the loan type that’s perfect for your needs.


Compare loan offers.

Compare different offers curated for your business. Select the capital amount and rate that will help take your business to the next level.


Get funded.

We work with lenders that can fund you fast. Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

SBA loans for laundromats.

Small Business Administration (SBA) loans can be a viable financing option for laundromat businesses, offering competitive terms and rates. These government-backed loans are designed to support small businesses that may have difficulty securing traditional loans. The SBA’s 7(a) loan program, in particular, can provide up to $5 million, which can be used for a variety of purposes such as purchasing real estate, equipment, or even an existing laundromat. With lower down-payment requirements and longer repayment terms, SBA loans can provide the necessary capital to maintain or grow a successful laundromat business.

Term loans for laundromats.

Term loans are another popular financing option for laundromat businesses. These loans are structured with a specified repayment schedule over a set period, typically ranging from one to five years. The principal and interest rates are generally fixed, offering predictability in repayment amounts throughout the loan term. 

Term loans can be used for a variety of purposes – from purchasing new laundry equipment to renovations or expansions. Lenders often require a detailed business plan and a robust credit history, making this financing option more suitable for established laundromats with a steady cash flow.

Equipment loans for laundromats.

Equipment loans are specifically designed to help businesses like laundromats finance the purchase of new machinery or upgrade existing equipment. With lower credit score and time in business requirements, equipment loans are a great option for laundromats looking for financing. Some equipment financiers will even work with day-one startups. This benefit makes equipment loans a more accessible financing option for small or new businesses that might not have extensive assets.

The repayment period usually aligns with the expected lifespan of the equipment, which can range from 2 to 7 years. However, the interest rates can vary significantly, based on factors such as the business’s creditworthiness, market conditions, and the type and lifespan of the equipment. Thus, while equipment loans for laundromats could potentially save initial out-of-pocket expenses and promote cash flow stability, businesses must assess their repayment capacity and risk tolerance.

Business lines of credit for laundromats.

Business lines of credit also present a flexible financing option for laundromats. A business line of credit works much like a credit card, providing a set amount of capital that businesses can draw from as needed. This type of financing is especially valuable for handling unexpected expenses or cash flow fluctuations common in the laundromat industry. Interest is typically only paid on the funds that have been used, which can make it a cost-effective option. 

Due to their flexibility, lines of credit are often used for operational costs, emergency repairs, or unexpected opportunities rather than long-term investments. Qualifying for a business line of credit usually requires a solid credit score and a proven track record of revenue.

Types of business loans for the laundromat industry.

Revenue-based financing

Also known as a business cash advance, revenue-based financing is when you receive an advance on expected future revenue.


1-15 months

$1 million

Debt financing

Debt financing is when you borrow money for a specified period of time. Two examples of debt financing are term loans, which offer a lump sum of money upfront, and SBA loans, which are partially guaranteed by the U.S. Small Business Administration (SBA).


6 months-25 years

$5 million

Line of credit

A line of credit offers a flexible way to cover expenses for your laundromat. You can borrow as much or as little as you’d like, up to a set credit limit. You’ll pay interest only on the funds you withdraw, rather than the entire amount for which you get approved.


6-24 months

Up to $250,000

Equipment financing

Equipment financing can help you purchase or lease equipment for your laundromat without depleting your working capital. However, be aware that lenders have varying restrictions on equipment types—rely on your funding manager to match you with the right option.


1-5 years

$5 million


While there are no loan products that are designed exclusively for laundromats, there are several types of business financing available that can provide working capital to cover business expenses or facilitate growth for a business in the laundromat industry. These include asset- or revenue-based financing, debt financing, line of credit, and equipment financing.


Requirements for laundromat financing vary by lender and loan type. As a starting point, loan products with lower minimum requirements look for the following: 

  • A credit score minimum of 600 
  • Monthly revenue of $8,000 or more
  • A business history of least six months


Laundromat financing is versatile, meaning you can use it to cover just about any business-related expense. Some of the most common uses include equipment like washers, dryers, and cleaning solutions, marketing, payroll, and expansion costs. Some loan products will have restrictions on what the money can be used for. Equipment financing, for example, can only be used to purchase equipment approved by the lender.

When you use an online marketplace like Lendio, you can apply in just 15 minutes and get funded in as little as 24 hours. You’ll be able to compare loan offers from multiple lenders and work with a funding manager to lock in the best rates and terms for your laundromat business. Plus, you’ll receive personalized support throughout the entire funding process.

Partially guaranteed by the U.S. Small Business Administration (SBA), SBA loans offer low interest rates and lengthy repayment terms that you may not be able to find elsewhere. Depending on your situation, you might be able to secure up to $5 million in funding with repayment terms of up to 25 years.

There are a number of SBA loans designed to meet the needs of various business owners. The SBA 7(a) loan is the most popular program and designed to cover working capital, debt financing, and the purchase of business assets. Other loans include the SBA 504 for fixed assets like a building, land, and machinery, as well as SBA microloans, which cap out at $50,000 and can be used for working capital, inventory, or equipment.

8 out of 10 Lendio employees* or their families own a small business.

*based on 136 Lendio employees who responded to an internal poll

Quickly compare financing options from multiple funders.

Applying is free and won’t impact your credit

Talk to a rep at (855) 853-6346
Mon-Fri 7:30am-5pm MST