Whether you’re just getting started with a new laundromat investment or an experienced laundromat owner, nothing prepares you for success like teaming up with Speed Queen® Financial Services.
Whether you’re upgrading your equipment, refinancing or thinking about acquiring another store, Speed Queen Financial Services has the people and programs to guide you through the process. Our knowledgeable finance professionals are dedicated to providing high-quality, laundry-focused financial solutions designed to suit your unique needs – and your budget.
Whether you’re replacing your entire equipment lineup at once or over time, our dedicated commercial laundry finance team of experts will create a customized, flexible program to best suit your cash flow, your payment goals and the needs of your laundromat.
Best-in-class equipment helps create a loyal customer base. We frequently offer special terms and rates to help you stay up to date with your equipment and competitive within your market.
Quick Response Times
The sooner you get your new equipment, the sooner you can make more money. That’s why we’re dedicated to delivering fast credit decisions and can often respond within 24 hours.
No Hidden Fees
Unlike our competitors, Speed Queen requires no down payments or deposits, and you’ll never be charged full or partial prepayment penalties or other hidden fees. There’s a one-time low fee at loan funding, and that’s it.
Your relationship manager will work with you to create convenient commercial laundromat finance solutions that suit your business and lifestyle, and they’ll stick with you to provide continuing programs as long as you are in the industry. Plus, offerings like automatic debit for monthly payments and online account access provide added flexibility.
Wouldn’t it be easier to shop for equipment when you know what financing support you have and what your estimated monthly payments will be? In an effort to provide customers with immediate feedback, Speed Queen has developed our PRE-APPROVAL program to preapprove customers prior to finalizing their equipment selection with their local Speed Queen equipment distributor.
Speed Queen Financial Services is available to assist its valued customers with financing options for replacement equipment purchases, capital needs that facilitate multi-store ownership and creative restructure of your existing account(s).
Replacement Equipment Purchases
Combine the remaining balance on your existing loan with new equipment purchases in order to improve cash flow and the efficiency of your laundromat operations.
Utilize the equity in an existing laundromat to facilitate a new store development or existing store acquisition.
Speed Queen recommends that each customer consult their distributor for further discussion on replacement equipment purchases, new store development and acquisition. Local Speed Queen distributors will be your resource for listings on existing laundromats for sale in your market. We will work in conjunction with you and your distributor to support your laundry business financing needs.
Speed Queen Financial Services is available to support your acquisition-related financing needs. Local Speed Queen distributors will be your resource for listings on existing laundromats for sale in your market.
Finance up to 65% of the valuation of your target laundromat or 65% of the selling price, whichever is less. Value of the laundromat is based on a detailed analysis of the utility bills, trailing twelve months EBITDA from Profit & Loss Statement and tax returns of the laundromat. We recommend that all buyers work with a local accounting or financial professional in making their decision to purchase.
Acquisition & Retool
Finance the purchase of an existing location with the purchase of Alliance-branded equipment. Finance amount to be determined on a case-by-case basis for qualified customers.