How to Finance Commercial Washing Machines

If you desire to open up your own laundromat, you will need commercial-grade machines to handle the amount of laundry they will handle. Commercial machines also are able to collect change or tokens, where normal machines cannot do so.

If you need to buy machines for your laundromat, more than likely you will need to purchase them through financing. You have three main options to do so:

• Obtain financing through your bank. This may be the best option if you already have a business relationship with the bank. You will need to show them your business model and plan before you are approved. Once approved, you can use the loan to buy your machines. This option also allows you to get extra financing so that you can buy other equipment, if necessary.


• Obtain financing though the machine's manufacturer. Wascomat, Huesbch and Maytag all offer financing options on their commercial laundry machines. Your interest rate will depend on the credit worthiness of your business. Generally speaking, you will find that their rates will not be as good as those that you will find at the bank. However, they may be more willing to accept your application for financing than a bank.


• Obtain financing through a third-party seller. There are several companies, such as American Laundry and Appliances Connection, who sell laundry machines from several different manufacturers. These companies also offer their own financing plans, and they will be similar to those your would find from the manufacturer.