The Ins and Outs of Laundry Equipment Financing with Martin-Ray
When opening a new laundromat or purchasing new commercial laundry equipment for their business, one of the first things customers ask us about are financing options. Of course, laundry equipment is an investment and money is always an important factor, especially in uncertain times like these. With that in mind, we thought we’d break down a little bit about financing your laundry equipment and share some of the benefits of financing through Martin-Ray Laundry Systems.
What are your options when financing laundry equipment?
As a laundry business owner, there are a few options to help you pay for and fund your new laundry equipment.
- Apply for laundry equipment financing through your commercial laundry equipment distributor or manufacturer.
- Apply for a loan through your bank or the Small Business Association.
- Save up and pay in cash.
- Borrow funding from your friends, family, or a business partner/investor.
Benefits of financing through a distributor like Martin-Ray
As a trusted laundry distributor throughout Colorado, New Mexico, Wyoming, west Texas, and western Nebraska, it probably goes without saying that we think financing through a distributor is your best route. Most people in the laundry industry agree. Here’s why…
- You’re working with people who are knowledgeable about the laundry industry specifically, so you’re getting additional insights, expertise, and experience in addition to industry-leading rates. .When you purchase Speed Queen washers and dryers from Martin-Ray, you’re able to partner with Speed Queen’s financial services team to find the financing solution to meet your needs. Speed Queen has financed more than 18,000 loans and $1.7 billion in laundry assets, so you know you’re in good hands when it comes to financing your laundry venture.
- Almost any piece of laundry equipment you need can be financed, so you don’t have to wait to make your business successful now or in the long-term. Many times laundry distributors and manufacturers offer more customized financing options as well, assuring you get the best fit for you and your business. Especially during tough times or competitive markets, getting equipment quickly, at an affordable rate, can be make-it-or-break-it for your business.
- Unlike many banks and lenders who don’t understand the laundry industry or take a long time to approve your loan and work through the process, Martin-Ray offers a quick turnaround time and decision-making process, as well as dedicated account management to help assure smooth sailing throughout the life of your loan.
Learn more about financing your commercial laundry equipment
If you have more questions about financing options, whether you qualify, or how we can help you during this time, don’t hesitate to reach out. Our team of experienced laundry equipment experts is always here to help!