How We Secured Over $1 Million Financing for a New Laundromat Startup!

How We Secured Over $1 Million Financing for a New Laundromat Startup!

In this video, dive into the exciting journey of a laundromat startup that successfully secured a substantial loan of $1,022,000, which covered 85% of their total project costs. This wasn't just any financing success story; it was a standalone business without any real estate to back the loan, making the process particularly challenging.

Navigating through the complexities of SBA programs and cautious banking policies towards startups lacking collateral, we managed to break through the barriers. Discover how, despite the odds, our persistent efforts and a strong network of banking connections helped us secure the necessary funding for the project.

If you're an entrepreneur thinking about starting your own business, expanding, or even considering funding for a franchise, this video will provide you valuable insights into overcoming financing hurdles. Learn about the critical role of having tangible collateral and how to maneuver if you don’t have any.

For more tips and to book a consultation to jumpstart your project, visit us at Book with Beau.

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Timestamps:
00:00 Challenges of Financing a Laundromat Startup
00:45 Strategies for Securing Funding
01:54 Negotiating with Banks
02:25 Overcoming Challenges and Compensating Factors
03:14 Tips for Starting a Successful Laundromat
03:36 Exploring Franchise Opportunities

💥 Thanks for watching 💥
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About Beau: Beau Eckstein is a franchise consultant, commercial mortgage advisor, and business ownership coach who helps entrepreneurs buy, build, and expand their businesses. He assists aspiring entrepreneurs in finding their ideal franchise or business opportunity. Beau's expertise as an investor and business owner allows him to guide clients through the entire process of acquiring, funding, and growing their ventures.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.

About the Channel: Want to structure your investments in the right and secure way?

Learn great insights and make the right decisions through the Investor Financing Podcast hosted by Beau Eckstein.