Eastern Funding
Lenders & Financing · New York, NY
Specialty lender that finances laundromat acquisitions and new equipment, including SBA 504 real estate loans.
About Eastern Funding
Eastern Funding is a specialty lender that finances the laundry business specifically, and it is one of the few lenders in the country that treats coin laundry as a core vertical rather than an exception to underwrite around. Its own description covers financing across all phases of a laundry business: acquisitions, equipment, new store construction and commercial real estate, plus refinancing. It also lends to car wash operators.
The reason laundromat buyers end up here is underwriting comfort. A generalist bank looks at a coin laundry and sees an unstaffed cash business with a short lease and hard-to-value used equipment. A lender that finances hundreds of them knows what a Dexter fleet is worth at eight years, what a reasonable rent-to-revenue ratio looks like, and how to structure around a lease with option years. The firm points to a team drawn from former business owners, equipment distributors and store builders.
They offer SBA 504 alongside conventional acquisition and equipment paper, and quote nationwide. Loan sizes and rates are not published; you get terms by applying or calling.
What they offer
- Laundromat acquisition financing
- New store and build-out financing
- Equipment financing
- SBA 504 loans
- Refinancing
Best for
Buyers whose bank has never financed a coin laundry and does not want to learn.
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