At a glance
- Best for machines
- Equipment financing (washers, dryers, card systems)
- Best for buying a store
- SBA 7(a) loan
- Best for cash flow
- Business line of credit
- NexGen amounts
- $10,000 to $20,000,000 across programs
- Approval speed
- Typically 1 to 24 hours for many programs
- Credit
- 650+ on most programs; 500+ for revenue-based financing; 700+ for SBA loans
Laundromats are equipment businesses. Your machines are your revenue, and aging washers and dryers mean more breakdowns, higher utility bills and customers who go elsewhere. Upgrading to efficient machines, adding card or app payments, offering wash-and-fold or buying a second store all take capital. This guide covers financing for self-service laundromats, wash-and-fold services, dry cleaners and commercial laundry operations.
At NexGen Lending, we help laundry businesses nationwide compare equipment, acquisition and working capital financing with one application.
What is the best financing for a laundromat?
| Financing type | Best for |
|---|---|
| Equipment financing | Washers, dryers, water heaters, card and app payment systems |
| SBA 7(a) loan | Buying an existing laundromat, larger renovations |
| Business line of credit | Repairs, utilities, supplies, slow months |
| Term loans & unitranche debt | Remodels, adding wash-and-fold or delivery, a second store |
| Real estate funding | Tapping equity in your building or home through a HELOC or cash-out refinance |
How much can I finance for laundromat equipment?
When you replace machines, get quotes that include removal of old equipment, plumbing, venting and electrical work. Efficient machines can lower water, gas and electric costs, which helps the new payment pay for itself.
What do lenders look for in a laundromat?
- Revenue history from coin, card and app payments
- Utility costs and trends
- Age, brand and condition of machines
- Remaining lease term and renewal options
- Personal credit score
- Wash-and-fold, delivery or commercial laundry contracts
How do I qualify for a laundromat loan?
- Deposit all cash. Lenders can only count revenue they can see.
- Track machine usage. Payment systems make turns per day easy to report.
- Review your lease. Aim for a term that covers the loan.
- Get quotes. Include installation, plumbing and venting.
- Show the savings. Utility savings from efficient machines support the loan.
- Compare offers. See how we compare lender offers.
Can I get a loan to buy an existing laundromat?
Verify revenue with utility bills and bank deposits, not just the seller’s reports, since water and gas usage tracks closely with machine use. Our guide to buying an existing business walks through the full due diligence process.
How fast can a laundromat get funded?
Frequently asked questions about laundromat financing
Can I finance used washers and dryers?
Often, yes. Lenders will ask for the brand, age and condition. Newer used machines from reputable dealers are easier to finance.
Can I finance a card or app payment system?
Yes. Payment systems are commonly included in equipment financing, and they make revenue easier to document for future financing.
How long should my lease be?
Lenders generally want your lease, including renewal options, to last at least as long as the loan term.
Can I add wash-and-fold or delivery with financing?
Yes. A term loan or line of credit can cover staff, equipment and vehicles for added services.
What if my credit isn’t perfect?
With a 500 to 649 credit score, revenue-based financing is the main option, since it leans on sales more than credit. Most other NexGen programs, including equipment financing and lines of credit, require 650+, and SBA loans require 700+. Below 500, NexGen's business credit guidance can help you understand your credit profile and build toward approval.
This article is for general informational purposes only and is not financial, legal, or tax advice. SBA figures come from the U.S. Small Business Administration and NexGen figures from NexGen’s service pages, as of October 2026. Loan terms, rates, and eligibility vary by lender and program and are subject to approval. Availability varies by state.