Is it hard to get a loan for a laundromat?

Not unusually. Laundromats have equipment as collateral and steady cash flow. The main hurdles are proving the store's income and showing a long enough lease.

How much does laundromat equipment financing cost?

At a representative 8%–30% APR, $150,000 of equipment costs about $3,041–$4,853 a month over 60 months.

Should I buy an existing laundromat or build new?

Buying gives you revenue from the first day and a history lenders can underwrite. Building costs more and takes time to fill, but lets you choose the site and equipment.

WithFunded › Best-of guides › By industry

Best business loans for laundromats in 2026

The best financing for most laundromats is equipment financing for washers and dryers, and an SBA 7(a) loan for buying an existing store, which is how most owners enter the business. Because laundromats collect payment up front, they rarely need working capital financing. The lease matters as much as the loan.

By the WithFunded team · Published November 11, 2026 · Rates as of November 2026

The short list

Best for new washers and dryers: Equipment loan
Best for buying a laundromat: SBA 7(a) loan
Best for buying the building: SBA 504 loan
Best for adding card readers or wash-and-fold: Online term loan

The 4 best options, ranked

1. Equipment loan Best for new washers and dryers

Commercial machines last many years, and new ones cut utility costs. Manufacturers and lenders both finance them on the equipment.

Watch for: Older or highly specialized equipment gets shorter terms and higher rates. Equipment financing guide →
2. SBA 7(a) loan Best for buying a laundromat

Buying an operating store with customers beats building one. A 7(a) loan finances the equipment and goodwill together on a long term.

Watch for: Heavy documentation, and the timeline rules it out for anything urgent. SBA loan guide →
3. SBA 504 loan Best for buying the building

A laundromat's plumbing and utility hookups make it costly to move, so owning the property protects the investment.

Watch for: Only for fixed assets. It cannot fund payroll, inventory, or other working capital. SBA loan guide →
4. Online term loan Best for adding card readers or wash-and-fold

A payment system upgrade or a drop-off service counter is a defined project that a fixed loan repays quickly.

Watch for: A longer term lowers the payment but raises the total interest you pay. Term loan guide →

Side-by-side comparison

Option	Verdict	Cost basis	Funding speed	Qualifies on
Equipment loan	Best for new washers and dryers	Representative 8%–30% APR, with the term matched to the equipment's useful life	Days to weeks	The equipment is the collateral, which can offset a thinner credit profile
SBA 7(a) loan	Best for buying a laundromat	Capped at 10.00%–13.50% by loan size (prime plus the SBA maximum spread)	Weeks to months	Generally stronger credit and two or more years in business
SBA 504 loan	Best for buying the building	CDC portion roughly 6.6% on 10 to 25 year terms	Weeks to months	Owner-occupied real estate or major equipment, plus a down payment
Online term loan	Best for adding card readers or wash-and-fold	Representative 8%–30% APR, fixed payments over 6 to 60 months	Days	Revenue, time in business, and credit

What it costs

Monthly payments on a standard fixed-payment loan at the representative 8%–30% APR band. The low end of each range is 8% APR and the high end is 30% APR.

Amount	48 mo	60 mo	84 mo
$50,000	$1,221–$1,800	$1,014–$1,618	$779–$1,430
$150,000	$3,662–$5,401	$3,041–$4,853	$2,338–$4,289
$350,000	$8,545–$12,602	$7,097–$11,324	$5,455–$10,008

Financing $150,000 over 60 months costs about $3,041–$4,853 a month, or $32,488 to $141,181 in total interest, depending on the rate you qualify for. WithFunded calculation, representative 8%–30% APR band. Not a quote.

What lenders look at

Verified revenue. Lenders rely on utility bills and card-system reports to confirm sales in a cash business.
The lease term, which should run at least as long as the loan.
Equipment age, since old machines mean a retool is coming.

Mistakes to avoid

Buying a store on the seller's stated income without checking it against water usage.
Financing equipment over a term that runs past the end of the lease.

Frequently asked questions

Is it hard to get a loan for a laundromat?: Not unusually. Laundromats have equipment as collateral and steady cash flow. The main hurdles are proving the store's income and showing a long enough lease.
How much does laundromat equipment financing cost?: At a representative 8%–30% APR, $150,000 of equipment costs about $3,041–$4,853 a month over 60 months.
Should I buy an existing laundromat or build new?: Buying gives you revenue from the first day and a history lenders can underwrite. Building costs more and takes time to fill, but lets you choose the site and equipment.

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How we ranked these options

This guide ranks types of financing, not individual lenders. Each option is ordered by how well it fits the need described on this page, judged on four things in this order: whether the structure matches how the money will be used and repaid, total cost, funding speed, and how hard it is to qualify. Cost figures are WithFunded calculations from published rate inputs as of November 2026: the bank prime loan rate from the Federal Reserve, the SBA maximum-rate schedule, and Federal Reserve survey data. The method follows our 2026 SMB Financing Cost Report, whose own figures use June 2026 rates.

WithFunded is a financing marketplace, not a lender. Our 2-minute form suggests a product type from the families we cover, and a funding partner reviews the request. Not every structure named in this guide is available through WithFunded: options such as SBA microloans, USDA farm loans, bank loans, and seller financing are ones you would pursue directly with the provider. They are listed because leaving out a good fit would make the ranking less useful.

Related guides

The top-ranked option on this page is equipment loan because it fits the most common version of this need. Your own best fit depends on your revenue, time in business, credit, and how fast you need the money.

Disclaimer. WithFunded and Big Think Capital are a financing marketplace; we are not the direct lender and do not guarantee funding, approval, rates, or terms. Everything on this page is a representative example only — not an offer or a commitment to lend, and not financial advice. Actual rates, fees, payments, and terms are set by the funding lender and depend on your business, credit, and the product. Where required by state law, the lender provides cost-of-financing disclosures before any agreement is signed.