LOAN FOR LAUNDROMAT

[DADEAU]

I am currently trying purchase a laundromat and I am having trouble getting financing. I have been working with a lender, but have been turned down twice for a small business loan, for two different reasons. One was because it has no Real Estate with it and the other was because the loan amount was too small. We are looking at needing $110,000 and are putting a down payment of $30,000. It seems to be in the area of too small for lenders interest and too big for us to finance ourselves.

Does anyone have any ideas or know of any possible private investors that might work?

I really want this laundromat!!!

Thanks

[taters]

I understand your frustration I was there 7 months ago. The big banks don't want to loan out a small amount of money and the small banks need to much collateral. I know a bank in Los angeles that mostly serves mom and pop business's.
They require a 50% of the purchase price to be able to execute the loan. Call Mr. John Kim at Interbusiness bank at
(213) 542-8858