Creative Laundromat Financing

[Ryan T.]

Hello- I was looking on some advice for creative laundromat financing. I know the go-to is always seller financing, but if I took a different route what are the best available options right now? The current laundromat has a very good cash flow as is. 

- Rented location / No RE (so that probably knocks out SBA loans)

- All books and taxes are well maintained (Maybe bank conventional)

- Needs retooling in addition to the acquisition price

I would probably be looking at an all-in total of around $600k (Acquisition plus retooling). I have capital to put down whatever percentage is needed, but I am looking to maximize the loan term years with obviously the lowest rates. I see a lot of the big names are only ten year loans which would eat all of the cash flow. 

Does anyone have any experience on how to get the most creative with these types of aquistions plus retooling on rented space?

Thanks!