Laundry Equipment Financing
Commercial washers, dryers and the water heating behind them represent a significant investment. Whether you operate a laundromat, a hotel laundry or an industrial plant, that equipment ties up capital you need for rent, utilities and staff.
Laundry equipment financing spreads the cost over fixed monthly payments instead of a single outlay.
Fincap acts as a broker, not as the lender. More than 30 Canadian lenders review your file, on new and used machines from any manufacturer, and most applications come back within 24 to 48 hours.
Financing Solutions for Laundry Businesses
A laundry project rarely needs one type of funding. We build the structure around the machines you are installing and the revenue they will produce.
- Equipment leasing to acquire commercial washers, dryers and finishing equipment without a large outlay upfront.
- Refinancing to turn machines you already own into working capital.
- Working capital loans to cover utilities, chemicals and payroll through the first months of operation.
- Factoring for commercial laundries that invoice hotels or healthcare clients on net 60 terms.
Our comparison of leasing and financing sets out how each one works.
What Laundry Equipment Can You Finance?
Complete installations and single machines both qualify, new or used:
- Commercial washer extractors and soft mount washers
- Stack dryers, single pocket dryers and tumble dryers
- Coin, card and mobile payment systems
- Water heaters, boilers and steam equipment
- Ironers, flatwork finishers and folding equipment
- Dry cleaning machines and garment care equipment
- Conveyors, carts and sorting systems
- Water recovery and filtration systems
- Ventilation, lighting and store fixtures
Other equipment may qualify as well. Every sector we cover appears on our eligible equipment page.
Financing by Type of Laundry Operation
Cash flow drives the structure, and it looks different in a self serve store than in a hospital laundry.
1. Coin and Card Operated Laundromats
A laundromat earns daily, in small amounts, which supports steady monthly payments. Machines can be financed a few at a time as you replace an aging floor, or as a full package when you build out a new store.
2. On Premises Laundry for Hotels and Care Facilities
Hotels, retirement residences and healthcare facilities run laundry as a cost centre rather than a revenue line. Financing keeps the capital budget intact, while outsourcing savings cover part of the payments.
3. Commercial and Industrial Laundries
High volume plants carry the heaviest packages: tunnel washers, large capacity dryers and flatwork finishing. Longer terms suit this equipment, which is designed for heavy, continuous use.
4. Dry Cleaners and Garment Care
Dry cleaning machines, pressing stations and conveyors are financed the same way. Equipment that is easy to identify and value moves through underwriting faster.
New vs Used Laundry Equipment
Used machines qualify on the same basis as new ones.
1. Financing Used Washers and Dryers
A used washer extractor secures the loan just as a new one does. Lenders look at age, cycle count, condition and resale value. Service records and a recent inspection speed up the decision.
2. Buying at Auction or from a Private Seller
You are not limited to a distributor. Our lending partners fund machines bought at auction, at a store liquidation or from a private seller. Manufacturer financing covers only its own inventory.
Why Choose Fincap for Laundry Equipment Financing?
Working through a broker rather than a single lender changes how the file is built.
- Your request goes out to more than 30 Canadian lenders, which multiplies the structures on the table.
- Any brand qualifies, new or used, from a distributor, a private seller or an auction.
- Sales tax is spread over the lease rather than settled in full at purchase.
- Unlike a term loan, a lease stays off your balance sheet and leaves your bank capacity intact.
- New businesses and imperfect credit files are considered. The service holds a 4.9 out of 5 rating over 122 Google reviews.
Who Qualifies for Laundry Equipment Financing?
No single threshold decides the outcome. Lenders look at the business, the equipment and the cash flow behind the file. Each criterion is detailed in our guide to getting an application approved.
Documents Needed for Your Application
The equipment quote matters most, since it defines exactly what is funded. The rest of the file simply confirms who you are.
- Our credit application form
- Business registration or incorporation documents
- A quote or specification sheet for the machines
- Bank statements for the last three months
- Financial statements for requests above $150,000
How Laundry Equipment Financing Works
The process is the same whether you are replacing two dryers or equipping a full store. Count on 48 hours from application to the structures you can compare.
Typical Laundry Equipment Financing Terms
Rather than a fixed calendar, terms follow your revenue cycle.
Opening a New Laundromat or Upgrading an Existing Store
The question is different depending on whether you are building a first store or replacing machines in one that already runs.
1. Financing a First Location
A first store has no operating history to present. Several lenders in our network fund new businesses, so we build the file around the equipment, the location and your own background. Our guide to leasing as a startup covers what those lenders look for.
2. Buying an Existing Laundromat
When you take over a store that already operates, the installed machines carry a measurable resale value that supports the file. Refinancing that value releases cash for the first round of upgrades.
Laundry Equipment Financing Across Canada
Fincap serves laundry operators in every province and territory, entirely remotely. Dedicated pages cover our busiest markets:
- Equipment Financing Ontario
- Equipment Financing Calgary
- Equipment Financing Edmonton
- Equipment Financing Vancouver
- Equipment Financing Winnipeg
- Equipment Financing Saskatchewan
For Laundry Equipment Dealers and Distributors
If you sell commercial washers, dryers or payment systems, a financing option presented at the point of sale shortens your sales cycle.
Our vendor program adds a payment offer to your commercial proposal.
Suppliers who prefer to extend terms themselves use merchant solutions instead.
FAQ About Laundry Equipment Financing
Here is what operators usually want cleared up before sending a file. Anything else, our brokers take calls at 819-643-9997.
1. What credit score do I need to finance laundry equipment?
There is no fixed minimum. Our network includes lenders comfortable with profiles a bank would turn down. Equipment, operating history and cash flow carry as much weight as the score itself.
2. Can I finance used commercial washers and dryers?
Yes. Used machines qualify as long as they meet basic condition requirements, including equipment bought at auction, at a liquidation or from a private seller.
3. How much does it cost to equip a laundromat?
The amount depends on the number of machines, their capacity and whether they are new or used. Our laundry files range from $10,000 for a partial replacement to more than $5,000,000 for a full build out. Our article on how a lease is calculated shows how an amount becomes a monthly payment.
4. Can I finance equipment for a laundromat I am buying?
Yes. The machines already installed carry a value that supports the file, and refinancing that value releases cash for the upgrades the store needs.
5. Are laundry equipment lease payments tax deductible?
In Canada, these payments are frequently treated as an operating expense. Your accountant will confirm the treatment, and our article on lease payments at tax time sets out the principle.
6. What terms are available on commercial laundry equipment?
Most terms sit between 24 and 84 months. Fixed, seasonal and deferred structures are available depending on the lender and your profile.
7. Do you finance on premises laundry for hotels and care homes?
Yes. On premises laundry equipment is financed like any other commercial asset, and the file is built around the facility rather than around laundry revenue.
Calculate Your Monthly Payment
Estimate your payment before you commit. Enter an amount and a term in our equipment lease calculator and it returns an estimated monthly payment.
Ready to Finance Your Laundry Equipment?
Send us the equipment quote and a few details about your business. Most laundry equipment financing requests come back with options to compare in under two business days. Submit your application or call 819-643-9997 to speak with one of our brokers.