National Q3 Replacement Program – 12 months interest only
- Replacement equipment purchases only for laundromat segment
- 7.75% fixed for 12 months, WSJ Prime + 2.00% thereafter (rates subject to satisfactory credit score)
- .50% higher for 9 years
- .75% higher for 10 years
- First payment due on day 30 after funding
- First 12 months interest only payments
- Maximum Term
- 60 months for loans less than $50,000
- 84 months for loans over $50,000
- 96 months for loans over $100,000
- 108 months for loans over $400,000
- 120 months for loans over $500,000
- Minimum Term – 12 months
- Applications received starting July 15
- Approval deadline of 9/30/2022
- Funding Deadline of 12/28/2022
- Maximum finance amount of $2,000,000
- Admin fee – .50% ($500 minimum) capitalized into finance amount
- No prepayment penalty
- No Security Deposits
- Optional ACH Automatic Debit
National Q3 New Store Finance Program – 90 days deferred, 10 months interest only
- New equipment purchases only for new laundromats in the laundromat segment
- WSJ Prime + 2.50% variable (Prime Rate Floor of 3.75%) (Current rate is 7.25%) (rates subject to satisfactory credit score)
- .50% higher for 9 years
- .75% higher for 10 years
- No payment for 90 days
- First 10 months interest only payments
- Maximum Term
- 60 months for loans less than $50,000
- 84 months for loans over $50,000
- 96 months for loans over $100,000
- 108 months for loans over $400,000
- 120 months for loans over $500,000
- Minimum Term – 12 months
- Applications received starting July 15
- Approval deadline of 9/30/2022
- Funding Deadline of 03/30/2023
- Maximum finance amount of $2,000,000
- Admin fee – .50% ($500 minimum) (capitalized into finance amount)
- No prepayment penalty
- No Security Deposits
- Optional ACH Automatic Debit