Dry Cleaner Loan

A different kind of money laundering – dry cleaner loans!

Running a dry cleaner’s is about washing away dirt, and that too is what you do when finding the best loan for your business. From purchasing specialized washing equipment to furnishing the premises, securing the right funding is essential.

With our brokerage tool, you have access to the wider market to find the most competitive rates on your loan, so your finances can remain as pristine as the clothes you clean.

Key Financial Considerations for Dry Cleaners

Startup Costs

Equipment: Purchasing dry cleaning machines, presses, and conveyors.

Store Setup: Purchasing the premises, investing in counters, computer systems, and customer waiting areas.

Marketing: Building a brand presence through advertising, a website, social media and promotions

Running Costs

Staff Salaries: Wages for attendants, pressers, and customer service staff.

Utilities: Monthly expenses for electricity, water, and detergents.

Maintenance: Regular servicing and repair of dry cleaning equipment.

Revenue Streams

Dry Cleaning Services: Cleaning garments, household items, and specialty fabrics.

Alterations and Repairs: Providing tailoring and mending services.

Laundry Services: Offering washing, drying, and folding services.

Loan Repayment

Effectively managing loan repayments is crucial for financial stability, and you may be charged with late fees if you cannot repay your debt in time. Budgeting for repayments is extremely important, as well as fully understanding the interest rate.

Record Keeping

Detailed Records: Track all sales, expenses, and financial transactions.

Regular Audits: Conduct frequent reviews to ensure accuracy and compliance.

Types of Loans Available

Working Capital Loans

Example: Use to manage payroll and utility bills during slow business periods.

Equipment Financing

Example: Finance new dry cleaning machines, presses, or computer systems.

Inventory Financing

Example: Stock up on detergents, solvents, and other cleaning supplies.

Merchant Cash Advances

Example: Fund a marketing campaign or expand your customer waiting area.

Invoice and Payroll Loans

Example: Manage cash flow and cover employee wages with pending customer payments.

Asset Finance

Example: Acquire new delivery vans, customer counters, or large equipment.

Leading Lenders for Dry Cleaner Loans

High-Street Banks

Private Lenders

Can I apply for a dry cleaner loan?

Any business can apply for a dry cleaner loan, regardless of how big or small it might be, provided you are VAT registered and you meet the minimum monthly turnover.

As a range of business funding options are available, it can often be challenging to find the perfect deal to acquire your dry cleaner’s. Our specialist business loan advisory team helps take the strain in finding the right finance solution for your expansion into dry cleaning.

Call us today on 0117 313 8872, for a free initial consultation or use our business loan quote service.