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September 2018

Securing laundry equipment financing

Securing laundry equipment financing 1024 683 Summit Funding Group

Securing laundry equipment financing

Currently, banking regulations and rising interest rates are two key factors influencing the ability of laundry operators to secure equipment financing and competitive terms, says Chris Lewis, a senior regional manager at Summit Funding Group, an Ohio-based company that provides equipment lease and finance solutions to businesses across the United States and Canada.

“Over the last number of years, banks and other depositary institutions have tightened restrictions and become increasingly stringent when evaluating corporate credit profiles with heightened criteria that businesses must meet in order to qualify for loans and leases,” he says.