Is SBA Financing the Best Option for Financing Equipment for My Car Wash Business?

Is SBA Financing the Best Option for Financing Equipment for My Car Wash Business?

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Hi Beau,

I currently own a car wash business. I have a quick question for you: Is SBA financing the best option for financing equipment for my car wash business?

Thank you.
Shawn

In this episode, Beau addresses Shawn's question about whether SBA financing is the best option for financing equipment for his car wash business. He explains that equipment financing is quick, providing funding within a few days. However, the shorter terms result in higher monthly payments that can affect cash flow.

On the other hand, SBA 7A financing offers a 10-year amortization period, allowing for stretched-out payments and higher cash flow for the car wash business. Depending on the cost of the equipment, it may even be possible to extend the amortization to 25 years, primarily if the car wash is already owned.

Beau emphasizes that the decision should not solely be based on interest rates or factors but rather on the payment structure and the ability to maintain high cash flow. He offers to explore all options, including equipment finance and different types of SBA financing, such as SBA Express or standard SBA 7A.

(00:02) Question about SBA financing options for equipment in a car wash business
(00:19) Considerations between equipment financing and SBA 7A loan
(00:39) Stretching payments and evaluating cash flow for car wash business financing
(01:20) Book a call at https://investorfinancingpodcast.com/rumble

💥 Thanks for watching 💥
#SBAfinancing #carwashbusiness #SBA #equipmentfinancing

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About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance all your projects.

About the Channel: Want to structure your investments in the right and secure way?

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