Financing and Leasing Options

Many competitive solutions are available for financing your purchase. Whether you’re buying a single piece of replacement equipment, expanding your operation, or building a complete new laundry facility, Loomis Bros. Equipment Company has the right solutions to meet your individual requirements. Financing is available for clients new to the industry as well as experienced laundry owners.

Full-Service Lease-Maintenance Rental Program

Some customers want to make one monthly payment that covers the equipment lease and all maintenance expenses. Our ‘WashCycle’ Full-Service Lease-Maintenance Program lets you budget one, low monthly payment to cover the equipment and all service. The lease term is typically set up for an initial three-year term. You always have the option, at any time, to purchase the equipment for Fair Market Value. Our ‘WashCycle’ program is simple, and your SATISFACTION IS GUARANTEED. If at any time you are not satisfied with our service, you can terminate the ‘WashCycle’ lease with thirty days notice.

Lease/Purchase Programs

Equipment leasing has become the preferred method of financing for many of our customers. In today’s economy, most businesses want to keep their line of credit open and bank lines untouched. When you lease your equipment, that’s exactly what you do. There is very little cash outlay upfront, and you can include all soft cost in the lease such as installation, freight, taxes, and training. Our leasing partners are capable of structuring leases for customers with unique needs. By providing a variety of creative financial solutions and flexible leasing programs, they are able to find the program that is right for you.

Lease terms can range from 12 to 72 months. Payments are fixed and at the end of the lease term, depending on the original structure of the lease, you can buyout the lease for either $1.00 or 10% of the original purchase price.

Equipment Financing

Standard bank type equipment financing is available to those who are interested in absolute ownership. In today’s competitive market, well qualified borrowers can obtain very competitive interest rates on their equipment purchases with terms up to 60 months. There is also very little cash outlay upfront, and you can include all soft cost in the Equipment Finance Agreement such as installation, freight, taxes, and training. Unlike banks, this financing also requires little or no down payment.

Small Business Administration Loan Program

We can assist in introducing you to a national SBA loan administrator who is familiar with our industry and needs. These fully amortized loans can include real estate purchase, development, construction, equipment and installation. Typical terms are competitive fixed payments up to 25 years with real estate and up to 10 years without real estate.

Click here to download a PDF format Credit Application. Simply print, complete and fax the application to initiate financing.