BACKGROUND
Eastern Funding is staffed with experienced Laundromat employees and management. They specialize in new equipment loans.  They also will new store construction loan. This a premier Laundromat lender.

FAQ

What Equipment will Eastern Funding finance?

Eastern Funding will finance washing/drying equipment, as well as all accessory store equipment from all manufacturers who serve the industry. We work closely with you and your distributor to ensure that your business has everything that it needs to be successful.

Can I obtain a “Pre-Approval,” for a loan?

Eastern Funding generally does not give “pre-approvals,” as we evaluate more than a potential borrower’s credit history. We are equally interested in the location of the business, its current or projected financial performance, the size of the project, and the equipment to be financed. Because of those requirements, we recommend determining the needs of your business prior to submitting a request for commercial financing.

What do you finance?

Eastern finances new equipment purchases, store acquisitions and in certain cases commercial real estate.  For new equipment financing the decision on equipment is up to you.

Do you provide financing for start-ups?

Yes, we do provide commercial financing for start-up businesses. However, we do require an investor seeking start-up capital to have adequate experience running a small business, a minimum credit score of 640, and a sufficient investment in the project.

What are your rates?

While Eastern Funding does not publish rates, we do offer competitive financing options and can usually match terms for special financing promotions offered by equipment manufacturers.  

How long is the process to receive an Approval?

For smaller “Auto” transactions below $150,000 Eastern Funding will generally render a credit decision within 24 hours of receiving all required information. For larger, more complex transactions, approval depends on how long it takes to obtain all of the required information.

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Here you will find an Interactive PDF of our online credit application form.

Before you move ahead, we have a few suggestions:

1)The Credit Application requires Adobe Acrobat Reader. If you do not have this software,   click here to download now.  
2) Applying for any substantial loan requires information, because the more information we have the more informed our future conversation with you will be. We therefore suggest that you print out our form, review it, collect your information and then complete the application.  
3) It's not the promise that counts but the delivery on the promise. At Eastern, we will not quote a loan or lease package until we have reviewed your application and spoken to you. The rate we promise is the rate we deliver.

To submit your Credit Application:

STEP 1
Download a copy of our PDF based Credit Application form   here!
Once the download is complete, open within Acrobat Reader.

STEP 2
Since this is an Interactive PDF, simply type in your information to fill out our Credit Application Form.

STEP 3

Then PRINT the completed form by hitting the PRINT button on the menu bar or choose PRINT from the FILE menu.

STEP 4

Once the form is complete, FAX to: (212) 819-9764

Or

Mail to the address below and include your return address:
Eastern Funding, LLC
213 West 35th Street
New York, NY 10001

For Existing Stores:

Please use our   Cash Flow Statement   to budget your monthly revenue versus monthly expenses for reviewing your finances.

Apply for an Automatic Payment Plan:

Please download our   Automatic Loan/Lease Contract Payment Plan Authorization Form   to apply.

Information Change Request Form:

Please download our   Information Change Request Form.

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