Financial Services

We are proud to serve the states of Florida, Georgia, North Carolina, South Carolina, and Virginia for all your commercial laundry equipment needs.


Our strategic partner, Alliance Laundry Systems, is the industry leader in financial services provided to laundromat customers; Alliance has invested over $1 billion dollars into the commercial laundry across North America. Their professionals with over 100 years of commercial credit experience focus on assisting you in achieving your financial goals.

We will provide you with industry-leading programs, resources, and services such as:


  • Creative & flexible programs

Flexible financing to meet your investment needs. We encourage you to contact us to assist you.


  • Fast decisions

In many cases finance approvals are made with in twenty-four hours or less!


  • Competitive rates

We consistently offer some of the lowest rates in the industry.


  • No hidden costs

No full or partial prepayment penalties on your loans and in most instances no security deposits.


  • Personalized Services

We now offer more personalized attention in handling inquiries in the areas of refinancing and acquisition financing.


  • Security and Confidentiality

You will have the assurance and security of knowing that your confidential credit and financial information comes here and stays here. In today's marketplace, we recognize this is a priority of our customers and have invested in appropriate resources to protect you.

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Refinancing Options

For our existing laundromat owners we have two types of financing options:

Acquisitions

Available to support all your acquisition-related financing needs, our local Speed Queen distributors can help you find laundromats for sale in your market. If you're selling a laundromat, our finance team can also help identify and finance a buyer, so you can avoid the need to finance the sale yourself.

  • Finance up to 65-80% of the purchase price.
  • Finance amount to be determined on a case-by-case basis for qualified customers.

Refinancing

Speed Queen Financial Services provides financing options for replacement equipment purchases, capital needs that facilitate multi-store ownership and creative restructure of your existing account(s).

  • Combine the remaining balance on your existing loan with new equipment purchases to improve efficiency and revenue.
  • Utilize the equity in an existing laundromat to facilitate a new store development or existing store acquisition.

Frequently Asked Questions

Do you offer pre-approvals?
Yes, our preapproval process allows customers to receive immediate feedback based on an estimated financed amount by submitting only a completed credit application and personal financial statement.
How fast can I expect an answer on my credit application?
Typically credit decisions are made within 24 hours of receiving a complete application package.
How do I get started?
Statewide will assist you in preparing a complete finance package based on the amount of your loan request.
What are my cash investment requirements on a new store purchase?
Alliance will look to finance up to 70% of the total project cost leaving the customer with a 30% cash investment. The total project cost consists of all costs associated with building the Laundromat including equipment, leasehold improvements, construction, impact fees and all other relevant costs.
Are there any prepayment penalties?
No, our loans can be prepaid in full or part at anytime without penalties.
Are there any prepayment penalties?
No, our loans can be prepaid in full or part at anytime without penalties.
Is there an application fee?
While we do not charge an application fee, there is a one-time administration fee due after loan closing. The fee is $300.00 and is capitalized into the loan balance at the time of funding. Seasonal promotions, refinancing and acquisitions may deviate from the standard.
Can I submit a credit application through fax or mail?
Yes, please download the PDFs below and mail to Financial Services Department, P.O. Box 990, Ripon, WI 54971 or fax to 1-920-748-4477

Speed Queen Financing 

Speed Queen Knows Laundry Better


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Over $2 billion in laundry financed

Speed Queen Financial 
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More than 20,000 loans

Speed Queen Financial 
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Combined lending experience of more than 100 years

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100% commitment to your success

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