Webinar: Car Wash Business Financing
Eastern Funding is hosting a Car Wash Business webinar on Wednesday, April 21, 2021, at 1 pm Eastern. We will cover topics of interest to existing owners and prospective investors including: The state of the...Read More
The SBA Defers EIDL Payments until 2022
Read more at SBA.gov The United States Small Business Administration announced that it will allow deferred payments from businesses that received loans as part of the COVID-19 EIDL program. The SBA will also be increasing...Read More
An Overview of the SBA’s 504 Loan Program
This article by Jennifer Whitney, National Business Manager, originally appeared in the February 2021 issue of Planet Laundry magazine. To view the original article, click here. The Small Business Administration’s 504 Loan program is a...Read More
Now may be the Perfect Time to Acquire and Renovate a Zombiemat
The saying goes that the cream rises to the top. This is evident in the laundromat business during the pandemic. The laundromats that put best practices of operations, customer service and marketing to work are...Read More
The SBA’s Paycheck Protection Program
The SBA’s Paycheck Protection Program (PPP) is aimed at providing loans to businesses to help them keep their employees during the coronavirus (COVID-19) outbreak. Businesses are encouraged to apply for PPP loans through their local...Read More
The CARES Act – What’s in it for Small Businesses?
Senate Committee Releases Guide for Small Business Owners The Coronavirus Aid, Relief, and Economic Security (CARES) Act was recently signed into law. The package of economic relief contains measures to support households as well as...Read More
Laundromats are now Officially Essential Services
CISA adds workers in laundry services, laundromats and dry cleaners to the Essential Infrastructure Workforce List The federal government has listed laundromat workers as part of the critical infrastructure workforce during the coronavirus (COVID-19) response....Read More
Are Laundromats Essential Services? We think so.
As stay-at-home orders and restrictions on the types of business that may operate increase, some states are designating laundromats as essential services. The Coin Laundry Association in this article states its position that laundromats should...Read More
COVID-19 Update
The COVID-19 (coronavirus) pandemic will likely affect businesses and the lives of everyone in the short term or longer. At Eastern Funding, we share the public concern about its ongoing and potential impacts. We believe...Read More
How to Create a Successful Succession Plan for Your Business
By Marc Stern | Executive VP Succession planning is a key part of ensuring a business continues operating when there are significant changes in ownership or management. The information below will help guide you on how...Read More