128. The Ins and Outs of SBA Financing with Beau Eckstein

The Laundromat Resource Podcast

Welcome to another episode of the Laundromat Resource podcast, where we provide valuable insights and resources for entrepreneurs in the laundromat industry. In today's episode, we have a special guest, Beau Eckstein, who will be sharing his expertise on the ins and outs of SBA financing. If you're looking to start or grow your own business and need financial assistance, this is an episode you won't want to miss. Beau touches on various topics, including the importance of checking our website and attending live Q&A sessions for updates and events in the industry. He also dives into the benefits of SBA financing for laundromats, the role of a loan broker, and the key components of a business plan. Additionally, Beau shares his insights on utilizing the tax code, finding off-market deals, and the power of strategic investments. So, get ready to take notes and gain valuable knowledge on financing your laundromat business. Let's dive in!
In this episode, Jordan and Beau discuss:
00:06:40 Consider business type, real estate, and credit strength.
00:15:19 Qualifying for loans can be tricky due to messy bookkeeping.
00:18:20 I quarterback deals and refer to banks for free.
00:21:43 Advocate for loan brokers, teamwork, painful process, DSCR defined.
00:29:55 Express loans are available from nonbank SBA lenders. Closing time varies, and communication is critical.
00:37:38 Tax returns are important for accurate financial assessment. Startup financing available, up to 90%.
00:38:41 Simplified business plan for laundry mat investment.
00:44:07 Refinancing debt with SBA guidelines explained briefly.
00:51:53 Tax code benefits entrepreneurs save money.
00:57:46 Learn the tax code to save money. Hire experts for greater benefits.
00:59:49 Regret selling property, the importance of mindset. Action necessary for success.
01:09:48 Real estate or laundromat? Choose wisely.
01:11:07 High utility costs; SBA helps with business.
Show Notes-
https://laundromatresource.com/show128

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