Dry Cleaner Funding
The demand for dry cleaning services is evolving, making it essential for businesses to stay ahead of industry trends. Secure up to $500,000 in funding from NextGen Capital in as little as 24 hours to help your dry cleaning business adapt, grow, and thrive.
Fast, Easy Dry Cleaner Funding When You Need It
Securing funding for your dry cleaning business through traditional lenders can be challenging. The approval process can take months, with no guarantee of success. Many banks consider dry cleaning businesses “high risk” due to factors such as shifting market trends, economic dependence, and environmental regulations.
NextGen Capital offers a streamlined online application, quick approvals, and flexible funding options, often providing funds in just one business day. We provide a variety of alternative funding solutions ranging from $3,000 to $500,000 to help your dry cleaning business grow. Whether you specialize in garment cleaning, leather care, alterations, or repair services, NextGen Capital can provide the financial support you need.
Dry Cleaner Funding Solutions
Merchant Cash Advance
You get working capital when you need it. We’ll receive a percentage of your daily or weekly credit card sales until the advance is repaid.
Invoice Factoring
Sell us your pending invoices in exchange for the net amount in cash. You’ll receive the balance of the invoices’ value when we receive payment (minus our fee).
Collateral Loan
A secured loan that uses commercial real estate to reduce risk. Because the loan is secured, you may be approved for larger loan amounts with lower rates and fees.
Business Line of Credit
Borrow as much or as little as you need without the obligation of a fixed term loan. Draw and repay as you go, and only ever pay interest on the amount you've borrowed.
How You Can Use Dry Cleaner Funding
There are no limitations on how you can utilize dry cleaner funding from NextGen Capital. This funding is ideal for implementing growth strategies that can increase your revenue, such as:
- Expanding services to include drapery, upholstery, carpet, or leather cleaning
- Adding tailoring and repair services
- Providing same-day service or delivery options
- Offering seasonal garment storage
- Upgrading technology, including new point-of-sale systems and operational software
- Introducing chemical-free and sustainable cleaning methods
- Creating a customer loyalty program for frequent clients or high-volume locations
Will You Qualify for Dry Cleaner Funding?
Exact qualification requirements depend on the type of dry cleaner funding you are seeking. Approval for dry cleaner funding from NextGen Capital isn’t based solely on your credit score or financial history. Instead, we focus on the overall health of your business, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
How Dry Cleaner funding Works:
Dry Cleaner Funding Q&A
Yes, allocating funds toward expanding your marketing efforts is an excellent strategy for growing your dry cleaning business. Whether you focus on digital marketing or traditional advertising, increasing brand awareness and attracting more customers can contribute to long-term success.
You can secure funding from traditional lenders such as banks or the Small Business Administration (SBA), as well as from alternative lenders like NextGen Capital. Alternative lenders offer more flexible approval requirements, taking into account the overall financial health and potential of your business rather than solely relying on your credit score. They also provide revenue-based financing options, such as merchant cash advances, which are ideal for businesses with lower credit scores.
Most traditional banks classify dry cleaning businesses as high-risk due to factors such as fluctuating demand, reliance on disposable income, and environmental regulations. As a result, they are often hesitant to approve funding. However, alternative lenders like NextGen Capital use different criteria to assess eligibility and can approve funding for high-risk industries. In many cases, funds can be provided in as little as 24 hours to cover expenses like labor, materials, and operational costs.
We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.
