Frequently Asked Questions
- Q.Do you offer pre-approvals?
- A.Yes, our PREQUAL Program allows customers to receive immediate feedback based on an estimated financed amount by submitting only a completed credit application and personal financial statement
- Q.How fast can I expect an answer on my credit application?
- A.Typically credit decisions are made within 24 hours of receiving a complete application package.
- Q.How do I get started?
- A.Complete our one page credit application and visit your local distributor to identify your equipment needs. Your distributor will assist you in preparing a complete finance package based on the amount of your loan request.
- Q.What are my cash investment requirements on a new store purchase?
- A.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.
- Q.Are there any prepayment penalties?
- A.No, our loans can be prepaid in full or part at anytime without penalties.
- Q.Is there an application fee?
- A.While Alliance does not charge an application fee there is a one time administration fee due after loan closing. For financed amounts less than $100,000 there is a $150.00 fee. Amounts of $100,000 and over are at $300.00. Seasonal promotions, refinancing and acquisitions may deviate from the standard.
