By Curt Newsom, Vice President – Ascentium Capital.
Although most local banks and lenders still have little or no interest in lending money to new or experienced car wash operators, there are options available. Ascentium Capital (www.AscentiumCapital.com) is a specialized direct lender who has committed over $50,000,000 in capital for the financing of equipment to the car wash industry.
Due to Ascentium Capital’s dedication of lending to the car wash industry, we are seeing continued increases in financing activity. We are making it easier and more convenient for car wash operators to obtain financing for replacing equipment, and also equipment for new locations.
Generally, we can approve 100% financing for up to $250,000 in equipment with just a completed credit application in only 24 hours. This is fixed rate financing with terms up to 72 months.
Our business has steadily increased over the past 9 to 12 months as car wash operators have sought out alternative financing for their equipment purchases other than their local bank.
For more information you can contact Curt Newsom directly at CurtNewsom@AscentiumCapital.com