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Updated 3 months ago,
Laundromat/Mixed Use Remodel
I am owner of a building in a Class C City in western PA. We are working on finishing rehab on the apartments (a 1 bed 1 bath and a 2 bed 1 bath) and are working to turn the bottom floor into a laundromat. We are seeking a line of credit or remodel loan on the building to finalize the project. The building is worth $160,000 and we don't have any loans on it. We are seeking about $100,000 in working capital or a LOC for this project. Looking for a business loan that's not on a 1 year payback like most hard money. Maybe minimum 5 years?