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Cents Launches Lending Service for Laundromats

Cents Capital designed to facilitate low-interest loans

NEW YORK — Cents, a business management and in-store operations platform that enables laundromat owners to start, manage and grow their business, has launched its lending arm, Cents Capital, to facilitate low-interest loans for its customers and operators in the laundry industry.

With the introduction of SBA and commercial loans, Cents says it will be able to help owners grow their businesses, whether that is expanding their footprint, retooling their store, buying new card systems, or using working capital to expand operations.

“At Cents, our core focus is to partner with our customers and create products and solutions that enable our operators to scale and succeed,” says Alexander Jekowsky, CEO and co-founder of Cents. “It’s about providing real value and optionality for our operators beyond just technology.

“Through Cents, and by utilizing our complete product line, operators can access capital more easily than relying exclusively on bank deposits and utility bills. Whether it’s $25,000 for a retool or a $1 million-plus development, Cents Capital is there to support our customers at a competitive and affordable rate.”

“Working with Cents Capital definitely helped streamline the acquisition of my card readers and equipment,” says Steve Burk, owner of The Laundry Bin, Allison Park, Pennsylvania. “Being able to get everything in one place was much simpler.”

Cents Capital provides access to financing so laundromat owners can manage cash flows and invest in growth, the company says. As the product develops, operators and distributors will have different ways to manage payments, track capital deployment, and access other banking-as-a-service products.

“Capital is a critical tool that we can offer to help supercharge our customers’ growth,” says Pablo Marvel, head of business development at Cents. “Our aim is to take your focus off getting the loan and give you back all that time and money to invest elsewhere, for operators and distributors alike.”

Cents Capital is available to all owners, operators, and distributors, whether or not they use Cents’ operating system.

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Have a question or comment? E-mail our editor Bruce Beggs at [email protected].