FINANCING: Your #1 priority before acquiring a business.

Financing the purchase of a business is similar to processing a home mortgage. Though some investors have the financial means to pay cash, most prefer the leverage of financing to acquire a business.

MegaWash^® will provide the tools and guidance required to make the process as simple as possible. Our goal is to pre-qualify you for financing and help you select the best business opportunity as soon as possible.

Use our  process to pre-qualify for financing

Basic assumptions about the financing process:

• You may need financing for equipment, renovations, working capital and possibly real estate.

• You will need approximately 20% of the total investment in cash to use as a down payment or working capital. ($15,000 - $125,000 depending on the business opportunity selected)

• The willingness by lenders to finance your project will be driven by your FICO score. You need a FICO score of 660 to qualify.

• You will be required to provide detailed personal and prior business financial data associated with the loan application process.

Steps Step by step loan pre-qualification process:

• First you need to determine your FICO Score. To determine your FICO score you can visit the FICO website listed on this web page.

• You should order a current credit report. This may be necessary for disputing any inaccurate or out of date information which could affect your FICO score. The major credit reporting agencies provide credit reports for a nominal fee.

• Prepare a Personal Financial Statement. This is a compilation of all your current assets and debts. The difference in the value of your assets and debts is your Personal Net Worth. Documenting your Personal Net Worth plays an important role in most lenders credit decisions. Select the "Lets Get Started" link and complete the submission form. An electronic form package will be emailed to you. Follow the instructions and complete the Personal Financial Statement. Save the completed form on your computer for future reference.

• Now you need to determine how much financing is needed for your project. 24/7 CLEANERS and each of the MegaWash Model Stores has a business case can be downloaded. You can use this information in the pre-qualification process. Select your business opportunity and print or download the associated business case.

• If you are primarily interested in a 24/7 CLEANERS^™  the SimpleSBA review process is not required.

• Though MegaWash and our Approved Vendors have financing sources available, we recommend using an independent resource to determine your prospects for financing. When you completed all of the previous steps and need to finance a MegaWash^® 1200, 2400 or 3000, you will have the information required to complete the pre-qualification process. Go to the SimpleSBA link on this web page and familiarize yourself with their pre-qualification process.  DO NOT INITIATE THE SIMPLESBA PRE-QUALIFICATION PROCESS UNLESS YOU HAVE COMPLETED ALL THE REQUIRED STEPS FIRST! Completing the SimpleSBA pre-qualification process without complete and accurate information could adversely affect your FICO score.

• After completing the SimpleSBA pre-qualification process and receiving their response you will have reached a decision point. You will be required to make a $2500.00 deposit on a MegaWash Business System. The deposit will be fully refundable prior to execution of the Licensing Agreement. To take the next step select the " Let's Get Started" button.