Laundry Equipment can include assets such as commercial washing machines, shirt pressing machines, dry cleaning equipment and coin operated laundry machines. Laundry Equipment is typically very hard wearing and designed to last for a minimum of five years. Portman can provide leasing for this equipment over any period between one and five years.

A recent transaction saw an established dry cleaning business with five sites require lease finance for a new shirt press, boiler and shirt finishing machine. Portman required up to date financial information from the customer including three months business bank statements, latest set of accounts and management accounts. The business was a partnership and the total equipment cost was £30,000. Having received the financial information from the customer, Portman were able to approve the finance within five hours.  All the equipment came from one supplier: Parrisianne Dry Cleaning Solutions Ltd. Portman approved finance over a five year period with a £5,000 deposit. Because of Portman’s flexibility in underwriting, it was possible to finance not only the shirt press and finishing machine but also the more difficult boiler. The customer was very pleased with the service he received and indicated he would use Portman for all future equipment leasing requirements.

Portman have a very understanding outlook toward laundry equipment and it is very unusual for Portman to be unable to approve equipment leasing in this sector. Many laundry customers come back to Portman time and time again because of the service and highly competitive rates.