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Business Expansion

How This Laundry Business Expanded Amidst COVID With Biz2Credit Financing

Gauntlett Eldemire has operated GSE Laundry, a coin-operated laundry and cleaning business in the Cleveland, OH, area since 2013. Like many small business owners who need capital for expansion, he found that securing the funding for an SBA loan can take months. And like thousands of entrepreneurs, he has come to find out that Biz2Credit can deliver funding quickly into the hands of growing companies.
"They’ve gotten me small bridge loans, as well as loans for bigger dollars. I was in the middle of construction and ran into delays and overruns."
Gauntlett Eldemire
GSE Laundry

"During the past five years, I’ve worked with Biz2Credit to get loans before. I felt like I was in good hands when I work with them,” said Eldemire, a former star outfielder at Ohio University who played minor league baseball with the Lakewood Blue Claues of the Phillies organization.

“I was working with a local bank, but when the coronavirus hit, they were overwhelmed by the volume. I know I could count on Biz2Credit,” Eldemire, who lives in a Cleveland suburb. “I was in the process of getting a new laundromat. They took over the loan application and came through for me.”

Eldemire’s new location in Garfield Heights, Ohio, is four times bigger than his previous one just a mile down the road. He now owns three coin-laundry businesses and hopes to keep expanding.

“When I was playing baseball, I wanted to get into a business that does something that is needed and didn’t require you to have to be there all the time.”
Gauntlett Eldemire
GSE Laundry

His relationship with Biz2Credit began a few years ago when he needed a bridge loan for $50,000 to cover expense until a $287,000 SBA loan that he applied for came through.

“Biz2Credit believed in me,” Eldemire said. “They’ve gotten me small bridge loans, as well as loans for bigger dollars. I was in the middle of construction and ran into delays and overruns.”

“Biz2Credit always comes through in the clutch,” the former pro baseball player said.

Check out this in-depth guide from Biz2Credit explaining how a bridge loan can help you take your small business to the next step.

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