At the beginning of this year I bought my first house thanks to a loan (480000). But now I’m seriously thinking about opening a laundromat. Do you think it would be possible for another bank to give me a loan to start a new business considering that to open a laundromat I’m going to need at least 20000 - 50000$$?
If you can get a good enough price and have the ability to service the debt, you can almost get as much as you want.
If the bank thinks you will/can pay them back, they will loan you money
I tried the laundromat business long ago, (bought a complete laundromat washers dryers of a closing location and moved it to a perfect location) I closed it before opening and sent most of the washers to the scrap yard, others were sold on the side) because I was told by every laundromat owner that if I didn’t know how to fix a machine myself that I should not go in to this business.
Good advice
Short version, probably not. Long version, maybe, but it would have to be a smallish local bank and you need to have enough equity in your home to borrow against.