Building a Lending Powerhouse with Michael Fanger & Brian Grell

Live from The 2022 CLEAN Show, Dave and Carla Menz interview two industry leaders - Michael Fanger & Brian Grell, the founders of Eastern Funding, a premier financer for laundry businesses. Learn how they started the company 25 years ago and what they see for the future of our industry.Referenced Links:• H-M Company Drain Troughs: https://draintroughs.com• Laundromat Millionaire Conference Videos: https://laundromatmillionaire.com/resources• Link to get Atmosphere TV:https://atmosphere.tv/partner/dave-menz and use code “MILLIONAIRE”o Contact Mike directly: [email protected]’s Website: https://easternfunding.comOur website: www.laundromatmillionaire.comOur Online Course: https://dave-menz.mykajabi.com/sales-pageOur Youtube channel: https://youtube.com/c/LaundromatMillionaireOur Podcast: https://laundromatmillionaire.com/podcast/Our Facebook: https://www.facebook.com/laundromatmillionaire/Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaireOur LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/Our Instagram: https://www.instagram.com/laundromatmillionaire/Our laundromats: www.queencitylaundry.comOur pick-up and delivery laundry services: www.happynest.com/locations/ohio/cincinnatiThe Clean Show: https://the-clean-show.us.messefrankfurt.com/us/en.htmlAlliance Laundry Systems: www.alliancelaundry.comDexter Laundry Equipment: www.dexter.comCoin Laundry Association: www.coinlaundry.orgPrime Capital: www.goprimecap.comTeeters Equipment: https://tplaundry.comPodcast with Art Jaeger: https://youtu.be/M-iqjGYZgBgLaundryCares: https://laundrycares.orgExcellence in Laundry 2023: https://www.coinlaundry.org/events/excellence-in-laundry-conference/Timestamps00:00 Laundromat Millionaire Intro01:59 How it started 25 years ago07:22 Brian’s Contributions to the Team10:06 Why Successful & Where We Are Today11:38 Michael’s Contributions to the Team13:25 The Laundromat Craze of Late 80’s-90’s14:32 Why They Joined Together16:05 More Than Just a Service Provider16:41 How They Changed Laundromat Financing18:43 Reaction to the Pandemic24:41 Benefits of Industry Specific Financing34:14 Advice for New Owners in the Industry35:26 How Eastern Funding is different from Banks39:25 Changing the Mindset of the Industry41:55 How the “Zombie Slayer” came to be47:37 The Mission Behind “ZombieMats”48:41 The 3 Questions to Answer to Know When to Retool53:37 Where do you see our industry going in the future?Learn more about your ad choices. Visit megaphone.fm/adchoices