Local Business Renamed Wishy Washy Laundromat, Benefits from Microenterprise Loan Program
Chant and Amy Singvongsa recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program for the purchase of the Jackson Laundromat from Dave and Ester Bargfrede, who owned the business for many years. The new owners renamed the business Wishy Washy Laundromat. It will offer full laundromat services with a number of new machines, a laundry drop-off service, and a pick-up and delivery service for wind project worksites.
Chant has been working in the business for the past several months in training to take over the business. The Wishy Washy Laundromat will be open daily from 7 a.m. to 9 p.m. Contact Chant or Amy Singvongsa with questions about their services at 507-847-4276.
“We are pleased to assist Chant and Amy with the purchase of the laundromat,” said SWIF Program Officer Kurt Thompson. “It will keep a vital community service business in operation.”
Proceeds from the loan will be used to purchase equipment and provide working capital for the start up of the laundromat. SWIF’s Microenterprise Loan Program offers loans of up to $35,000 for starting or expanding for-profit small businesses located within the 18 counties of southwest Minnesota that have a need for additional sources of funds. In addition, technical assistance is available from SWIF as needed for the length of the loan. The program receives funding assistance from the U.S. Small Business Administration, as well as from the U.S. Department of Agriculture.
The Southwest Initiative Foundation is a regional community foundation dedicated to advancing southwest Minnesota through leadership, relationship building, program development and philanthropy. The Foundation has contributed more than $53 million through its grant and loan programs in southwest Minnesota. It has also helped more than 510 businesses start or expand through its business finance programs, which have created or retained more than 7,900 jobs. The Southwest Initiative Foundation is an equal opportunity provider. To learn more, visit www.swifoundation.org.
