Financing your Franchise
About ninety percent of new franchisees seek bank or alternative financing to get their businesses off the ground. There are many funding options to consider outside of the traditional banks such as credit unions, government programs, state programs and other niche programs designed especially for minority groups.
Getting Started on Your Business Plan
The writing of a business plan can be a daunting process, especially for those who aren’t very confident about their writing skills. Nevertheless, every new business venture, including franchises, requires a business plan to be written at the early stages of the franchising process.
The writing of a business plan can be a daunting process, especially for those who aren’t very confident about their writing skills. Nevertheless, every new business venture, including franchises, requires a business plan to be written at the early stages of the franchising process.
Creating the Business Plan
Piecing together the various section of a business plan will take time, patience, and a lot of thinking and re-thinking about your franchise venture and its future success. Whether you are writing your plan from scratch, following an established format, or using a computer-generated template, the anatomy your business plan should contain these seven key sections.
Piecing together the various section of a business plan will take time, patience, and a lot of thinking and re-thinking about your franchise venture and its future success. Whether you are writing your plan from scratch, following an established format, or using a computer-generated template, the anatomy your business plan should contain these seven key sections.
An Overview of the Small Business Administration (SBA) & Loan Programs
The SBA was founded in 1953 and is the largest government-backed funding agency in the United States, providing an array of financial assistance programs to small businessess, including specialized programs for women, minorities and armed forces veterans. There are three loan options to fund your franchise venture.
The SBA was founded in 1953 and is the largest government-backed funding agency in the United States, providing an array of financial assistance programs to small businessess, including specialized programs for women, minorities and armed forces veterans. There are three loan options to fund your franchise venture.
SBA Basic 7(a) Loan Program: Guidelines
The 7(a) loan is the most basic and most common type of SBA loan available to all start-up businesses, including franchises. Lenders who participate in offering this loan do so as per guidelines of the SBA who in turn issues a guaranty to the lender for a portion of the loan.
The 7(a) loan is the most basic and most common type of SBA loan available to all start-up businesses, including franchises. Lenders who participate in offering this loan do so as per guidelines of the SBA who in turn issues a guaranty to the lender for a portion of the loan.
SBA Microloan Program: Guidelines
The Microloan Program provides small businesses with loans of up to $35,000 for start-up or ongoing funding needs. Under this program, the SBA makes funds available to local, nonprofit community-based lenders (called intermediaries) who re-distribute the funds to eligible borrowers.
The Microloan Program provides small businesses with loans of up to $35,000 for start-up or ongoing funding needs. Under this program, the SBA makes funds available to local, nonprofit community-based lenders (called intermediaries) who re-distribute the funds to eligible borrowers.
SBA Prequalification Program: Guidelines
The Prequalification Program uses intermediary organizations to assist borrowers with their loan application packages and making them suitable for submission to lenders. This program targets low-income and disabled individuals, new and emerging businesses, veterans, exporters, rural, and specialized industries.
The Prequalification Program uses intermediary organizations to assist borrowers with their loan application packages and making them suitable for submission to lenders. This program targets low-income and disabled individuals, new and emerging businesses, veterans, exporters, rural, and specialized industries.
Funding Your Franchise in Canada: The Canadian Small Business Financing Program
The Canada Small Business Financing Program was established in 1999 and its goal is to increase the availability of loans and capital leases to assist and improve Canadian small businesses. Funded by the majority of financial institutions and select leasing companies, the federal government guarantees 85% of the lender’s losses in the event of borrower default.
The Canada Small Business Financing Program was established in 1999 and its goal is to increase the availability of loans and capital leases to assist and improve Canadian small businesses. Funded by the majority of financial institutions and select leasing companies, the federal government guarantees 85% of the lender’s losses in the event of borrower default.
Has Your Franchisor Registered With the Franchise Registry?
The Franchise Registry is a service that benefits both franchisors and franchisees, provided by FRANData, an organization that supplies objective information and analysis on and about the franchise industry. The Registry lists names of franchise companies whose franchisees enjoy the benefits of a streamlined review process for SBA loan applications.
The Franchise Registry is a service that benefits both franchisors and franchisees, provided by FRANData, an organization that supplies objective information and analysis on and about the franchise industry. The Registry lists names of franchise companies whose franchisees enjoy the benefits of a streamlined review process for SBA loan applications.
Franchising for Veterans: The VetFran Program & the VBOC
For veterans retiring from duty, the transition from military to civilian life can be unsettling and frustrating. While many veterans in the past may have considered buying a franchise, the uncertainty, unfamiliarity, and financial requirements of business life can quickly strike franchising off the list – until now.
For veterans retiring from duty, the transition from military to civilian life can be unsettling and frustrating. While many veterans in the past may have considered buying a franchise, the uncertainty, unfamiliarity, and financial requirements of business life can quickly strike franchising off the list – until now.
GE Franchise Finance
GE Franchise Finance is a leading lender for the dynamic franchise market in the U.S. and Canada, providing financing for many nationally known concepts in the restaurant, hospitality, petroleum and automotive industries.
GE Franchise Finance is a leading lender for the dynamic franchise market in the U.S. and Canada, providing financing for many nationally known concepts in the restaurant, hospitality, petroleum and automotive industries.
Butler Capital
Butler Capital is a national, direct lender offering competitive fixed-rate loans and leases for amounts that generally range from $25,000 to $1.5 million – all with uniquely flexible terms. Unlike conventional lenders, brokers, or government agencies, at Butler Capital you’ll receive credit decisions typically in 72 hours or less.
Butler Capital is a national, direct lender offering competitive fixed-rate loans and leases for amounts that generally range from $25,000 to $1.5 million – all with uniquely flexible terms. Unlike conventional lenders, brokers, or government agencies, at Butler Capital you’ll receive credit decisions typically in 72 hours or less.
Edlo Leasing
Established in 1993, Edlo has been providing leasing and financing options for franchise concepts and general business equipment leasing since 1994.
Established in 1993, Edlo has been providing leasing and financing options for franchise concepts and general business equipment leasing since 1994.
Popular Leasing
Popular Leasing offers small business financing, franchise and municipal real estate loans with the quality, service, and simplicity of a leasing company. With their bank partnership, they can assist you with a wide spectrum of products so all your needs can be fulfilled from one source.
Popular Leasing offers small business financing, franchise and municipal real estate loans with the quality, service, and simplicity of a leasing company. With their bank partnership, they can assist you with a wide spectrum of products so all your needs can be fulfilled from one source.