We can connect you with 3rd parties lenders or you can utilize your own contacts to pull the resources together to get your franchise open. Our 3rd party lenders do non-collateralized loans unlike traditional banks.
A FEW TIPS
- Talk to your franchisor before searching for outside financing; get approved or pre-qualified.
- The most common source of start-up capital is friends and family. Use them.
- Seek out lenders that understand not just small business but franchising as well.
- Be totally honest and upfront with lenders. Hide nothing. Be prepared to explain everything.
- Neatness counts. Fill out your credit and loan applications clearly. Typed is better.
- Don't weigh down your loan application with attached documents.
- Don't exhaust your liquidity by paying off outstanding debts before filing a loan application. Lenders want you to have capital available.
- If you lack liquidity, find a partner with money.
- Consider equipment leasing to conserve start-up capital and improve the appearance of your balance sheet.
- Keep debts and expenses to a minimum. Many business owners take on too much debt, forgetting that cash flow must pay that debt.
- Consider buying used equipment, furniture, vehicles, etc.
- Let your fingers do the walking on the Internet before wasting time, energy, gas and phone calls. You'll find useful information.