How to Finance a Franchise Business
When you are interested in financing a franchise, you may want to speak with your franchisor to see if they have any options to help. Still, you might want to look around since you may be able to find cheaper alternatives on your own.
There are often financing options offered by alternative lenders, which may help with your franchisor-mandated updates at a lower cost. After you've decided what kind of financing you're looking for and which lender you want to work with, you will need to complete an application and submit the required paperwork such as bank statements, credit reports, drivers licenses, and voided checks.
We have access to franchise financing options. To learn more complete our simple online application and speak with a business financing advisor.
What Sources of Financing Are Available To a Franchise
When it comes to sources for financing a franchise there are many options available. Options include:
1. Franchisor financing
2. Traditional bank loans
3. SBA Loans
4. Alternative lenders
5. Family and friends
It's best to consider all your options when financing your franchise to find out which products fit your business the best.
Learn more about different sources of financing that are available to a franchise by completing our simple online application.
What Are the Requirements For Franchise Financing?
In order to qualify for franchise financing you’ll have to have a solid credit score, business financials and a minimum of two years in business. It may be possible for business owners to leverage their existing franchise to meet the requirements for their expansion when they are looking to finance an additional franchise.
Find out if your franchise qualifies for franchise financing by completing our simple online application today.