- How much money will I need?
- How do I go about funding a business?
- Is the funding safe?
As a franchise consultant, my clients usually have two fears. Fear of failure and fear of funding. In this article we are going to address funding, and in our next Blog post we will address fear of failure.
How to Fund a Business
Most people have bought a house or a car but a business! How does one even start to understand where to find the money to fund a franchise? Here are four interesting facts below and four good ways to fund your franchise.
It is easier to fund a business than to buy a home. You just need the right sources.
- Learn from Gayle at Right Franchising ways to fund a business that are safe, proven and provide peace of mind as you start your business.
- We find good sources with low interest or no interest rates for our clients.
- Right Franchising will provide funding assistance and analysis. So you make the right decision and avoid costly mistakes.
So, there are better ways than to go to my local bank? Yes! Because banks have less money to loan, and they have increased their requirements which often makes loans out of reach for most people and some investors.
Types of Funding Plans
- Rollover of funds – without debt, penalties or interest and the government assumes 40% of the cost of the franchise.
- SBA Express Loans – offers Small Business Loan Express (UNSECURED) loans with loan limits up to $150,000, which are easier and faster to process.
- SBA Loans – Loans with 20 to 30% down depending on credit score and debt ratio. These loans are for franchises that are from 150,000 to 1 million plus.
- No Money Down Loans – these loans require no money down and one can borrow up to $100,000 or more in some cases.
Don’t let the fear of funding stop you from owning a strong performing franchise or business. There is no charge for the conversation only good solid information to help you learn about funding. Your desire for a business may be within your reach and you just need information.
Please call Gayle at 877-307-1458 or email me at Gayle@RightFranchising.com to schedule a brief 30 minute call.