How to Buy a Franchise Using Credit – Robert Bennett – Fran Finders
If you’re exploring ways to fund a franchise purchase, you may want to consider getting financing.
Depending on your purchase and your personal finances, you may qualify for government-backed lending.
The Small Business Administration offers a loan product called the Express Loan.
The guidelines are as follows:
No personal assets are used for collateral, unsecured business loans use only business assets as collateral .
You require a minimum of a 680 FICO score (as of this video)
You only need a 10% cash injection in to the loan. So if you wanted to buy a franchise for $100,000, then all you would need is $10K.
If you’d like to learn more, please reach me.
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Rob Bennett is the Co-Founder of FranFinders, a franchise consultancy and funding group.
At FranFinders, we are more than franchise consultants. We are “Your Partners.” Throughout your franchise search, from the Initial Call to your Grand Opening, we are with you “Every Step of the Way.”
By partnering with us, you get our Experience, Knowledge and proven 10 Step Franchise-Buying Process that will bring Clarity and Direction to your franchise search. Gain Confidence, knowing that you are partnering with professionals.