The franchising industry is highly competitive and due to tight lending criteria, many franchise businesses are not having access to the money they need. As strict credit guidelines continue to plague the expansion of small businesses, lending experts say that money is for those with “Good Character, Credit, Cash, and Collateral. Merchant Advisors has this covered. Whether you are a multi-unit, a single location seeking expansion or simply want to take your business to the next level, Merchant Advisors can help.
Merchant Advisors offers franchise financing to every kind of business, whether small, medium, large or nationwide – and deals with all kinds of industries. There is zero upfront, no personal guarantee, with 24-hour loan approvals.
We have provided franchise financing to many renowned businesses including McDonald's, Subway, Dunkin' Donuts, Baskin Robbins, Curves, Sonic America's Drive=in, Stanley Steemer, Burger King, Quiznos, Popeyes, Ruby Tuesday, AAMCO Transmission, Buffalo Wild Wings to name a few! We want to continue this success story by helping business owners like you! Visit Merchant Advisors to learn about your franchise financing options today!
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How to Prepare for a Franchise Loan Application?
Before making a franchise loan application, you’ll need to prepare yourself and have some paperwork ready. Here’s a list of things
you need to prepare before you make a loan application:
Your personal credit score is the most important factor for any lender that finances your franchise. This is because lenders want some proof of your reliability as a borrower before lending money. And this is where your personal credit score authenticates your credibility. If you pay your personal debts responsibly, they assume you’ll be responsible with your business debts, too.
Before starting your loan application process, you’ll need to have your financial information ready. Organize your personal financial statement, balance sheet, and income statement. Organizing your financial information demonstrates how well you manage your finances.
A thorough business plan is a critical factor in your franchise loan application. After preparing for personal credit score and financial information, you’ll need to create a strategic business plan. Your strategic business plan should include your business revenue projections, working capital assessment and cost analyses. astute marketing plan, and an expression of your abilities as a business owner.
Types of Franchise Fees Involved
While starting a franchise business, there are few fees you’ll need to pay. With these additional costs, the cost of running a franchise business can increase. This is where a franchise
loan can help. Here’s an overview of the fees included:
Most franchisors charge a fee in the form of a lump sum amount or in installments, and it varies from company to company. This franchise fee is usually non-refundable.
Most franchisors also require an ongoing franchise fee. It can be an intermittent fee or a percentage of the franchisee’s gross revenue. The ongoing franchise fee can vary from company to company, but on average, it can be around 5 - 6% of the franchise sales volume.
Most franchises require participation in a common advertising fund from franchisees. This is usually a fixed contribution, but can also be a percentage of the franchisee’s gross revenue.
Franchisor financing programs, SBA loans and commercial bank loans aren’t the only lending options available when you’re searching for franchise financing. Getting alternative financing is a better way to get quick access to cash in the form of small business loans.
Even if you’re able to secure a traditional loan for your franchise business, you might still need some added cash to keep your franchise running smoothly. Every small business needs extra capital to survive the seasonal highs and lows, make new purchases, or expand. For any type of additional capital needs, alternative lenders can give you what you need.
Merchant Advisors Provides
Fast & Affordable Franchise
From service restaurants to franchises, Merchant Advisors understands that business owners have a lot to deal with from meeting commitments to running their small businesses. Meeting these commitments and running a business efficiently requires extra capital which can be a cumbersome process.
With Merchant Advisors, you can get that extra capital in the form of franchise financing with cash up to $500,000 completely unsecured!apply now
Our Franchise LOAN BENEFITS
- Loan Benefits
- 90% loan approval rates
- Flexible financing plans up to $1 Million per owner
- Fixed low-monthly payments
- 24-hour franchise loan approval
- Flexible monthly loan terms
- Easy application loan process
- Dedicated advisors to franchise brands
- Flexible terms for acquisitions & remodels
- Competitive interest rates
- Master lines for Multiple Store Owners
- Possible tax deduction