Finance

Financing A Franchise Business? What You Need To Know To Obtain Finance For A Franchise

Can too much expert knowledge in financing a franchise business ever be a bad thing? We certainly don’t think so and we’ll show you how to obtain finance for a franchise business that you have chosen to purchase.

When talking to clients about franchise finance in Canada we generally talk about the Boy Scout motto. You will recall that their motto is ‘ BE PREPARED ‘ and that’s the total strategy around financing a franchise successful that you must adopt.

Getting the money to purchase your franchise of often the biggest worry of new entrepreneurs such as yourself. People search out franchising opportunities because they are essentially looking for a combination of opportunity and wealth – there is usually only one major obstacle to that road to success, it’s the funding for the acquisition of the franchise business.

If we had to summarize in a very simple and basic what you need to be successful in franchise financing we would boil it down to a few key issues. Want to know what they are? From our perspective it all comes down to a reasonable history of business or management experience , a decent personal financial profile – more about that one later, and access to the ‘ inside secret ‘ of franchise financing in Canada, which, you may be surprise to know, is the government of Canada !

Let’s circle back on those points – and as always it comes down and back to our Boy Scout motto – be prepared. We can see our client’s eyes rolling back now when we tell them we need a crisp business plan . That’s a key requirement of your ability to obtain finance for a franchise, simply because it’s the ‘ proof’, if you will, of your ability to understand and run your business properly. In that document you have info about yourself, the business you are purchasing, the industry you are in, and the financial performance you expect to achieve in your new role as business owner and entrepreneur.

From a lenders perspective financing a franchise business is all about one thing – getting paid back for the loan. So the lender will look at how you have structured the financial portion of your business plan to reflect ability to repay your franchise loan, as well as how much cash flow and working capital is left to pay yourself a salary and run your new business. Could anything make more sense than a properly crafted and positioned business plan – we don’t think so.

Your money – you have it, you want to keep it – don’t we all. However, whether it’s a franchise business or any business for that matter OPM never works – OPM is ‘ other people’s money’ and you can’t rely on 100% of outside financing to obtain finance for a franchise in Canada. So be prepared to invest anywhere from 25-50% of the purchase price into your acquisition. Coupled with that and this is critical, you must be able to demonstrate that you have run your personal and business affairs respectably from a credit perspective. Obtaining a copy of your credit report, in advance, by you, is strongly recommended.

And, oh yes, what about that Government Issue we mentioned. That’s one of the great secrets and tips we promised to reveal. Did you know that probably 90% or more of financing a franchise business in Canada revolves around a special loan program called the CSBF/BIL loan? It’s a federal program, and administered by financial institutions. Whats so great about it – limited personal guarantees, great rates, terms and structures.

Speak to an expert in franchise financing when you are looking to obtain finance for a franchise – seek out someone who is trusted, credible and experienced. Be prepared, and get ready to be successful.

Stan Prokop is founder 7 Park Avenue Financial ; Originating financing for Canadian companies,specializing: working capital, cash flow, and asset based financing , the 6 year old firm has completed in excess of 45 Million $ of financing for companies . For info / free consultation on Canadian business financing / contact details see:
http://www.7parkavenuefinancial.com/financing_franchise_business_finance_for_franchise.html

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Home Loans For People With Poor Credit – Surely There’s No Way of Securing Finance For My New Home

Millions of Americans and indeed people worldwide have been fighting against financial difficulties over the last year or so. It seems that most creditors merely want to know how good your credit score and financial history is.

So is there any chance of being approved for Home Loans For People With Poor Credit?

Well, it’s sad but true. But the bottom seems to have fallen out of the property market. The rate of foreclosures is rising significantly and the value of property is at an all time low. Therefore lenders are now in a situation where many potential borrowers shy away from purchasing a new home. This will of course have a detrimental effect on Banks, lenders and any home loan financial institutions.

You must remember that all these organizations are actually businesses. If a business is not making any money, then it is likely to fail. This, however, is fortunate for you. Most lenders now realize that they need to change the way they view their clients and will also need to ring the changes to their lending criteria. Thus making it actually easier to borrow money in this day and age.

Don’t get me wrong, no lender is going to provide Home Loans For People With Poor Credit without carrying out some form of risk assessment. However, if you are able to show clearly how you will be able to afford your monthly repayments and that you are willing to be responsible, then you stand a better chance than most.

There are a number of financial institutions now that solely deal with those of you who have adverse credit. Once again, it makes good business sense to them. In addition to this, it is human nature that if you have fallen into financial troubles before, you will do your utmost not to go down that route again. A case of “once bitten, twice shy!”

So yes it is possible to get Home Loans For People With Poor Credit.

Do you desperately need to know how to find Home Loans For People With Poor Credit?

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Short Term Business Loans: Quick Finance For Multiple Cash Requirements

Do you need to pay off your pending expense? But, insufficiency of funds is the main problem before you? Then, consider short term business loans and fulfill your all kind of immediate and pending business needs on time.

To quickly get approved for short term business loans first you need to complete certain norms that can be as follows:

ØOne must attain the age of 18 years or above

ØOne must hold an active bank account for direct money transaction

ØOne must be the permanent inhabitant of UK.

ØOne must be working and have regular income of £1000

The cash you can fetch varying from £100 to £1500 as per your need and monthly repayment capability. Here, lender allows you to repay the amount till the date of your next payday means you have 14-31 days with you. Now you can easily repay the amount as per your comfort and convenience. But, it is advisable that make the payment on time otherwise penalty should be impose on you.

The approving procedure of short term loans can be very easy and hassle free as it can be completed online. Just fill out the single online form with basic details and get submit it online. Lender will review it and approves you funds without any hassle and delay directly in your checking account.

In order to get approved for this loan you do not need to fulfill numerous requirements like tedious credit check, collateral assessment and lengthy paperwork procedures. Thus, anyone can simply get approved for the desired amount without wasting their time and effort.

With the borrowed funds people can meet with their numerous needs on time like paying medical bills, credit card dues, household expenses, educational needs, holiday expenses etc.

The interest rates of these loans can be slightly higher due to its unsecured and short term feature. So, do not worry about the tedious process and high interest price as it can be negotiable. Apply today if need hassle free funds for your needs.

Andrea Fletcher is an MBA with a Master’s in Finance. She has an expertise in writing on topics related to finance. Here she shares her views on short term business loans, short term payday loans. For more information log on http://www.shorttermloansuk.co.uk

Bad Credit Loans – Easy Finance For Bad Creditors

Due to the rising expenses, most of the people suffer from defaults like late payments, arrears, bankruptcy and so on. These defaults make the person a bad creditor and once he has this tag, it becomes very difficult for him to avail any finance if he needs urgent cash. In such dire situations, one can apply for Bad Credit Loans.

Bad Credit Loans are finances which cater to the immediate needs of bad creditors. These finances can be availed in secured and unsecured forms.
In the secured form, the lender requires the borrower to place his property as collateral to avail the finance. Since the borrower is facing a risk of losing his property, the lender will charge him with a lower rate of interest.

However, in the unsecured form, the borrower need not place his property as collateral to avail the finance. Due to this, the lender charges the borrower with a higher rate of interest.

The lending institutions can sanction an amount ranging from 1000 to 25000 and they have a stipulated time period of 1 to 10 years to pay the amount back. The borrower can give the lender a notice if he wants to extend his repayment term.
The borrower has to meet certain criteria to be eligible for this finance. They are as follows:

The applicant should be a permanent citizen of U.K.
The applicant should be an adult of 18 years or above.
The applicant should be employed in any organization and should earn a regular monthly income.
The applicant should also have an active bank account.

The borrower can avail this finance by applying for it online. The application form is easy to fill out and can be submitted with the click of a button. The lender will then verify the information provided to him and if the finance is approved, the money is electronically transferred to the borrowers account.

Mark Tomkins had been associated with Unsecured Loan For Bad Credit for quite a long time. He is an expert in financial metters and writing useful articles. To get unsecured loans for bad credit, long term loans for bad credit, unsecured joint loans and loans for people on benefits.

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