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:

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Short Term Sameday Loans – Obtain Fund Same Day for Small Needs

In the event of sudden crisis requirements, you eternally search around for additional economic aid from any exterior money resource. In fact, if you are on the look out for emergency financial help, then you can easily go for short term sameday loans which are an ultimate solution of complex abrupt emergencies.

You may get finance within a single day only if you apply for these loans. These advances offer extraordinary support of course to the borrowers. They may apply for this help whenever they feel that they require urgent funds. Without any doubt of delay, lenders approve the amount to them within 24 hours of clock time.

If you are feeling like having no fast way to obtain cash for your small needs even, then also you may go for this service without any uncertainty. In fact, this financial help are issued mainly for short term only and you may get small finance with the help of these schemes.

Under the 12 month loans, people are able to grab the fund up to £1500 for the time period of 1 to 30 days. It is short term help so you get the amount at higher interest rate. However, pay back the loan on time and you will not be into any kind of trouble.   

This facility is only for people who live in the UK and have the citizenship of the UK. It is necessary that they have age more than 18 years only then their application will be accepted. After that, lenders check fast loans potential of the borrowers so they should have a fixed income source. In the UK, applicant must have a checking account.

Borrowers have option of applying through the online and offline medium. However, choosing the online mode will be beneficial because of the fast and easy process. You just need to give your details in the form and lender allows the loan.

Alex Jonnes is financial adviser for Online Loanss. click on the links to know more about short term sameday loans, payday loans no faxing, payday loans no credit check and 12 month loans.

How to Obtain a SBA Loan – FrugalTech

http://www.frugalbrothers.com I have received many requests to talk about getting the funds to start or expand a small business. Here is some info on how the…
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How to Obtain an Auto Loan

How to Obtain an Auto Loan

How to obtain an auto loan [Article]

In this 56 page article you will learn tips on different options of applying for different types of auto loans, what to look out for at the dealership, what to look out for from the finance company, how you can get a good interest rate, how you can do comparisons before you buy, how you can avoid buying too much car, what ‘extras’ to buy, why and where to research and what dangers to look out for. (Article: 13,029 words)


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The Criteria To Obtain Sba Loans

Everyone needs financial help to get ahead, whether it is for business or personal reasons. Unfortunately, many banks have tightened their belts, making it difficult for an entrepreneur or even a consumer to progress toward their goals. There is financial help for the small business owner available, but it is of the essence for the entrepreneur to do some thorough research. It is important to know the criteria to obtain SBA loans as this will increase the chances of getting an approval.

These source of financing comes through the Small Business Administration and provides both short-term and long-term loans. These are available to entrepreneurs who are of course, credit-worthy to begin with. To be eligible means knowing the answers to all the questions the Administration may ask of you. The tips below can help you through the process and ultimately achieving the financial help needed.

It is of the essence to be as prepared professionally as possible. That means beginning with a good business plan. Without a plan, there will be no continuance of the file. The point of this financial aid is to create a plan that demonstrates exactly how income will be generated. It shows the SBA that there is a feasible plan that will enable the entrepreneur to repay the funds borrowed.

This is the most important part of getting approval on the loan. Therefore, it is of greatest importance that the business plan is strong, showing market research, time-frame for profitability and of course, how and when repayment will occur.

This organization will not fund the entire venture. Depending on the nature of the business and other criteria they may fund up to 75% percent, which means that the rest needs to come from other sources. If the other sources include a personal investment, it could open the doors to becoming approved for the loan. They believe that anyone who risks their own money will work that much harder to make it a successful business.

A credit-worthy entrepreneur is necessary for eligibility, as mentioned above. Therefore, the entrepreneur applying has to have a very good credit score which is at least 650 points. A credit check is part of the procedure and a lot rides on the examination of the report. Make sure that your bills are always paid on time and that you don’t have excessive debt. It takes quite a bit of time to increase the beacon score and have a good name with creditors. If yours is lacking in any way, then finding some partners with more credibility would be recommended.

In dire need of financial help for business or personal reasons? Get more info on how to apply for sba loans on http://instantloans-credit-insurance.com