Three Tips for Financing Your Franchise Purchase
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Now is a good time to borrow the money to buy a franchise, say small-business lenders. Banks and finance companies are “flush with capital,” which puts start-up franchisees in a good position, says Reginald Heard, national accounts manager for CIT Small Business Lending in Livingston, N.J. Many local bankers who shied away from franchise loans only a few years ago are granting them today.
Here are three tips for those seeking loans to fund a franchise purchase.
- Get to know your banker.
- Find out if an expedited approval process is possible.
- Don’t give up after one rejection.
Read complete article on startupjournal.com
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