Whether you wish to expand an existing business, start a new business or simply buy-out a partner, our experienced franchise consultants can provide everything from pre-qualification, consulting and loan packaging to sourcing capital from our network of lenders.
Up to 100% financing. Terms up to 10 years, 25 years if tied to real estate
Up to 85% financing for outside buyer. Up to 100% if partner/shareholder
Up to 85% financing on startups and acquisitions. Terms of up to 10 years, 25 years if tied to real estate
Generally, we are able to obtain financing without minimum collateral requirements for start up loans of up to $350,000; acquisition loans of up to $1M.
As a rule of thumb, the borrower should not have any bankruptcies, any credit / loan late payments (especially for mortgages), felony arrests and should have a mid credit score of at least 575.
The business in question must also qualify with the lender. The lender will look for proof that the business is a viable operation. They will require:
- At least 2 years financial statements of said business.
- Adequate historic cash flow to cover new proposed debt.
- Business debt to net worth ratio must meet industry averages.
In every loan scenario, it is also important to have minimum 2 years industry experience.
* For a Medical Practice Loan, the borrower should have 2 years post residency experience.