Before you give up on your dream to be the boss and own your own business, because you don’t think you have the capital to do so, take some time to explore several fantastic funding options available to you! Our franchise consultants will help you get educated on the best combination of financial strategies for your situation. Our network of franchise financing providers offer competitive rates, which allow you to start your franchise business with the best financial conditions!
Here are some of the options available to you:
- 401K / IRA funding: You can fund your franchise using your previous employer 401K or IRA while avoiding tax penalties, or incurring debt.
- Unsecured loans: If you have a FICO score of 700 or higher, you may be eligible to a unsecured line of credit. These credit lines don’t require a personal guarantee, or collateral. This is relatively simple to obtain!
- SBA Loans: Many franchise companies are pre-approved by the SBA, and banks are more likely to provide franchise financing in those cases. These loans typically have a 7-10 year term. In addition, the SBA has a program for funding military veterans.
- More options available: there are more funding options available, such as securities-based lines of credit or home equity lines of credit. Talk to us to learn about your options.