In the Wall Street Journal it was written that more franchisees were being denied. "Thirty-nine percent of franchisers said more than half of their franchisees and franchise prospects were unable to obtain needed financing, according to a March survey of 147 franchisers by International Franchise Association, a trade group. That's up from 33% who responded to a similar poll in November of last year." This trend is causing many franchisees to forget the dream of owning their own business.
The article also mentioned that, "Franchisers say they can no longer rely on a handful of national lenders to fund their franchisees and must now court regional and community banks that may be unfamiliar with their brands or even franchising in general. "Given the dearth of national lending programs, you [have to] talk to 15 to 20 regional players and then do the same for local players," says Mr. Walker. "I don't have the time to do that." This is where Incompro Capital Lending can help. We have experience helping franchisees get financed. Understanding what lenders are looking for in good clients and having access to multiple lenders gives Incompro Capital Lending an advantage.
As mentioned in past articles I have written most franchisees have four options to finance their new or expanding franchise.
Borrow Money - SBA Loan
Unsecured line of credit
Find a Partner with Money
Choosing to use Incompro Capital Lending gives you access to all types of financing. Whatever, the best financing option is for your current status, Incompro Capital Lending can help. Incompro Capital Lending has a relationship with the largest SBA lender in the US and has built strong relationships with top executives in private investing firms. By choosing us, we allow flexibility in franchise financing and save you time talking to multiple lenders to access the funds needed to build your dream.