On of the great thing about America is that you can freely start your own business. Your good ideas and hard work can be harnessed into a profitable enterprise that you own.
One of the most interesting way to participate in your own business venture is to become a franchisee. In doing so, you already enter into a business model with a nationally recognized name and a set of products that people know and love.
The Small Business Association
The federal government encourages small businesses. On of the ways they they do this is via the Small Business Association (SBA). The SBA offer a spectrum of loans and other assistance specifically designed to aid small business. Their loans backed by the U.S. Federal Government and administered through numerous private lenders and finance agents.
Funding for Franchisees from the SBA
The SBA provides several loan types that may be highly useful for franchisees needing an infusion of working capital. Two of the most useful are these:
- SBA (7a) Loans. These loans are available to franchisees to provide funding for many purposes such as buying property, refinancing debts, and general infusions of working capital.
- SBA 504/CDC Loans. Franchisees can also benefit from these loans, which are designed to purchase major types of fixed assets as well as the purchase of real estate.
Obtain Your SBA Funding through Point High Finance
Be sure to contact Point High Finance when you are ready to apply for an SBA loan for your franchise. They make it easy to apply and you will be pleased with the speedy arrival of your funding.
Make sure that you have a few important items available when applying. These include a copy of your signed franchise agreement, your personal financial information, and details of your franchise business finances. In addition, you may need a record of any previous loans that you have outstanding.