If you are considering the purchase of a franchise business, a Business Financial Consultant can help.  Whether it is a restaurant, retail or service related business, a Business Financial Consultatnt can help you achieve the dream of owning your own business.

One of the most advantageous avenues of funding for franchise purchase or the purchase of a new or existing business is the Small Business Administration (SBA).The SBA is a government entity established to help small business owners who cannot find funding from conventional lenders.

The SBA has many different types of funding available.The program that is most used is called the 7(a) program.This loan can be used for many purposes including franchise purchases , machinery and equipment purchases, real estate purchases, inventory, working capital, construction,renovation and debt consolidation to name a few.This type of financing is long term. Eligibility requirements depend on the applicant's personal resources, liquid assets and overall financial situation or net worth.

Another program frequently used is the 504 real estate loan.Money is available under this program for purchase, construction or renovation.Typically, the applicant need only put in 10%.New construction requires a 10% borrower contribution of the total project cost.In addition, the building must be 51% owner occupied and 60% for new construction.The SBA does not provide money for purely non-occupant investment purposes. Under the current guidelines most businesses are eligible. To see if you can benefit from an SBA loan, contact us.

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