Once you have taken the initial steps towards franchise ownership, you may be interested in financing said franchise. Häagen-Dazs provides tremendous business opportunities and assistance starting up your franchise. The Small Business Association gives you an alternative to taking out a traditional bank loan. An SBA 7(a) loan is ideal for new franchisees and is partially guaranteed by the government. These loans typically fall between $250,000 and $500,000. Be mindful that SBA interest rates can fluctuate over time. As a borrower, you are expected to repay the loan in full.
Before you apply for an SBA loan at your bank or qualified lender, there are a few things to bear in mind. Along with a general application, you will be expected to provide certain documents – including a personal business plan – in order to be approved. Financing a franchise is a large commitment, so be sure to plan ahead. View the SBA’s 7(a) Loan Application Checklist to ensure you have the necessary credentials to be considered for a loan: https://www.sba.gov/content/sba-loan-application-checklist
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