Applying for one of the small business loan programs overseen by the United States Small Business Administration (SBA) is a process that shouldn’t be taken lightly.
The franchise loan marketplace is looking increasingly better for entrepreneurs as the economy continues to recover.
If your business is like most U.S. small businesses, you will be, subject to certain exceptions, eligible for an SBA loan. The specific rules regarding SBA Loan Requirements are found in a series of Standard Operating Procedures (SOPs) that the SBA has promulgated to guide SBA Lenders as well as in Title 13 Parts 120 and 121 of the Code of … Read More
Last week Karen Mills, SBA Official, announced that the SBA hit an all-time record in small business lending this fiscal year, with over $30 billion in lending, supported to over 60,000 small businesses. This signals a record year in the nearly 60-year history of the SBA itself. While this news should signal the rise of small businesses looking for capital, … Read More
Dan Moran, owner and operator of two Wing Stop locations in Northern Illinois knew his franchise was ready for growth. However, he needed financing. “When I looked for financing for our first Wing Stop the process was terribly frustrating. Going from bank to bank, having to repeat our story was inefficient,” said Dan.
Myron Allen of Rochester, MN was excited to open his new Topper’s Pizza, a fast growing pizza franchise, but needed to secure financing. Fortunately, Myron selected a franchise system that supports franchisees throughout the entire process – including financing.
Direct Wholesale Inc, a Beloit, KS company prides itself on meeting the needs of leading contractors in Kansas and Nebraska. When Kurt Furwell, 15 year owner, began searching for financing he didn’t imagine BoeFly, an online exchange, would connect him to a Kansas community bank.
Infinite Personnel, a New York City-based full service, temporary healthcare staffing company providing staff to local hospitals, nursing homes and other medical providers had been seeking a loan for close to a year without any success. Then, President of Infinite Personnel, Cary Weiss, and his professional loan broker, Chris Miller of Evergreen Equity posted the loan to BoeFly and success … Read More
After the local Subway franchise owner and his loan consultant, Joe Wojtowicz were denied a loan by more than five local banks, Mr. Lukasik chose not to wait any longer. He said he “robbed” his 401(k) of $100,000 to fund his third Subway shop, at Cleveland Hopkins International Airport, while Mr. Wojtowicz continued the hunt for money.