Global restaurant brand Denny's is offering hard-hit franchisees some financial assistance through a new funding program, which may benefit those having trouble finding capital in the franchise loan marketplace.
The Street reports that Denny's is offering franchisees up to $100 million in financing assistance. The company has been looking to extend its presence in the United States over the best year and is hoping existing franchisees will make use of the new program to buy subsequent properties. Approximately 90 percent of the stores in Denny's 1,670-location chain are owned by franchisees.
"Denny's will also reduce fees for franchisees that open at least four stores over a reasonable period," the news source explains. "The program is available for a limited time. Denny's is hosting a series of webinars for interested parties."
When franchises are having difficulty financing a new property, whether it's their first or their fifth, they may want to consider other funding options. They don't always need to painstakingly go from bank to bank to get a loan.