Today’s Franchise Financing Tip: Get A Franchise Through The SBA – A franchisor may help you obtain a loan from a bank, but you may still be eligible for an SBA (Small Business Administration) guaranty on that loan. Contact your bank and local SBA office. If it isn’t already done, register the franchise with the SBA’s registry of franchises. This can help speed up the process for franchise financing.
Today’s Featured SBA Pre-Qualified For Franchise Financing:
1. Tampa, Hillsborough County, Florida based gourmet restaurant opportunity for sale – This award-winning restaurant with an international cuisine is open from lunch to late night with entertainment to finish the evening. The restaurant has 25 tables for gourmet dining inside as well as 6 tables on the outside patio. It also has a full bar that seats 16. The restaurant has been recognized by both local and regional publications. It also provides catering service, which accounts for 10% of sales. This business is pre qualified for SBA financing. Deal Structure: Price: $500,000, Adjusted Net: $169,541.
2. Flint, Genesee County, Michigan based coin-op laundry business for sale – This award-winning, coin-operated laundromat is only 2 years old and reluctantly, the owner must sell in preparation of his move to Arizona – this to the huge benefit of the prospective buyer. In 2006, the industry trade magazine gave this location recognition as runner-up in a nationwide survey as the only laundramat worthy of that praise in the entire state of Michigan.
All brand new equipment, the machines originally cost nearly $500,000, plus the build out was another $195,000. Seller will sacrifice sale price for a quick purchase in order to facilitate a move to Flagstaff, AZ.
No need to mention, one needs to act fast to snare this terrific opportunity. Deal Structure: Price: $680,000, Adjusted Net: $132,000.
* Note: These businesses have been business pre-qualified only - buyers of these businesses will also have to be pre-qualified - before SBA loan business purchase financing may be obtained. Approximately 32 different factors (buyer/seller info) are evaluated in the SBA loan process for business purchase loan financing.
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About the Author
Peter Siegel, MBA, Founder and President of BizBuyFinancing, has been assisting business buyers, owner/sellers and intermediaries to obtain business purchase financing since 1990. For more information about business purchase financing, please phone Peter Siegel, MBA at 800-540-1811.