how to get a loan to get a franchise ?

neena · #1 (**permalink**) 03-14-2007, 01:08 PM

i am a salaried person want to get a franchise , how to get a loan ? please suggest

pawan · #2 (**permalink**) 03-14-2007, 01:46 PM

You can motorgage your property, if any.Before going for a franchise please do check the credibility of that franchise with other franchisors and they can give you an idea of the management and financial dealings and net profits.

jaggedy2k · #3 (**permalink**) 03-14-2007, 03:26 PM

Depends on where you live. Check your local SBA.

flower · #4 (**permalink**) 03-14-2007, 03:52 PM

when you go to ask for loan, bank always ask something for guarantee. Just in case you are default, then they will take it. This is from the bank;s point of view.Becareful with franchise, as not all working as what you see.First, ask you self do you want to work and live with the franchise job? Is it the one that you are like? Think, many times. Say you want to franchise a shop, ask your self what is it a day for franchisee. Becareful, with franchise there is on going payment.All the best. And have something for guarantee, any asset will do for the bank.