Franchise Business Financing

If you have a personal experience, I would love to hear your advice.

Cash! Jump to know why daveramsey.com

Write a complete business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for instructions on how to write a business plan and plans business.

Then go to http://www.score.org/index.html and in the upper left corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. call them and arrange for a free meeting with a SCORE counselor to review your business plan.

SCORE is a nonprofit organization dedicated to education and training contractor, the growth and success of small businesses nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).

SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

It is not easy to do. Lenders do not want to take the risk because it is very easy for companies to declare bankruptcy, especially when there is a new company. You own the company, and if the company does not work, you can easily have the moral bankruptcy file, so you leave with your credit card safely.

Lenders know this and want some assets to protect.

Banks are in business to lend money for profit, but not to take risks. They do not want to lose money, any more than you.

To answer your question, there really is not much available in the mode of financing. If you have a home, you can take a second mortgage on it. Again, this goes back to provide protection for the lender.

Lenders do not want to take chances!

Check with the Small Business Administration http://www.sba.gov/financing of government guaranteed loans. Read the SBA funding for information on the criteria necessary for the loan.

I wish you good luck.