When it comes to applying for a small business loan, there are endless options, but an unsecured loan typically is the best option for franchisees. An unsecured loan is any loan from a lender that is based only on the applicant’s creditworthiness. There is no collateral to back the loan. By Chris Fuller
Did you know you can use your existing retirement savings to fund a franchise without tax or penalty from the IRS? This process – known as a 401(k) Rollover or ROBS (Rollover as a Business Startup) – could be an excellent option if you find yourself agreeing with any of these statements. By Jeff Waldera
Franchise Business Radio: Dan Pace has over 30 years in the lending industry. He has a true passion for entrepreneurship and helping others achieve their dreams of business ownership. In this interview, Dan provides insight and understanding of SBA loans.
Going into business with your spouse or partner can be a lucrative and rewarding experience that strengthens your relationship. If you’re in a long-term relationship, you already know that teamwork is of the utmost importance. The need for teamwork is especially important when determining the funding strategy for your new franchise or small business. By Sherri Seiber
When considering franchise ownership, few activities will have as much of a long-term impact on your business as obtaining adequate financing. Cash is king in a new business, and it is advisable to over-capitalize to account for unforeseen issues, rather than find yourself struggling after being open a short time. By Sherri Seiber
In a recent episode, Thomas Rockwood, a nationwide commercial SBA and USDA lender with Atlantic Capital Bank, provided education and insight on lending to businesses seeking capital to start, grow, and expand. By Pamela Currie
We’ve all heard the old adage. “Whatever you do, don’t touch your retirement funds.” But what does that mean? Can’t all of the funds on your personal balance sheet be considered retirement funds?