What Are Franchise Business Loans?
Franchise business loans simply refers to small business loans that are specifically designed to offset the cash flow challenges associated with opening, maintaining and growing a franchise. Since these challenges are vast in size and number, you can use the money for a wide variety of purposes. Whether you need a cushion for a series of upcoming bills or a lump sum to cover single, upfront fee, we are here to help.
Terms can be adjusted based on a list of factors such as seasonality, future projections, and how certain expenses will affect others. We are aware that franchises must cover more weekly and monthly expenses than more traditional business models. For this reason, we would likely not assign the same business loan program to a franchise that we would an independent restaurant or retailer. Payments will not prevent you from covering mandatory franchise expenses.
What makes our franchise business loans so uniquely advantageous is our ability to approve and distribute funding in just a few business days, regardless of which type of business funding program is recommended for you. Diminishing stress is a chief priority of United Capital Source. Franchise owners are expected to handle the responsibilities of a sales executive, accountant, recruiter, and so on. Rather than taking on yet another responsibility for months on end, franchise owners can seamlessly get their financial plans in order with our franchise business loans.
What Do I Need Franchise Business Loans For?
Our main specialty with franchises is opening new locations. We can provide the means to cover franchise fees or new equipment upfront, which can be extremely helpful since profit margins are usually very tight for franchises. If weekly deductions from royalties or advertising are keeping profits stagnant, we can lighten the burden of your overall monthly costs. The initial costs of opening a new location can make it difficult to grow existing locations on schedule, but not if you have enough funding to cover the largest expenses immediately.
Franchise business loans can also pay for required upgrades and long-term promotional campaigns, especially if they interfere with separate growth initiatives or are imposed when profitability is already in danger.
One initial cost of opening a new franchise that can eat up a lot of funding is building a team. Some franchises have rigid rules about the vendors and suppliers you can work with but who you hire is up to you. Franchise business loans can cover payroll in your new location’s early stages or other regular expenses so you can take your time interviewing and training new recruits.
Let’s Start Our Partnership Today!
Putting off necessary expenses isn’t always a death sentence but it will certainly decrease profits little by little. Franchises must grow their profits in order to grow the rest of their business. United Capital Source can help you make crucial payments ahead of or on schedule so that weekly deductions and cyclical upgrades have little if any impact on monthly profits. Apply now to see how much you qualify for!