“Growth in franchising depends on credit access”. Mike Rozman, BoeFly.com
Access to sufficient funds is the lifeblood of many businesses. Investing in future growth and marinating a positive cash flow are vital. For many franchise businesses it may take at least a couple of years before they reach profitability. This means lending forms an important part of any successful franchise strategy.
Top SBA Franchise Lenders
There are many banks and financial institutions that help franchises through lending and credit agreements. Here are the top Franchise lenders, listed from the biggest lenders in terms of dollars:
- Hanmi Bank
- US Bank
- Wells Fargo
- GA Resource Capital
- First Chatham
- CDC Small Bus Dev
- First Western SBLC
- Florida 1st Capital
- JPMORGAN Chase
- Huntington National Bank
The top Sectors Receiving Franchise Loans
A big factor in securing credit access is the market sector a franchise is operating in. Here are the top franchise sectors who have received loans, listed from the highest count:
- Hotel & motel
- Fast Food
- Auto Repairs
- Gas Station
- Hair Salon
- Child Care
Connecting borrowers and lenders with Boefly.com
We have established the importance of credit access to franchise businesses, but the real issue remains. What is the most efficient method of finding a lender for a franchise owner?
Boefly is an online marketplace designed to quickly connect small business owners with the right lenders. Through the use of dynamic technology, Boefly has been successfully used by many franchise businesses to find the funding they need and establish themselves in the market.
Some notable stats about Boefly.com include:
– Since 2011, 139 franchise brands have joined BoeFly.
– There are over 3,600 lenders who use Boefly.com to meet business borrowers.
– On average 10.6 lenders requested access to each borrower’s finance request.
– On average 12.6 supporting documents are posted by the business owner to their BoeFly finance Request.