When you’re looking to finance a franchise business you may want to reach out to your franchisor to see if they have any available options to help with your financing needs. Regardless, you may still want to shop around because you may be able to find cheaper options on your own. 

Alternative lenders generally have financing options for franchises that may assist with your franchisor mandated updates, at a lower cost. Once you have determined the type of financing you’re looking for and the lender you would like to work with, you will have to complete an application, and provide necessary paperwork such as bank statements, personal credit reports, drivers licences and voided check. 

KREDIK Financial has access to franchise financing options. To learn more complete our 15-second online application and speak with a business financing advisor today.

When it comes to sources for financing a franchise there are many options available. Options include:

1. Franchisor financing
2. Traditional bank loans
3. SBA Loans
4. Alternative lenders
5. Family and friends

It’s best to consider all your options when looking to finance your franchise to see what products fit your business needs best.

In order to qualify for franchise financing you’ll have to have a solid credit score, business financials and a minimum of two years in business. For those looking to financing an additional franchise, business owners may be able to leverage their existing franchise to meet those requirements for their expansion.