Business credit report Raleigh-Durham

Most of that business credit report Raleigh-Durham money is earmarked for franchise entry fees, improvements or working capital.

Even so, the program is feeling a bit of the crunch.

Hammersley says about 300 of some business credit report Raleigh-Durham 4,000 bank participants around the country have reduced their SBA lending activity. He business credit report Raleigh-Durham also suspects that many bankers still in it are asking for more collateral. Borrowers must be creditworthy, typically contribute some equity, and are expected to repay the SBA loan out of the franchise's cash flow. "You need to have your own blood, sweat and tears in the business," Mr. While the actual rate is negotiated between the bank and the borrower, it's subject to SBA maximums, which are tied to the prime rate.

While a low rate may be attractive initially, if borrowers can't generate enough business to cover their payments, "business credit report Raleigh-Durham they could be in a bit of a bind," says Mr. how can i get a free credit report "I get a lot of calls from individuals with SBA loans who want to refinance them," he says.

"They might have gotten in at 8%, and now the rate has business credit report Raleigh-Durham gone up to the high 9s or 10s." For at least one big SBA lending participant, Wells Fargo Bank, a unit of Wells Fargo & Co., it's still business as usual.

Burke, senior vice president of the bank's SBA lending unit. Nor, he adds, has the bank changed its credit criteria. Last year, Wells Fargo closed 209 SBA loans to franchisees and "year over year we're up," he says. Wells Fargo concentrates business credit report Raleigh-Durham on lending to service- and business credit report Raleigh-Durham restaurant-industry franchisees -- both first-timers and established multiple-unit operators. check credit report for free

Interest rates are market-driven and business credit report Raleigh-Durham terms depend on the specific deal, Mr. Another government lending program involves the Department of Veterans Affairs. The program, business credit report Raleigh-Durham called Patriot Express because of its relatively fast approval time, makes loans up to $500,000 to active-duty military preparing to transition to civilian life, as well as to spouses and survivors of veterans. In a spinoff of that, at least one business credit report Raleigh-Durham franchiser is offering financial assistance business credit report Raleigh-Durham to disabled veterans who want to start a franchise. At Little Caesars Enterprises Inc., the initial $20,000 franchise fee for a store is waived for disabled veterans, and these franchisees get a 10% discount on equipment, plus about $18,000 to business credit report Raleigh-Durham help open the business. "Their first food order -- business credit report Raleigh-Durham dough, sauce and cheese -- we give them for free," says David Scrivano, president of the pizza franchiser. free fraud protection A few other franchisers offer internal financing to the general population. One is Dwyer Group, which franchises a half-dozen home-and-auto service concepts including Mr.

The Waco, Texas, company will finance up to 70% of business credit report Raleigh-Durham the typical initial $42,000 fee. The interest rate business credit report Raleigh-Durham -- currently at 9% to 12% -- is based on business credit report Raleigh-Durham the franchisee's credit score.