Hot Franchise Topic: Getting a Loan

It seems like the entire franchise industry is focused on funding, and with good reason; franchise loans are still a bit challenging to secure.

But, if you’re a potential franchise owner, I’d wager that you’re a lot less concerned about what the talk is in the Franchisesphere concerning loan availability, and more concerned with actually getting a small business loan for your franchise business start-up.

 

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If that’s the case, there are a few thing that you can do to help ensure that you can open for business….

Ask your relatives for a loan

Borrow money from yourself

Learn all about the SBA loan process

Write an amazing business plan

 

In these rather uncertain times, becoming a franchise owner will require you to be;

A. Patient- the wheels are moving slower

B. Focused- ignore people that don’t have expertise in franchising and financing

 

You can do this.

 

A New Door Added To The Obama Cabinet

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No…no! Not that type of cabinet.

 

This type of cabinet!

 
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From CNBC;

Today, President Obama made the announcement that the SBA would become a cabinet-level agency in front of small-business owners at the White House. The head of the SBA was a cabinet-level position under the Clinton Administration. The announcement was part of a larger proposal that would combine the SBA with five other government agencies that focus on business and trade, according to the AP.

 

This could be just what those of us in the small business community need. Someone to take us seriously.

 

What do you think?

 

(Disclosure; I’m the exclusive guest blogger on franchising for SBA.gov.)