Posted under Franchise
from http://www.thefranchisekingblog.com 1032 days ago

(Guest post)

Can you become rich by opening up a franchise? Possibly! However, if you’re able to open 5 or 10 successful franchise locations, you’re more likely to get rich. The good news is that a business owner that is able to successfully operate one franchise location, is likely to be able to get financing to opening additional franchise locations at very attractive interest rates and terms. One of the major benefits of opening a franchise versus starting an independent business is the ability to access capital, which can fund rapid growth.

 

In General Banks Don’t Like Lending To Small Businesses

Large banks, meaning those with more than $10 billion in deposits, approve less than 1 in 5 small business loan applications. The approval rate for small banks and credit unions is better, at about 1 in 2. Small business lending (as percentage of total business lending ...

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