The purpose of the SBA Franchise Registry is to simplify the process involved in helping franchisees to get the lending that they need. The purpose of this registry is to allow lenders and franchises to come together to deliver the financing necessary for franchisees. When a franchise is listed with this SBA registry, then lenders simply have to check off a little box in order to simplify the lending process significantly.
Benefits of the SBA Registry for Franchises
- The registry facilitates the financing process for franchisees.
- The registry eliminates a lot of the stress involved in the typical process including legal wrangling, weeks worth of review time and extra financial costs and fees.
- The registry significantly lowers the financing risks that lenders experience because the SBA is guaranteeing the loan, and so conventional lending institutions can rest assured that they are dealing with borrowers that have the ability to repay the loans.
Getting On The Registry
Contact the Franchise Registry to begin setting up an account. The Franchise Registry will walk you through the process step by step to make sure you get all of your information in as required. Lenders may need to see a variety of financial information and you will want to make sure that you are making that information available for the best odds of getting financing. The SBA will review all of your agreements, exhibits and financial information and will make a determination as to whether or not you can be placed on the registry. Placement on the registry is required by many lenders simply because it means your franchise is worthy of being lent to.
Why the Registry Is Important
The franchise registry offered by the SBA makes it easy for lenders and franchisees to come to a lending agreement. If you are running a franchise operation and you want your franchisees to get the lending that they need quickly and easily, then being listed in this registry is essential.
A franchise consultant can play an essential role in helping you to understand the benefits of this registry. Contact a franchise consultant to learn more about how you can improve the future of your franchise and benefit your franchisees.