How to Get Financing for a Franchise

How to Get Financing for a Franchise

Securing financing for your paint and sip business may seem challenging, but in reality there are a number of resources available to assist you with your investment. Pinot’s Palette works closely with its Partners and financial institutions to help franchise Partners find a financing solution that works for them.

This summer, Guidant, one of the nation’s leading small business financial groups, unveiled a new SBA loan program that can cut funding time in half for your clients. SBA Express loans are a quick and simple financing solution, offering between $10k – $150k to be used as working capital for start-ups and expansions.

Guidant will provide feedback on Express applications within 48 hours, and loans can close in as little as 45 days, making them a great tool for clients on a deadline. Plus, SBA Express loans require less documentation than traditional SBA loans, and they’re secured through business assets, meaning you don’t have to put your personal collateral on the line.

Here are the other specs for SBA Express:

  • 10-year term
  • Not available for business acquisitions
  • Interest rates are on sliding scale:
    • Loans of $10,000 – $25,000: Prime +4.75 percent
    • Loans of $26,000 – $50,000: Prime +3.75 percent
    • Loans of $51,000 – $150,000: Prime +2.75 percent

To qualify, candidates must meet the following requirements:

  • 690+ credit score
  • Pre-paid franchise fee
  • Equity injection of 10 percent (can include franchise fee)

Learn more about Guidant’s financing solutions on their website:

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