Helping Clients Start Successful Franchise Businesses in Atlanta
Franchises can be lucrative investments for business owners, though the upfront cost of many franchises can be a deterrent. If you believe that you want to purchase a franchise, it is important to know that you have different financing options. You should discuss the matter with an experienced franchise loan lawyer in Atlanta who can advise you of your options and help you through the complicated application process. Contact Battleson Law today.
There are different types of franchise financing available to many owners, including traditional business loans directly from financial institutions or business loans backed by the Small Business Administration (SBA). Not every franchise can be SBA-approved, and it can be wise to select a franchise that can lead to SBA support. An experienced business attorney can help you decide which loan program works best for your franchise goals.
You will need to determine how much collateral you will need and how to provide it. Some possibilities for collateral might include:
- Cash savings
- Stocks / Bonds
- Retirement accounts
- Real property
- Business inventory
- Home equity
- Other hard assets
This should be carefully considered because of the risk involved should the franchised business not succeed.
We then assist with the application process, which can include a significant amount of documentation. Some franchises are easier to finance than others, and the application process will reflect this. If you are buying a lesser-known franchise, you might have to provide additional financial information to try to get approved for financing.
Consult with a General Franchise Loan Lawyer in Atlanta
Battleson Law helps aspiring franchisees select the right type of loan program and secure the financing they need to start on the right foot. Call 404.382.8149 or contact us online to discuss your options with an Atlanta general franchise loan attorney.