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Approved Loan Purposes: Franchise Start-ups, Acquisitions, Business Acquisitions
LTV: NO COLLATERAL REQUIREMENTS IN SELECTED STATES
Borrower Injection: As low as 20%
Term: 10 Yeras
Interest Rate: Prime +2.75%. Lower rates for real estate
Personal guaranty: Required of all owners
Pre-Payment Fee: None
Ballon Payment: None
Origination or Points: 1.0%
Requirements:
Debt Coverage Ratio: 1.30 for two years
Elegible Businesses: Must be Privately Hed, For-Profit, Owner Operator
Borrowe'rs Experience: None Required for Approved Franchises, 3 Yeras of Related Experience for Non- Franchise
Working Capital: Funds Provided to Cover 3 - 6 Months of Expenses