New Lending Model to Accelerate Small Business Loans to Franchise Sector
The International Franchise Association and the Consumer Bankers Association unveiled the Franchise Small Business Lending Accelerator, a new tool to expedite small business loans to the franchise sector and bridge the “lending gap” between loan demand and availability, which according to estimates reached as much as $2 billion and cost the economy up to 10,000 new franchise establishments and 94,000 jobs annually during the recession.
The Franchise Small Business Lending Accelerator is an online tool developed in collaboration between members of the IFA and CBA as part of a private-sector campaign to educate both the financial services industry about franchise lending and franchise borrowers about the challenges facing banks in a new regulatory environment.
The Lending Accelerator has been incorporated into the Franchise Registry website www.franchiseregistry.com and will provide both SBA and conventional lenders with powerful new capabilities, including:
- Detailed underwriting information on more than 3,000 franchise brands
- Lender business development tools to find suitable franchise brands and franchisees
- Streamlined SBA eligibility determinations on over 1,600 franchise brands
Please visit www.franchiseregistry.com to view the Small Business Lending Accelerator