Unsecured Lines of Credit can be used to fund portions of your franchise business purchase. Once you have created a business entity and your FICO score is above 700, you can apply for credit lines under your newly created franchise business. The application process is streamlined and timing to get funded generally takes approximately 3 weeks.
The credit lines are issued as business credit cards in which cash advances or credit purchases are allowed. Since these cards are lines of credit, there are no loan payments. Only pay when you access the credit line.
In terms of funding, this type of financing is the most accessible and is recommended for franchise businesses seeking funding for under $50K.
As "Your Partner," we will work with you to determine if a Unsecured Line of Credit is right for your situation.