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7 Replies Last post: May 16, 2008 12:21 PM by TJMorehead

New Franchise looking for SBA funding

May 14, 2008 1:00 PM

washclark 2 posts since
May 14, 2008

Hopfully someone can point me in the right direction. I'm a disabled vet who has been recently been approved for a well known franchise with global name recognition. I'm looking for a SBA loan in the Patriot Express variety. The banks I have approached so far have asked for 30% down and collateral. The SBA website gives very different information. It states the SBA will guarantee 75% of the loan and no collateral is needed unless I exceed 350,000.00. I don't intend to take out that much. Since this is a start up I understand there is a degree of risk. Does anyone know of a lender who works in Patriot express loans for start ups?

thanks for your help

Paul

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LUCKIEST 8,132 posts since
Aug 6, 2007

1. Re: New Franchise looking for SBA funding May 14, 2008 1:39 PM

New Franchise looking for SBA funding, Welcome

As a new start up, do you have a Lawyer?? Accountant??

This is a good question for the professionals.

Do you know about SCORE?? SCORE is FREE.

Good luck, LUCKIEST

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CorpCons08 1,127 posts since
Nov 14, 2007

2. Re: New Franchise looking for SBA funding May 14, 2008 4:05 PM

Paul,

I work with franchise financing through the SBA.
You can contact me at daniel.skolnick@skcgroup.net for further details.

CC08

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jasoncole 22 posts since
May 5, 2008

3. Re: New Franchise looking for SBA funding May 14, 2008 4:21 PM

Hello,

I work with several SBA lenders. Before I commit to working on your request would you be kind enough to provide me with a Executive Summary and Business Plan? Of course you would like me to sign a NDNC agreement first I will be happy to.

jcole@tradewestcapitalpartners.com

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mlebovits 42 posts since
Oct 10, 2007

4. Re: New Franchise looking for SBA funding May 15, 2008 1:45 AM

Depending upon the geography of your planned business, I may know of Patriot Express lenders who might be a good fit.

By the way, is the franchise on the approved list by the SBA? You can check at www.franchiseregistry.com .

Marshall Lebovits
www.Funding911.com

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TJMorehead 97 posts since
Mar 16, 2008

5. Re: New Franchise looking for SBA funding May 16, 2008 2:37 AM

Hi WashClark,

Yes, my lender works with Patriotic Express Loans. Because you have to have a Technical Assistance Provider to apply. I'd help facilitate the paperwork for you.

Warm regards,
TJMorehead
www.moreheadsconnections.com

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washclark 2 posts since
May 14, 2008

6. Re: New Franchise looking for SBA funding May 16, 2008 12:12 PM

in response to: TJMorehead

Hi TJMorehead,

I would really appreciate any help you may be able to provide. I'm wrapping up my business plan today and I should be sending in my franchise agreement and payment on the 21st of this month.

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TJMorehead 97 posts since
Mar 16, 2008

7. Re: New Franchise looking for SBA funding May 16, 2008 12:21 PM

in response to: washclark

Hello WashClark

Just let me know when you are ready. Call me at 281.914.8166.

TJM

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New Franchise looking for SBA funding

May 14, 2008 1:00 PM

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