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    3 Replies Latest reply on May 2, 2009 11:46 AM by phanio

    Franchise Financial Backing, no investment from backer

    nouveaubiz Newbie
      I am in the process of finalizing the agreement with a worldwide franchise for a tanning and spa franchise with a prime loaction secured. I am looking for a group or individual to be a silent partner and be co-applicant on a 350k loan which would be 50% conventional, 40% SBA 7a, and 10% cash down (funded by me). I am a C Corp and am only looking for the financial backing (no investment) to secure the loan and in return I could provide a percentage in the corporation profits until loan is paid. My personal situation with lack of sufficent collateral and reverse equity in my home is making the bank very unceratin I can secure on my own. I appreciate any insight and recommendations.