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    14 Replies Latest reply on Mar 16, 2008 9:03 PM by TJMorehead

    In Need of Business Loan for Franchise !

    eddie518 Newbie
      Im frustrated at this point and need advice. I rececently paid the franchise fee of $25,000.00 to the franchisor to develop one store in Atlanta GA. The franchise is well known and expericing local and national growth and ranks as the leader in its class. I have a 771 FICO score 18 year credit history, no late pays, no collections , no judgements. I have financed 3 homes, have one Amex card with $17,000 limit, one Home Depot with $13,500 Limit, multiple cars financed and paid off. I have been employed with the same company for 9 years and currently in management. My total project cost comes in at $215,000.00. I have $65,000.00 (30%) cash injection available. Every where I turn I get denied because they say I cant colateralize the loan. I am lease negotiations, paid the franchise fee so I cant turn back its not an option. WHERE CAN I GET THE MONEY?????? All the banks say my credit is excellent! I am confused! HELP!!!!!!!!!!!!!!