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    3 Replies Latest reply on Aug 15, 2008 2:49 PM by Milleisen

    Average Credit

    Nellys Newbie
      I have had a catering business for less than a year. It has been very slow. I have average personal credit and some debt. I want to get a loan to purchase a Franchise. The Franchise is $200,000. I can get investors but I want to come up with as much of the money myself as possible. What are the chances of me getting a Business Loan for that amount and what would be the best route?
        • Re: Average Credit
          MerchantClub Newbie

          Hello, this is Nicole from Merchant Club of America.


          We help provide small to medium-sized businesses with cash advances. All it requires is a few minutes to fill out our application and we can find out how much you would qualify for within only a few hours.


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          1 of 1 people found this helpful
          • Re: Average Credit
            LUCKIEST Guide
            Average Credit, Welcome

            Tell us more. Where is your catering business??

            What kind of Franchise?? Have you checked with the Franchise to see if they will
            loan you (or finance) the money??

            Have you developed a Business Plan?? Do you know about SCORE?? SCORE is FREE

            Good luck, LUCKIEST
            1 of 1 people found this helpful
            • Re: Average Credit
              Milleisen Scout

              Hi Nellys,


              Realistically speaking, in order to purchase a franchise (or any business for that matter), you'll need to have some cash of your own to put into the project. A lender will want to know that if they are putting their capital at risk, so you are you. Your best bet would be to go into the venture with a partner who has the capital, but not the time, to run it. In situations like yours, your interest in the business would be called "sweat equity" since you'd be working for your ownership rather than paying for it. I hope that helps!