Anybody Know How To Finance A Purchase of a "Franchise"?

[DiamondDeuce]

BGOL,

I am looking over the requirements to purchase an Auto Insurance Agency. Everything looks good...I just need the money!!!!!!!
I need to show $80K of which $30K needs to be CASH.

Anybody have any ideas of WHAT INSTITUTIONS would loan me that type of money?

I have no personal assets....but I do have a decent credit score.

I know that this is tough...but any suggestions fam?

 

[dwnsouth]

I looked into the franchise thing not to long ago...and i can tell you that when they say cash...they mean cash.

you are going to be hard pressed to get a loan without someone asking you what its for. Once that hear franchise... it will be wrap. Too much risk and you dont have anything on the line other than your credit. They are willing to risk some of their money on a franchise but not the whole amount.

 

[Profit]

bump

 

[Imhotep]

Do a Google search for commercial lending and private money investors, and still clear of hard money.

Finally use http://www.sba.gov/
&
http://creditboards.com/forums/index.php?showtopic=7571

Good luck