THE SITUATION: REPEAT SBA CLIENT SEEKS FOURTH FRANCHISE
Two Wisconsin entrepreneurs own three existing franchise retail businesses across the Midwest featuring a loyal customer base. Despite geographical challenges, the opportunity to purchase a fourth franchise on the West Coast is too good to pass up. The team is practiced in hiring, training, and empowering trustworthy managers as part of operating a successful franchise business.
The team successfully runs three Midwestern locations, each acquired with an SBA loan from First Business Bank. They will run the new location on the West Coast using the franchise resources, including remote inventory management, security system cameras, and other sales solutions.
THE SOLUTION: FIRST BUSINESS BANK SBA 7(A) LOAN
Why fix what isn’t broken? This team worked with First Business Bank, Preferred SBA Lender, on three other loans, and it’s important to them to work with proven SBA experts to navigate the process.
An SBA 7(a) loan through First Business Bank allows this team to continue to operate its three franchise locations and acquire a fourth.
With a previous track record successfully closing three other SBA loans for this team, they’ve built a comfort level with First Business Bank to help grow their business across the United States.
"The clients’ business model allows them to effectively operate profitable stores without being onsite on a daily basis, and the franchise’s sophisticated remote inventory management systems provide additional support. They’d successfully completed three other SBA transactions with our bank, so THEY HAD CONFIDENCE THAT FIRST BUSINESS BANK COULD DELIVER AGAIN.”
— Ryan Black, Business Development Officer, SBA Lending & Servicing, First Business Bank
Thinking of investing in a franchise?
Reach out to First Business to learn more about SBA loans that can help you achieve your franchise goals.