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Despite the current tight-money situation, "we expect to have adequate funding to meet demand for fiscal '09," says James Hammersley, director of the agency's loan-programs division. About 10% of all SBA loans go credit reports free Arizona to franchisees, with the size running between $250,000 and $500,000, although the maximum is $2 million. Most of that money credit reports free Arizona is earmarked for franchise entry fees, improvements or working capital. Even so, the program is feeling a bit of the crunch. Hammersley says about 300 of some 4,000 bank participants around the country have credit reports free Arizona reduced their SBA lending activity. He also suspects that many bankers still in it are asking for more collateral. Borrowers must be creditworthy, typically contribute some equity, and are expected credit reports free Arizona to repay the SBA loan out of the franchise's cash flow. check report online free credit report "You need to have your own blood, sweat and tears in the business," Mr. While credit reports free Arizona the actual rate is negotiated between the bank and the borrower, it's subject to SBA maximums, which are tied to the credit reports free Arizona prime rate. While a credit reports free Arizona low rate may be attractive initially, if borrowers can't generate enough business to cover their payments, "they could be in a bit of a bind," credit reports free Arizona says Mr. "I get a lot of calls from individuals with SBA loans who want to refinance them," he says. "They might have gotten in at 8%, and now the rate has gone up to the high 9s or 10s." For at least one big SBA lending participant, Wells credit reports free Arizona Fargo Bank, a unit of Wells Fargo & Co., it's still business as usual. getting your free credit report Burke, senior vice president of the bank's SBA lending unit. Nor, he adds, has the bank changed its credit criteria. Last year, Wells Fargo closed 209 SBA loans to franchisees and "year credit reports free Arizona over year we're up," he says.

Wells Fargo concentrates on lending to service- and restaurant-industry franchisees -- both first-timers and established multiple-unit operators. Interest rates credit reports free Arizona are market-driven and terms depend on the specific deal, Mr.

Another government lending program involves the Department of Veterans Affairs. The program, called Patriot Express because of its relatively fast approval time, makes loans up to $500,000 to active-duty military preparing to transition to civilian life, as well credit reports free Arizona as to spouses and survivors of veterans. In a spinoff of that, at least one franchiser is offering financial assistance to disabled veterans who want to start a franchise. free credit reports instantly At credit reports free Arizona Little Caesars Enterprises Inc., the initial $20,000 franchise fee for a store is waived for disabled veterans, and these franchisees get a 10% discount on equipment, plus about $18,000 to help open the business.