UFG and Franchise Finance Increase Available Franchisee Lending Program to $10 Million
November 18, 2011 // Franchising.com // West Palm Beach, FL – The United Franchise Group (UFG), the global leader for entrepreneurs, today announced that after the recent success of its franchisee lending program with Franchise Finance, it has now been increased from $5 Million to $10 million. The program aims to facilitate growth by lending financial support to new and existing UFG franchisees, while offering exclusive access to development capital. Franchise Finance has established national finance programs with only the top 10% of all franchise concepts.
“We are very excited about our continued partnership with Franchise Finance and the increase in available lending capital for our prospective franchisees,” said Ray Titus, CEO of United Franchise Group. “In only three months of working with Franchise Finance, we have received over 60 applications and nearly 40 of them have already been approved, which has allowed our candidates, who would have otherwise had a difficult time securing capital, to launch their own business.”
According to a recent study by the International Franchise Association, franchise lending has seen a 40 percent decline, resulting in the loss of nearly 50,000 jobs and more than $5 billion in economic activity. The Franchise Finance lending program was specifically designed to combat this decline and meet the needs of franchisees by specializing in conventional, SBA, and construction loans, as well as multi lines of credit.
“Before working with The United Franchise Group and Franchise Finance, I ran into several roadblocks when it came to getting a loan,” said Fred Jacobi, EmbroideMe franchise owner in Boise, Idaho and loan applicant. “As I went through the process they took my hand and guided me the entire way. I would have never been able to receive the type of loan I did and be able to start my own business if it weren’t for this program.”
UFG is made up of five industry-leading franchise brands including SIGNARAMA, the world’s largest full-service sign business; EmbroidMe, the world’s largest embroidery franchise; Billboard Connection, a home-based advertising agency; Plan Ahead Events, a home-based event planning business; and TransWorld Business Advisors, a business brokerage and franchise development services firm. In 2010, UFG developed nearly 200 new franchises and projects its growth trend to continue in 2011 with a goal of adding up to 300 new franchise locations around the world.
About the United Franchise Group (UFG):
United Franchise Group (http://www.unitedfranchisegroup.com) is a $500-million franchising expert with 30 years of experience and 1,400 franchise locations in over 50 countries. Brands include SIGNARAMA, EmbroidMe, Billboard Connection, Plan Ahead Events, and Transworld Business Advisors. Information on franchising opportunities is available at 800-286-8671 (U.S.) or 001-561-640-5570 (international).
About Franchise Finance:
Franchise Finance was founded in 1988 and is the oldest Independent Franchise Finance Company in the United States. Franchise Finance is an affiliated company of Arkansas Home Banc Shares, one of the largest Arkansas Bank Holding Corporations (approx $3 Billion in assets) and is publicly traded. For more information visit www.franchise-finance.com or contact 501-228-4047.