It might seem detrimental to start a new business in a period of crisis, but potential new entrepreneurs, who are ready to take the leap, are being incentivized.  New business owners are receiving COVID debt relief from the SBA.  If you are among the up-and-coming new business owners, you should know that loans made and completely disbursed by the Small Business Administration between March 27 and September 27, 2020, will be eligible for SBA Debt Relief.

Why finance a franchise with an SBA loan during COVID-19?

If you are going to finance your franchise wholly or partially with a loan from the Small Business Administration, you will be applying for either one of their SBA 7a loans or an SBA Microloan to get your business up and running.  The SBA is providing relief for new or expanding business owners during the COVID-19 crisis.  This applies to any 7(a) or Microloan applied for and fully funded from March 27 through September 27, 2020.  It makes sense to buy a franchise with an SBA loan now, so that you will be protected as your business gets going!

Is now a good time to start a business? Buy a franchise now with confidence!

If you choose to finance your franchise with an SBA 7(a) or Microloan, you will receive an incentive of having the first six months of payments, fees, and interest paid for you by the Small Business Administration.

What are SBA 7(a) loans?

In simple terms, the range of SBA 7(a) loans are the primary offerings from the SBA, which provide financial assistance to most small businesses.  For funding a low-cost franchise like Superior Fence & Rail, the SBA 7(a) Small Loan would be an ample funding source, with up to $350K borrowing capacity.

What is an SBA Microloan?

If you will be financing only part of the cost of your franchise with an SBA loan, you might be applying for an SBA Microloan, with a funding capacity of $50K.  The average SBA Microloan is $13K, so even if you need only a small amount of capital to subsidize your franchise opportunity, the Microloan is a great option for just that!

Act now to secure your relief franchise financing through the SBA.

If you have already decided to buy a business, you must act quickly to qualify for SBA Debt Relief for COVID-19.  We must understand that many loan processes have become slower during the crisis, so if your decision is made, apply for your franchise financing today to ensure that your loan is funded before September 27, 2020.  There’s no time like the present to realize your dreams of business ownership.

Are you ready to own a fencing franchise?  Get in touch with Superior Fence & Rail to discuss becoming a fence franchise owner!  For franchising information, visit https://fencefranchise.superiorfenceandrail.com/ or contact [email protected].