Almost seven months ago, Direct Capital was concerned about a FRANdata report which projected a 40% reduction in available credit to franchisees over the coming year.

Robyn Gault, Direct Capital's Director of Strategic Accounts, said it is a critical time to get behind the franchise space. 

 "The retreat of many lenders from the market over the last several months has left franchisees with very few options," said Gault. "Growing concern over access to financing to support growth and upgrade initiatives has driven several leading brands to take an active role in securing lending for their franchisees to protect the growth and health of their systems. We have the financial strength to support franchisors and the companies that sell equipment to them." 

Gault said that Direct Capital's offering has peaked the interest of many businesses involved in the franchise industry, including franchisors, vendors, and associations. The company recently announced an exclusive partnership with the National Franchisee Association, an association of BURGER KING? franchisees, to launch a finance program created to support various equipment upgrades.

Recently, Direct Capital, a leading nationwide lender to the franchise industry for nearly 20 years, announced today that it will increase its funding commitment to the franchise industry and will continue to build new programs that alleviate the challenges faced by franchisees

Paul Ringuette, Vice President of Sales for Direct Capital, found an overwhelming need for credit and very few lenders willing to meet that demand.

 "We knew there was a large and growing gap in franchise capital needs but witnessing it first hand at the IFA convention was eye opening," said Ringuette. "This industry needs major support and we are committed to the effort."
 
Reblog this post [with Zemanta]

Authors

Archives

Search for Articles

Follow Us