Canada free credit report Rhode Island

"The first thing we want to know is, 'How much cash do you have? Any outside income coming in?' " says Rick canada free credit report Rhode Island Anderson, general manager of Franchise Finance of Little Rock, Ark., a company that originates loans and leases for the franchise industry. Anderson says if borrowers have substantial cash, "we'd recommend they put more money into the deal -- maybe 40% to 50%, and canada free credit report Rhode Island we'd finance it conventionally." If they aren't flush, he says, they still may have to contribute at least 20% along with collateral -- perhaps just enough from a retirement account to cover the down payment to qualify for an SBA loan. 3 credit report Brian Colburn, managing director of franchise finance at Butler canada free credit report Rhode Island Capital Corp., a commercial lender in Hunt Valley, Md., says that the "only bank loans I see being made to new franchisees are if a person has established canada free credit report Rhode Island other relationships with a banker, or has previous experience, or canada free credit report Rhode Island is a local figure in the marketplace. free credit report application The average Joe, 99% of the time the bank will turn him over to an SBA" office. Indeed, with banks becoming more tight-fisted, the SBA is becoming the place more would-be franchisees are turning to. "It's what the SBA was created for, to provide access to capital for small businesses who can't get it through conventional means," says Christine Reilly, head of small-business lending at CIT Group Inc., a New York-based finance canada free credit report Rhode Island company. Reilly, CIT has recently "made some changes" to its underwriting criteria for franchising in order to reduce its risk exposure. credit reporting free