Lending Model Accelerates Small Business Loans to Franchise Sector
On Thursday, July 19, the International Franchise Association and the Consumer Bankers Association will unveil the Franchise Small Business Lending Accelerator, a new tool designed to better match qualified borrowers in the franchise sector with banks that are eager to lend.
The Small Business Lending Accelerator will help close the franchise "lending gap," which according to estimates reached as much as $2 billion and cost the economy up to 10,000 new franchise establishments and 94,000 jobs annually during the recession.
The Franchise Small Business Lending Accelerator is an online tool developed in collaboration between members of the IFA and CBA as part of a private-sector campaign to educate both the financial services industry about franchise lending and franchise borrowers about the challenges facing banks in a new regulatory environment.
The Lending Accelerator has been incorporated into the Franchise Registry website and will provide both SBA and conventional lenders with powerful new capabilities, including:
- Detailed underwriting information on more than 3,000 franchise brands
- Lender business development tools to find suitable franchise brands and franchisees
- Streamlined SBA eligibility determinations on more than 1,600 franchise brands
- Steve Caldeira, President & CEO, International Franchise Association
- Richard Hunt, President & CEO, Consumer Bankers Association
- Joe DiNicola, Line of Business Executive, Preferred and Small Business banking, Bank of America
- Darrell Johnson, President & CEO, FRANdata
- Mark Luppi, CBA Small Business Banking Committee, Executive Vice President and Head of Business Banking, HSBC N.A.
Where: Webinar Teleconference. Please RSVP to firstname.lastname@example.org to receive dial-in and webinar instructions.
When: Thursday, July 19, at 9:30 a.m. EDT.