Revisions to SBA Addendum to Franchise Agreement (SBA Form 2462)

First Financial SBA Loan

SBA Policy Notice EFFECTIVE: 2/14/2017 Changes to the Franchise Review Process for 7(a) and 504 Loans   Download the full announcement PDF here: franchise policy noticefinalfeb2017 PDF SBA has received numerous comments relating to the language in the SBA Addendum, particularly the use of the terms “franchise agreement,” “franchisor,” and “franchisee,” when the document is also required for license, dealer, distributor, jobber, or similar …

SBA REVISED FRANCHISE PROCEDURES

First Financial SBA Loan 0 Comments

REVISED FRANCHISE PROCEDURES On July 27, 2016, SBA revised its regulations governing affiliation with respect to the Business Loan, Disaster Loan and Surety Bond Guaranty Programs (81 FR 41423). Under the revised regulations, the principles of affiliation with respect to these programs can be found at 13 CFR 121.301(f). The regulation identifying affiliation based on franchise and license agreements is found in §121.301(f)(5) and …

considerations when financing your business with a 401K rollover

Considerations when rolling over your 401K into a business

First Financial 401K Financing, Franchise Purchase, SBA Loan, Starting a Business, Working Capital

Risks Involved Employing your 401(k) to finance your start-up venture comes with some pretty high risks. We’ve outlined some of the most obvious risks below to help you make a well-informed decision.  Before we know continue, know this… Many business and franchises have been started using 401K rollover financing.  Despite the commonness and acceptance of this financing options, their are …

The SBA Loan can feel like a puzzle without a lending advisor like First Financial

Getting an SBA Loan – Who, What, Where and Why

First Financial Acquisitions, SBA Loan, Starting a Business, Working Capital 0 Comments

Getting SBA Loans There can be a lot of uncertainty when it comes to securing a dependable financial flow to your business. So much so that a commercial loan from a bank that’s also federally insured seems too good to believe. But backing these loans is exactly what the U.S. Small Business Administration’s Guaranteed Loans Program was built for. So …

SBA 7A Loan approval process

What is the SBA 7A Loan Program?

First Financial Franchise Purchase, SBA Loan, Starting a Business, Working Capital 0 Comments

The SBA 7a is a popular loan program that was suspended after reaching the $18.7 billion limit for the year, has finally been renewed. The House of Representatives has approved the bill which will lift the SBA’s lending cap for the largest loan guarantee program to reach $23.5 billion. What is better is that the Senate has also passed the …

Advantages and Disadvantages of Working Capital Loans

First Financial Franchise Purchase, SBA Loan, Starting a Business, Working Capital 0 Comments

Securing a loan for working capital is an excellent way to begin generating both capital and growth from your business. To get your business off the ground, capital is essential for covering the financial needs of your daily operations such as payroll or marketing costs. Funds that are available to cover your business’s short term and immediate needs are known …

Women-Led Businesses Benefitting From Loans

First Financial SBA Loan, Starting a Business, Working Capital 0 Comments

In figures released by the National Women’s Business Council (NWBC) in 2007, around 8 million business were owned by women in the US. With around 12% of these employing full-time workers, the average annual revenue was just over $1 million. However, times are dramatically changing and it is thought that total revenue for women-led business has now reached $1.2 trillion. …

SBA startup funding

Getting an SBA Loan for your Start Up

First Financial Franchise Purchase, SBA Loan, Starting a Business, Working Capital 0 Comments

SBA Loans for Startup Businesses It is possible to find money for your new business with this review of the top three SBA loan programs. It doesn’t matter what you see on websites or infomercials, there aren’t any SBA loans that will involve free money, no-interest loans, or government grants. The truth is that the SBA won’t lend funds directly …

SBA Loan FAQ’s – Part 1

First Financial SBA Loan, Video 0 Comments

Youtube link to this video https://youtu.be/gdFVUeaRjMY Transcript of the Video Hi, my name is Dan Pace, I’m the Chief Financial Officer of First Financial Leasing and Finance. We were established in 1997 for the purpose of facilitating small business owners to open a startup business or facilitate their existing business. We primarily loan SBA packages anywhere in the amounts of $20,000 …

first financial helps Military veteran get SBA loan to buy franchised small business

First Financial helps vet become Franchisee through VETFRAN

First Financial Franchise Purchase, SBA Loan 0 Comments

Original Article: http://www.entrepreneur.com/article/243017   “Where did you get most of your advice/do most of your research? I talked to some of the current business owners and my business coach, Bruce Krebs of the Entrepreneur Source. Bruce never hesitated to apply his extensive business knowledge and advise me every step of the way, making my dreams a reality. Also, Cindy Watson, …

types of SBA Loans

What types of SBA Loans are available & what’s the difference

First Financial SBA Loan, Working Capital 0 Comments

SBA is an acronym for Small Business Administration. It is a federal agency that deals in offering financial help to small businesses. SBA works through the banks and financial institutions across the country. The primary difference between a normal business loan and an SBA loan is that the latter is backed by the government. The former is entirely subjected to …