Credit crunch affecting franchising

05/27/2008 | NJBIZ (New Jersey)

The credit crunch is causing banks and other lenders to be more cautious about lending to franchises, particularly first-time franchisees. "Banks are more comfortable with people who have experience and a track record. But even then they're taking a closer look. To get a loan, franchisees have to be prepared to document their claims of anticipated revenue and income," one franchise broker said.

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NJBIZ (New Jersey)

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