New government backed franchisee funding launched by CWRTSarah Bissitt
It is a big step from deciding to start a franchise to actually opening your doors for business. For many, one of the biggest hurdles is raising the finance to start up your new business venture.
To help overcome this barrier to setting up a new franchise, the Coventry and Warwickshire Reinvestment Trust has launched a new Franchise Fund, lending between £1,000 and £75,000, to help finance the purchase of franchise licenses and encourage employment.
Franchising continues to be a dependable business opportunity and UK franchisors and franchisees are confident about the future, with nine out of 10 franchisors reporting optimism for trading conditions over the coming year.
We finance those businesses that mainstream funders, such as banks, fail to support. Many of the start-up companies we work with have become very successful and created jobs, so we are providing a much needed alternative funding approach.
Aimed to support individuals without financial resources to start new franchise businesses, the new fund is another addition to CWRT’s lending portfolio.
With over 10 years of successful of providing start-up and small business loans, CWRT already offers start-up loans across the West Midlands and small business loans to Coventry and Warwickshire businesses.
The good news is that because franchising is recognised as a safer route into business than setting up on your own, CWRT is happy to lend for the initial investment as part of a reputable franchise.
When applying for a start-up loan, franchise business plans are a must have, and often the franchisor will help.
Our Franchise Fund is a great way to encourage new entrants into this vibrant sector. We are confident that with our start up loans for the upfront cost of franchise licences, financed businesses will grow and provide local employment.
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