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Blog 
Franchisee Services
- Worst and Best Fitness Franchises to Buy: 2011 SBA Loan Default Rates
- Quiznos Franchisee Association Formed
- Massachusetts Fair Franchising Bill: What Would It Mean for Franchisees in Massachusetts?
- Money Back Guarantees When Buying a Franchise: Reliable or Not?
- Proposed “Universal Franchisee Bill of Rights”
Legal News
- Midwestern Burger King Franchisee Files Chapter 11...
Posted on 1/20/2011 - Release of Second Edition of Charles Internicola's Book...
Posted on 8/6/2010
Library
Franchisee Services
- Issues of “Forum Selection” when Forced with Termination of Franchise and Dealership Rights
- Franchisees: Filing a Complaint with the California Department of Corporations
- Before You Sell Your Franchise (Part A)
- Before You Sell Your Franchise (Part B)
- Franchisees: Filing a Complaint with the New York Attorney General
What do you need to provide to a bank when applying for a commercial loan to purchase a franchise?
A: When applying for a commercial loan to purchase a franchise there are a certain documents and items that the bank will expect you provide such as:
- Business plan
- Completed loan application
- Projected income
- Equipment and inventory list
- Personal tax returns for the past 3 years
- Financial statements
- Proposed lease agreement for place of business
- Notice of intent from suppliers
- Copies of any relevant business licenses and other legal documents
- Resumes on all principals
- A copy of the Franchise Disclosure Document (FDD)
- A copy of the franchise agreement for the franchise you are purchasing
While these are the most common documents and forms required for a franchise loan it is important to check with the bank for any additional documents or pieces of information that may be needed.
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to be current and to be accurate. The content of this website is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.
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New York, New Jersey
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Video Library
Franchisee Services:
- What is a Protected Territory When Buying a Franchise?
- What is a Frachise Disclosure Document?
- What is the Purpose of an FDD?