How to Finance a Kumon Franchise with an SBA 7a Loan?

How to Finance a Kumon Franchise with an SBA 7a Loan?

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Hey Beau,

I’m in the market for a Kumon franchise and was wondering what are the specific steps and documentation required to finance a Kumon franchise with an SBA 7a loan and what am I looking at for a timeline for the loan application process from start to funding?

Thank you,
Jill

If you are interested in financing a Kumon franchise with an SBA 7A loan, there are specific steps and documentation required for the process.

Typically, Kumon franchises fall under $350,000, making an SBA Express loan a suitable option. The standard forms include Form 413 and three years of tax returns. Additionally, you must fill out Form 1919, which serves as the application for the SBA. It's important to note that different banks may have their own documents for credit authorization. If you set up an entity, entity documents will also be necessary.

Furthermore, franchise disclosure documents and three years of projections are vital for any startup business, whether a franchise or a regular startup. To assist you throughout the loan process, templates are available for projections and streamlined forms. It's worth mentioning that not all lenders offer smaller SBA loans, but there are resources available to help you navigate through the process.

Suppose you have further questions or need guidance on SBA financings, such as the 7A or 504 loans or any other types of financing for different business scenarios. In that case, the speaker offers to book a call and provide assistance.

If you'd like to ask me a question about real estate, do it here -- https://investorfinancingpodcast.com/ask

Timestamps:
(00:03) Question about financing a Kumon franchise with an SBA 7A loan
(00:35) Specific steps and documentation required for financing a Kumon franchise
(01:04) Importance of three years of projections for startup businesses
(01:19) Go to investorfinancingpodcast.com/ask to ask other questions

💥 Thanks for watching 💥
#Kumon #KumonFranchise #franchising #SBA7a #SBA

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