Franchise Financing
Some Food is committed to helping you in every aspect of opening your new restaurant. We have developed relationships with the largest and most active franchise lenders. These lenders have investigated our economic model and the operational expertise of our system and have become comfortable in underwriting loans to our franchisees. They have classified Some Food as a Tier 1 franchise system and offer the most aggressive rates and terms to our franchisees.
We have also developed relationships with expert loan brokers who have established relationships with over 40 of the most aggressive lenders in the country and can find you the best terms from just one set of loan application forms, which saves you the hassle of filling out multiple forms to find the best rates and terms yourself.
Loan Programs
Loan programs available to Some Food franchisees include SBA and Conventional Lending Programs. The SBA has two main loan programs which are designed to help Some Food Franchisees (7A and CDC 540). These SBA Loan Programs fund up to 85% of the total project costs including working capital and franchise fees, based upon your qualifications. We maintain strong relationships with the largest SBA lenders in the country. These lenders are familiar with the Some Food system and have loan officers and underwriters dedicated to making the loan application and approval process smooth and easy. SBA loan applications are approved in 10-14 days typically.
Some Food also maintains relationships with the strongest conventional lenders as to take you beyond that first store into multi-unit development. Terms on conventional loans fund from 75% -90% of the building, land and equipment costs. Qualified candidates gain the advantage of working with aggressive lending professionals who are committed to helping them open their Some Food restaurants in a timely manner. .
Lease Options
Other options available to you as a franchisee – based upon your credit-worthiness – include relationships we have established with build-to-suit developers who will purchase the ground, hire the contractors, purchase the equipment for your restaurant and lease the entire package back to you. These leases can be structured in many different ways and can possibly include terms for purchase options.
It is our commitment to the financial health of our franchise partners to help provide them with options to effectively finance their business. While we do not guarantee that any given lender will commit to offer you the financing, we do work hard to provide them with all of the information, which will help them make an informed decision and make the financing process as smooth as possible for you.