Cover and Cover story Franchising USA February 2019

$5.95 www.franchisingusamagazine.com

VOL 07, ISSUE 4, feb 2019

Business Finance Depot

The Franchise Finance Experts

Business Finance Depot is dedicated to assisting start-up franchise systems and established franchise networks and their new franchisees to secure financing. They offer a ‘one-stop-shop’ service, utilizing 2 complementary products; SBA7a loans and equipment leases.

Franchising USA Magazine sat down with company Chief Operating Officer (COO), Marisol Cruz, to chat about the many successes Business Finance Depot achieved in 2018, and the tremendous growth expected throughout 2019.

Expert Finance Advice

For franchisors who are looking to give their franchisees the best possible chance at success - or start-up franchise systems seeking to hit the ground running with effective support and advice behind them - game changing financing like that offered by Business Finance Depot is a welcome addition to their finance options.

As Marisol Cruz explains, Business Finance Depot has spent years establishing and developing partnerships with franchisors and franchise organisations, making them reliable industry leaders when it comes to consulting on franchise finance and securing loans.

“As COO, I cover a few areas of the business,” Marisol says, “as well as my duties as Chief Operating Officer, I also assist and consult franchisors and individual franchisees with all of their finance options.”

Business Finance Depot offers a wholistic, full focus service to all their clients, assisting and advising on every stage of the financing process. They help filter through the many options and set their clients on the right path, assist in completing all applications and facilitation of all necessary paperwork and help plan financial projections.

Marisol Cruz

Assisting in creating a template, planning and recording financial projections is certainly a massive value adding service for franchisees who may not be able to receive this advice from their franchisor. Business Finance Depot has the experience and expertise offer expert advice on these important processes.

Superior Product Offering

Business Finance Depot’s products are particularly strong in serving businesses that require expensive equipment to run their business, which lends itself well to equipment leasing. Good examples are embroidery equipment, sign making equipment and fitness equipment. Also, if a vehicle is required to manage the business, the team at Business Finance Depot can arrange for the purchase at dealer’s cost and financing along with any tools and equipment needed to be in the vehicle to operate the business. Good examples are the tools needed to do carpentry, plumbing and pool testing work at a job site.

The company can also provide up to $150,000 in working capital to home based & retail locations needed to operate the business starting from day one of operations. The SBA Express loan is

“We currently have $32 million in finance approved, between the SBA7a and equipment loans - the highest to date.” - Marisol Cruz

perfect for start-ups because the repayment period is 10 years at low interest rates, and there is no prepayment penalty.

Business Finance Depot also packages larger SBA7a loans up to $5,000,000 with 3 national SBA lenders if your business requires more capital than an equipment lease and an SBA Express loan can offer. They are able to offer a variety of alternate lending sources for cash advances, micro loans and unsecured financing lines.

The Florida based company is able to service businesses right across the United States, and is rewriting how franchisors finance their locations through a combination of these equipment and SBA7a government loans.

Growth Initiatives and Industry Partnerships

Since starting out financing fitness gyms over a decade ago, Business Finance Depot has expanded its services to franchises and currently works with United Franchise Group’s numerous stable of brands, as well as many others. 2018 saw Business Finance Depot establish and develop partnerships with many other lenders and franchise organisations, including Francorp, which has set them up for a very successful year ahead.

“We currently have $32 million in finance approved, between the SBA7a and equipment loans - the highest to date,” Marisol explains. This figure is only set to rise throughout 2019 with the tremendous growth that Business Finance Depot projects over the coming months.

Meet the Team Face to Face

While the team at Business Finance Depot work every day to provide their clients with the best financial services and consultation in the industry from their head office in Florida, they also attend numerous trade shows and industries

conferences throughout the year and is set to be the 2019 national sponsor of all 5 MFV Expos. “We attend a lot of the trade shows and conferences, including the IFE and IFA conventions,” Marisol Cruz says. The ability to meet with and chat to the dedicated team at Business Finance Depot at these industry events is another great advantage for franchisors and franchisees.

Tremendous Success to Come

2019 is poised to be a fantastic year for Business Finance Depot and their many valued clients. The partnerships and initiatives instigated in 2018 have allowed the company to put their best foot forward right from the start of 2019.

Business Finance Depot are committed to assisting business get the financing they need, and their dedication, expertise and wide rage of services certainly put them ahead of the competition. The company has launched an online webinar and video series dedicated to teaching perspective franchisees how to prepare to evaluate and finance a franchise.

To find out more, visit businessfinancedepot.com or contact Marisol directly via email at marisol@businessfinancedepot.com.