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For would-be entrepreneurs who do get financing, unsecured loans are relatively rare.

Even those with good credit may have to crack their retirement nest eggs to come up with enough cash to make a deal work. "The first thing we want free credit report and scores Baton Rouge to know is, 'How much cash do you have? Any outside income coming in?' " says Rick Anderson, general manager of Franchise Finance of Little Rock, Ark., a company that originates loans and leases for the franchise industry. Anderson says if borrowers have substantial cash, "we'd recommend they put more money into the deal -- maybe 40% to 50%, and we'd finance it conventionally." If they free credit report and scores Baton Rouge aren't flush, he says, they still may have to contribute at least 20% along with collateral -- perhaps just enough from a retirement account to cover the free credit report and scores Baton Rouge down payment to qualify for an SBA loan.

Brian Colburn, managing director of franchise finance at Butler Capital Corp., a commercial lender in Hunt Valley, Md., says that the "only bank loans I see being made to new franchisees are if a person has established other relationships with a banker, or has previous experience, or is a local figure in the marketplace. 3 credit reports The average Joe, 99% of the time the bank will free credit report and scores Baton Rouge turn him over to an SBA" office. Indeed, with banks becoming more tight-fisted, the SBA is becoming the place more would-be franchisees are turning to.

"It's what the SBA was created for, to provide access to free credit report and scores Baton Rouge capital for small businesses who can't get it through conventional means," says Christine free credit report and scores Baton Rouge Reilly, head of small-business lending at CIT Group Inc., a New York-based finance company. Reilly, CIT has recently "made some changes" to its underwriting criteria for franchising in free credit report and scores Baton Rouge order to reduce its risk exposure. get your free credit report online The standard SBA loan free credit report and scores Baton Rouge for franchisees is known as the 7(a), which is issued by a bank or other qualified lender, and partly guaranteed against default by the government. Because of that backing, such loans are seen as relatively low-risk. SBA loans include those for short-term free credit report and scores Baton Rouge working capital and equipment, which often have a five- free credit report and scores Baton Rouge to six-year maturity; and real-estate loans, which can run for 20 years or more. Despite the current tight-money situation, "we expect to have adequate funding to meet demand for fiscal '09," says James Hammersley, director of the agency's loan-programs division. About 10% of all SBA loans go to franchisees, with the size running between $250,000 and $500,000, although the maximum is $2 million. Most free credit report and scores Baton Rouge of that money is earmarked for franchise entry fees, improvements or working capital. get free annual credit report Even so, the program is feeling a bit of the crunch. Hammersley says about 300 of some 4,000 bank participants around the country have reduced their SBA lending activity. He also suspects that many bankers still in it are asking for more collateral.