Home of Sunbelt business brokers and Franet. We broker people buying and selling small nj business. Directions to Sunbelt business brokers & Fran Net. FAQs about buying selling small business & franchises in NJ. Sunbelt business broker team of professionals. We give seminars on how to buy a franchise or small business in NJ. We give seminars on how to buy a franchise or small business in NJ.
helping you buy
franchises in NJ
How we help you buy a New Jersey Franchise.
Help us find the best business or franchise for you.
How to finance buying a franchise.
Informational video for buying franchise in New Jersey.
J.Armstron interview on NJ franchises.
Asses what you want in buying a new jersey franchise.
Help us sell and buy nj business or franchise.

Getting financing allows you to buy the nj franchise you have dreamed about.

Franchise Financing- Financing Your New Busines

In order to receive financing, a business must apply for the credit to a source such as a bank, commercial lender or leasing company. With proper planning and guidance, you can greatly influence the financing institution's "credit decision" on whether or not to extend you the amount of credit on the terms you desire. Since the credit source most likely knows little, if anything, about your business, it is your responsibility to educate them and get them to look favorably on your application.

Have A Business Plan. A well conceived, comprehensive business plan is crucial. You must clearly and convincingly communicate what you intend to accomplish and how you plan to achieve your goals. The experience of writing the business plan forces you to become more focused about your specific business.

Be Complete And Thorough. A lender will give you an application to complete. Answer it in detail, ALL the questions; fill-in ALL the blanks; provide COMPLETE addresses, etc. In most cases, your application and supporting documents are all a potential creditor may see of you. If you don't care enough to provide all the information requested, why should the lender think you are going to pay enough attention to detail to make your business succeed: It may become tedious, but everything is requested for a reason. Plus, complete applications get expedited processing; incomplete ones get laid aside for later follow-up. In which pile would you rather have your application?

Know How Much You Need And For What Purposes. Be specific. It is up to you to know these things, not the lender to guess.

Be Realistic. Optimism is expected, but unrealistic expectations create skepticism. Explain how you will use the financing requested and how it will benefit the business. Be sure you don't make exaggerated claims as you will most likely lose credibility.

Show How You Will Pay The Loan Back. Build repayment into your financial projections. Your likelihood of repayment is the ultimate consideration in evaluating your request. Collateral is important, but lenders would rather have repayment. Prove, on paper at least, that you can generate the revenues to cover your operating costs with enough left over to pay the loan and your living expenses/salary.

Cover The Downside. Most businesses don't operate exactly as planned. Identify any weaknesses or potential problems in your business and address contingency plans and resources, as well as an exit strategy.

Have A Stake In The Business: With the possible exception of your family, no one is likely to provide 100% financing. Why should anyone else take a chance on you if you're unwilling to invest your own resources?

Put Yourself In The Lender's Shoes. Lenders want to make loans that will be paid back. The evaluate your personal and business credit history; your ability to repay based on credible financial projections in your business plan, and your collateral, among other things. If you were a lender, would you give your business this loan?

Be Persistent. If you application is rejected, don't give up. This gives you an opportunity to fix whatever was lacking. If you have put an honest, thoughtful effort into your search for financing, people will help you get it. That includes people you may be tempted to blame for not approving your request. Don't think "rejection", think "constructive criticism".

Frame Of Mind. Obtaining financing is not easy. Learning how to prepare a business plan and financial projections can be time consuming and frustrating - but the point is you are learning. The knowledge you gain in the process will be invaluable to you in the constant refinement that any business undergoes in both the planning and operational stages.


helping you
buy or sell
businesses in NJ
Sunbelt can help you sell your small NJ business.
How Sunbelt sells small businesses in NJ.
Testimonials from our customers who have bought or sold NJ businesses.
Business that are for sale in NJ.
Forms to help you buy/sell small nj business.

| Directions to Sunbelt & FranNet | Buy a small business in NJ | Buy a franchise in NJ | Sell a business in NJ |
| FAQ's about buying and selling small NJ businesses |
| How to finance buying a franchise | Informational video about buying a franchise |
| How Sunbelt business brokers helps you buy or sell a small business |
| About Sunbelt business brokers and FranNet |
| Contact Sunbelt business brokers | Contact FranNet, NJ's premiere franchise seller |
| Forms that get you started buying and selling NJ small business |
| Forms that help you get started selecting and buying a franchise in New Jersey |

Copyright 2008 © Explore-Biz.com, a Sunbelt Business Broker and authorized FranNet representitive

Website by Key Media USA Optimization by Eagle Soars Marketing