FRANCHISE BUSINESS ACQUIRES THIRD GEORGIA RESTAURANT
THE SITUATION: CORPORATE ASKS CLIENT TO PURCHASE FRANCHISE
Our client, who owns two other pizza franchise restaurant locations in Georgia, is approached by the corporate office to open a third without a bidding process for the franchise.
Window of Opportunity
A local business owner operated a successful family-friendly pizza franchise in a midsize town in Georgia until retiring, when the restaurant closed. However, the town still craved more pizza.
Request from the Top
The corporate office was aware of the strong brand affinity in that community and the appetite for a location to open again. They asked our client, a successful operator of two other franchises, to re-open one in this town to meet demand.
THE SOLUTION: $1.5 MILLION 7(A) SBA LOAN FOR FRANCHISE
First Business Bank’s SBA team, an SBA-designated Preferred Lending Partner, worked to secure a $1.5 million 10-year SBA 7(a) loan build out, equipment, and a working line of capital so this community could once again enjoy its favorite pizza place
A 10-year SBA 7(a) loan provides clients favorable repayment terms, flexibility, and an improved cash flow position when compared to conventional loans.
Predictable Cash Flow
SBA 7(a) loans provide a stable, predictable source of funds to start, acquire, or expand a business, and for operational expenses, accounts payment, and purchasing inventory.
"Our client was so pleased to bring back this beloved pizza restaurant to the community after they lost it when the previous owner retired, and we were DELIGHTED TO HELP THEM MAKE THAT HAPPEN.”
— Jeff Smith, SBA Business Development Officer, First Business Bank