Financing Your Franchise with John Marshall Bank
If you’ve filled up your car with gas, stopped for coffee on the way to work, grabbed a quick bite to eat, or re-stocked groceries and home supplies in the past week, odds are you visited a franchise. Franchises are everywhere (there’s over 800,000 in the country) and are an important part of keeping daily life moving, which is why as an entrepreneur you might want to get into the franchise game and John Marshall Bank is here to coach and provide support for your foray into franchising.
Why a Franchise?
Franchises offer some advantages over starting your own business. The biggest of which is risk. When you run a franchise, you start off integrated into a larger support system that’s already part of an established business model. You’ll be going into business with a strong sense of what works and what doesn’t. Combine that with John Marshall Bank’s unique and favorable financial solutions, and you won’t just be hitting the ground running; you’ll be at a full sprint.
Support Your Franchise with an SBA 7(a) Loan
Franchises benefit massively from the SBA 7(a) loan program. These loans, which the Bank offers in partnership with the US Small Business Administration, can be used for a variety of franchise-specific purposes such as:
- Buying a franchise that’s already operating
- Opening a franchise of your own or expanding your current franchise network
- Funding permanent working capital
- Purchasing equipment, furniture, and inventory
- Financing buildouts and renovations
- And so much more
There are so many options when it comes to using an SBA 7(a) loan for your franchise but don’t worry, the JMB SBA team are experts at finding the right reason to use an SBA loan. Additionally, we know the business world moves fast, which is why we’re proud to say that the Bank has Preferred Lender Status, which shortens the loan approval process without sacrificing quality, getting you and your franchise the money it needs at the pace it deserves.
Is that not fast enough for you? Well, we can move even quicker with SBA Express loans which feature an even further expedited loan process for loans of $500,000 and under. Ideal for the franchise owner in the ever-moving DC Metro Area.
JMB as Your Franchises Financial Partner
There’s plenty of reasons to own a franchise and there’s just as many, if not more, reasons to choose John Marshall Bank as your franchise’s financial partner.
- As a community bank, we have a relationship-centered approach to banking. We take the time and effort to look at all the factors of your business to provide hand-crafted financial solutions and plans that fit your business, instead of forcing you into a mold like a larger national bank would.
- Because we’re a community bank, we have strong ties to the same communities you’ll be operating in allowing us to connect you with trusted professionals that you’ll need to work with as you run your franchise such as general contractors for when you need construction and maintenance work done and attorneys for when you have to navigate the legal landscape of operating a franchise.
- We provide top-of-the-line financial and fraud prevention tools including a host of treasury management services such as payable solutions, business credit and debit cards, ACH services, and more.
- When you bank with JMB, you get a dedicated relationship manager who will know your business just as well as you do and be just as invested in its success. When you succeed, we do, and so does the community, and that’s important to us.
Don’t just take our word for it, though. See what some of our franchise clients have to say about how JMB is a premier partner for those looking to open and operate a franchise by checking out their testimonials below.