Some figures from a new study offer some interesting signs that franchise funding is increasing from specialist lenders.
The website MyBankTracker recently examined the franchise Boefly and some of their opinions on the subject of financing. Boefly is a website that connects lenders to borrowers. The purpose of their site is to create "an online marketplace to connect lenders and borrowers from all over the country, much like an online dating service". This is a pretty exciting service for franchisors and the website's internal statistics show a definite spike in funding opportunities.
Here are some of the most relevant findings from a recent survey:
- Franchise start-ups receive 15 percent more lender requests than independent business start-ups
- Franchise owners looking for working capital loans receive 47 percent more lender requests than independent businesses
- Franchise owners looking to refinance receive 18 percent more lender requests than an independent business
The study also indicates that lenders seem more interested in franchises as they see them to be a safer investment.
These are some pretty interesting findings coming from an organization on the frontline of funding. Franchisors looking for new lending services should equally see what Boefly has to offer.