Sector: Financial Services
Is Franchise Funding A Challenge?
- “Difficulties accessing finance / capital is seen as one on the primary barriers to franchise expansion within the UK”. (Source: Nat West Franchise Survey 2015)
- In 2014, Outset Finance were appointed as a National Delivery Partner for the government’s ‘Start Up Loans’ scheme to provide business funding across the UK where applicants can’t secure finance from conventional sources.
- Through the scheme, we now approve funding to 30 new entrepreneurs every month – approving a total of £600,000 – and this includes many requests for new, early stage growth or resale franchise territories.
- The loan is an unsecured facility lent to each applicant on a personal basis – so there’s no need to put forward any assets or guarantors – payable monthly, competitively priced at a 6% fixed rate of interest (6.2% APR) and no fees over a term to mirror the franchise agreement (up to 5 years). The maximum loan amount we can provide is £25,000 per individual applying.
- Find out more about how we support the franchise sector by viewing our dedicated webpage http://www.outsetfinance.com/about-us/franchisors/
- Outset Finance are part of the YTKO Group who have delivered enterprise support for over a decade to pre-start, start-up, early stage and growth businesses