What is the process for obtaining SBA 7a financing to purchase a franchise with PJ's Coffee

What is the process for obtaining SBA 7a financing to purchase a franchise with PJ's Coffee of New Orleans?

Hey Beau, I am looking at purchasing a new PJ’s Coffee franchise. My question is: What is the process for obtaining SBA 7a financing? From what I gather it looks like total start up costs would be Total Estimated PJ’s Coffee of New Orleans Franchise Costs: $406,000 to $1,024,000

Thanks,
Thomas

Timestamps
[00:46] Check the SBA directory list
[01:02] The range depends on the locations of the total project cost
[01:09] Know your creditworthiness, borrowing ability, and equity that you have to come up with
[01:20] On a franchise startup, most banks are going to overlay
[01:29] There are banks that will allow for a 10% equity injection
[01:42] The banks like an established franchise concept with more units
[02:26] What might be part of your due diligence process before going to do a discovery day and validation
[02:43] Building out your total sources and uses
[03:00] Stack on some working capital
[03:09] The total project cost and the SBA fees
[03:28] What strengthens you as the borrower?
[04:23] Is it a well-liked franchise company that the banks like?

If you'd like to ask me a question about real estate, do it here -- https://investorfinancingpodcast.com/ask

Are you a real estate investor or business owner looking to expand? Book a discovery call with Beau to learn all the ways he can help you - https://investorfinancingpodcast.com/rumble

💥 Thanks for watching 💥
#Franchise #franchisebusiness #franchising #SBA #sba7a #coffeebusiness

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance all your projects.

About the Channel: Want to structure your investments in the right and secure way?

Learn great insights and make the right decisions through the Investor Financing Podcast hosted by Beau Eckstein.