The Approved Franchise Association

a new way forward
for franchising

0208 088 2400
     

Partner Spotlight: Outset Finance

Government start-up loans for franchisees ...

 
 


This week, I'd like to tell you about a new AFA partner company, Outset Finance. They offer low-cost loans for would-be franchisees who need to raise funds to get them started ...

If you're looking for a start-up loan to buy your franchise, call Outset Finance!

If you're looking for a start-up loan to buy your franchise, call Outset Finance!

copyright: outset finance

Outset Finance is a national delivery partner of the Government's Start-Up Loans programme so are tasked to provide finance and support for businesses up and down the country who struggle to access mainstream lending.

These loans (note, they're not grants) are provided on an unsecured basis to individuals, so there's no need to put forward any assets or guarantors to support an application.

The amount you can borrow is between £500-£25,000 per person, usually over 5 years. There are no fees involved as Outset Finance are paid by the Government and the interest rate is fixed at 6.2% APR.

In these tough economic times, you'd think that not many loan applications get accepted, but in fact, Outset Finance approves 30 loans for new ideas every month, many of them for franchisees and they are looking to support even more people in 2018.

To apply for a government start-up loan, applicants are sent a series of emails with prompts asking for information and documents which they upload through a cloud-based system. This means they don't have to interrupt their normal daily schedule to complete a successful application.

Dave Leaman, from Outset Finance said, "You will have been approved by the franchisor before you approach us to borrow. With regard to the lending applications we see, every case is unique of course.

There are multiple criteria that an underwriter thinks about for each proposal, but it's worth mentioning four key points; you will be joining a successful franchise brand, you'll be able to demonstrate you're a good 'risk to fund’ personally, you’ve got a comprehensive business plan with projected numbers plus you'll have a realistic 'Plan B' to show us you can manage to make the loan payments if franchising isn't for you."

If the franchisee stops trading, the individual who took out the loan is still personally liable for the loan amount and interest, so will still need to make the payments until the loan is fully repaid. The loan is to a person, not a company so limited liability does not apply.

"Would you like to know more?"

You can register your interest at www.outsetfinance.com and then go from there. You can see more about how they support franchises on their dedicated webpage by clicking here. Alternatively, call Dave direct on 07900 168437 or click here to ping me an email and I'll forward it on to him.

Until next time ...

CLAIRE ROBINSON


   Buffer
Click here to Share, Email or Bookmark this website

Précis (2)





More about Claire Robinson ...

I am a serial entrepreneur, having successfully established a networking group, a magazine advertising company and a building contracting company over the past few years.

Now living in Devon, I'm CEO of The Approved Franchise Association. I have a passion for business and am determined to grow the AFA int the leading franchise association in the United Kingdom.

Telephone:

0208 088 2400

Website:

http://www.theafa.org.uk


More of my blog posts for you to enjoy ...

Partner Spotlight: CBS (Insurance) Ltd
Insurance services for the franchise industry ...

Announcing The Franchise Now Expo Sheffield
Book your free ticket ...

Top Tips For Starting A Business With A Friend
That's what friends are for ...

Making A Difference In Your Local Community
Getting involved can only benefit your business ...

Member Spotlight: Gymboree Play And Music
A genuinely beneficial and rewarding business ...

Member Spotlight: Westcountry Hygiene
Essential hygiene systems and products ...

Member Spotlight: Tots Play
Classes and parties ...

A Brokerplan Network Case Study
The power of their financial contacts ...


 

Keep in touch ...

Send us an email
View ourRSS newsfeed
Find us on Facebook
Follow us on Twitter
Connect with LinkedIn

By Category ...

Benefits Of Membership (11)

Exhibitions (2)

Franchise Success (3)

General (12)

Legalities (2)

News From Our Franchisors (16)

Our Partners (2)

By Popularity ...

8 Things To Consider Before Buying ...

Let's Get Back To Basics: What Is A ...

Issues To Consider Before Signing A ...

Making A Difference In Your Local C ...

Introducing The Approved Franchise ...

Top Tips For Starting A Business Wi ...

Brexit And What It Could Mean For T ...

The Benefits Of Joining The Approve ...

Is Your Website Legally Compliant?

EWiF: Changing The Face Of Franchis ...

Quote of the day ...

"Leaders don't create followers, they create more leaders"

Login ...



Remember me