How can new franchisees secure funding in Canada?
How can new franchisees secure funding in Canada?
The Canada Small Business Financing Program (CSBFP) is a great place to start it helps with loans up to $1 million.Some franchisors partner with banks or credit unions for pre-approved financing, so ask before applying independently.Personal savings, home equity, and local business grants can supplement financing if your bank loan doesn’t cover everything.
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New franchisees in Canada can secure funding through banks, credit unions, government programs, and franchisor financing or incentives.
New franchisees in Canada can secure funding through banks, BDC loans, the government-backed CSBFP program, franchisor financing, or alternative lenders. It can feel overwhelming at first, but once you find the right partner who believes in your plan, the whole journey suddenly feels possible.
New franchisees in Canada can secure funding through a combination of traditional bank loans, government-backed programs, and private lenders. The Canada Small Business Financing Program (CSBFP) helps reduce risk for banks, making it easier to obtain loans for equipment, premises, or working capital. Some franchisors also offer financing options or partnerships with preferred lenders. Preparing a solid business plan, demonstrating financial stability, and understanding the franchise’s costs are essential steps to improve the chances of securing funding.