266: Franchise Financing with Ben Johnson
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 5 August 2019
⏱️ 45 minutes
🧾️ Download transcript
Summary
Financing a Franchise small business with Ben Johnson, VP of Commercial Lending at First Bank Texas. He explains the potential advantages of securing financing for a first-time franchise business and why a franchise may provide an advantage from the bank's perspective. Ben shares the types of loan programs, including the SBA 7A, and what a bank is looking for to qualify.
Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business show – dedicated to helping you start, run and grow your small business. (TheHowOfBusiness.com)
Transcript
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| 0:00.0 | Welcome to the How of Business with Henry Lopez and David Begin, the podcast that helps you start, run, and grow your small business. |
| 0:13.0 | And now, here are your hosts. |
| 0:15.0 | Welcome to this episode of The How With Business. This is Henry Lopez. And my guest today is Ben Johnson Ben welcome to the show thank you very much |
| 0:22.6 | henry glad to be here yeah we're looking forward to this conversation we're going to chat about |
| 0:26.9 | financing options for franchise businesses now a lot of what we're going to talk about applies to |
| 0:32.8 | any kind of business that you're starting and are going to look for lending for, but we're going to look |
| 0:39.0 | at it very specifically, and I'm going to ask some questions have been looking at it from a |
| 0:43.5 | franchise perspective. That's a focus of several episodes that we've done on franchising, and there's |
| 0:50.7 | an upcoming webinar that I'll tell you more about in a moment. |
| 0:59.5 | But if you want to receive more information about franchising, including the free download, |
| 1:03.8 | I have a free download on this topic called Six Myths of Franchising. |
| 1:09.3 | There are a lot of misconceptions and myths about what franchising is and what it's not. |
| 1:12.7 | It's a great document that I've co-written with Sarah Waskow, |
| 1:14.4 | who's a franchising expert. |
| 1:19.9 | And so you can just text the word biz, B-I-Z, to 31996, |
| 1:22.5 | and I'll send you a link, reply, |
| 1:26.4 | and then you can easily download that free document. |
| 1:31.1 | So Ben Johnson, Ben Johnson is a VP of commercial lending at First Bank, |
| 1:37.7 | Texas. He's a lender, a certified business appraiser. He's an experienced senior business and credit analyst and portfolio manager, a loan broker, and a financial services professional. He's, |
| 1:44.0 | he's been all over the industry in different |
| 1:46.6 | roles. Prior to First Bank, Texas, he was an independent business consulting, consultant, rather, |
| 1:53.3 | working with Sentinel Financial Corporation and North Texas appraisers. In that role there, |
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