SBA LOANS

Franching Purchase or Start-Up

Community Bank offers financing for the purchase or start-up of an approved franchise. Loan proceeds can be used to pay for the franchise fees, leasehold improvements, equipment purchase and working capital.

Community Bank will need the following items to begin the loan application process:

• > Copy of the Franchise Agreement and Offering Circular (if not on the list of approved franchises – see www.franchiseregistry.com)
• > Business tax returns (if any) for the last 3 years
• > Interim financial statement (if any) dated within the last 60 days
• > 1 year cash flow projection
• > Business Plan
• > If borrower has ownership in affiliate businesses, we will need copies of the last 3 years tax returns and financial statements
• > Personal Financial Statement and the last 3 years tax returns from all individuals with 20% or more business ownership
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• > Estimated cost breakdown of leasehold improvements and equipment
• > Copy of Lease Agreement
• > Completed loan application documents
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