Talk on the Street
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Talk on the Street
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With Congress recently increasing the SBA’s lending cap to $23.5 billion, franchise expert ALLSTATEFF.COM believe now is the time to launch a small business.
After hitting their cap of $17.75 billion for government-guaranteed 7(a) loans in mid July 2015, Congress recently increased the Small Business Administration’s lending cap to $23.5 billion, meaning the SBA was able to continue on with their popular loan guarantee program.
SBA See Record Lending Levels
According to small business administrator Maria Contreras-Sweet, the SBA have seen record levels of lending, with a fivefold increase in lending in July. It was this high lending volume in July that led the SBA to hit their threshold earlier than expected, more than two months before the end of the fiscal year.
Throughout the year, the Small Business Administration has awarded over 50,000 loans to people looking to start a small business. “While the SBA doesn’t loan money out directly, they do set guidelines for loans and back third party lenders who offer financial assistance for small businesses,” said Derek Cafferata, CEO of All State Franchise Finders, a company who specialize in offering expert advice on franchises, with both selling and buying. “The SBA’s loan guarantee requirements may change with government fiscal policy changes. Therefore, the time to take advantage of the increase in loan lending is now,” said Derek.
Small Business the Backbone of U.S. Society and Economy
Small business has always been a huge part of America’s economy and society. Since the 1970s, small business has provided more than half of all jobs across the U.S. And 40 percent of all retail sales in the U.S. occurs through the 600,000 plus small business franchises. “Franchises are hugely popular with Americans. There are around 8 million people currently employed within a franchise,” said Derek Cafferata.
According to ALLSTATEFF.COM, big name franchises are a popular choice with those looking to launch into a small business franchise for themselves. “Take someone like Matco Tools,” said Derek, “A highly respected name, known worldwide with a very solid foundation for someone with the drive and ambition to grow their own business. This is the sort of franchise that you can get into with the best chance of reaching your financial, career and life goals.”
Derek believes Matco Tools have an ideal business model for their franchisees. No costly monthly royalties, no advertising fees, no cold calling, a large protected territory, an extensive personalized training program and continued ongoing personal training and support, not to mention in-house financing programs.
All State Franchise Finders the Expert in Franchise Selection
All State Franchise Finders has more than 30 years’ experience in franchise sales and selection. Currently, they represent over 250 franchised brands across a wide variety of business sectors. ALLSTATEFF.COM provide systematic methods to help future business owners make an educated decision. Identifying a candidate’s goals, ALLSTATEFF.COM helps match them to an appropriate franchise system, one that has already been screened, analysed and reviewed.
ALLSTATEFF.COM have extensive experience in helping potential franchise owners access various funding options, including guidance with applying for a SBA 7(a) loan, which offers funding ranging from $20,000 up to $5 million.
For further information about a Matco Tools franchise, or any other franchise information, contact All State Franchise Finders on 1-800-544-2161 or visit allstateff.com