Franchise Owners Share Their Experiences With FranFund’s SBA Loan Process
After nine years at FranFund, Shay Mora says that she wakes up every day feeling great about what she does. In her time at FranFund, she has ushered countless entrepreneurs on a path to financial independence. “This work is extremely rewarding,” she says.
In her current role as vice president of lending operations, Mora makes sure her clients receive white-glove service from start to finish. Mora and her team take their clients through an efficient, systematized process from the initial consultation all the way to loan funding. “No one likes surprises when it comes to loans and opening businesses,” she says. Part of that includes projecting every cost associated with each franchise, from royalties to advertising and any other operating expenses. “We have a specific template for each franchise,” she says. “Our lenders know that when an application comes in from FranFund, it’s complete.”
“Our team makes sure our clients are always engaged in our services. We understand that people are busy, so we keep them on track.”
Mora sees FranFund’s role as pivotal in the process of getting candidates to the finish line and opening their doors for business. “We stay with candidates until the loan is closed, and we constantly update everyone involved, including franchisors and franchise consultants.”
Here, new franchise owners share their experiences with FranFund’s SBA loan process and weigh in on the importance of financial independence.
Robert Alexander, Budget Blinds
What does financial independence mean to you?
There are two components to answering that question. On the one hand, I get to call the shots on how/when to run my business, which plays directly into revenue generation. On the other hand, it’s hard work and making a living — at least while starting out — means working nights and weekends. But it’s worth it since I’ve gained financial independence and I am personally responsible for my own success.
What was your experience like with FranFund?
Very good. They know the lenders and lenders’ processes well. They helped me navigate all the uncertainty and ultimately led to a quick and easy closing.
Daniel Monroe, TemperaturePro
What does financial independence mean to you?
Financial independence means I don’t have to rely on someone else or another company to determine my value. It also means I am able to focus on providing a long-lasting legacy for my family that will hopefully provide them with the ability to make decisions based on what makes them happy versus what they need to do to survive (i.e., pay the bills).
What was your experience like with FranFund?
FranFund was and still is a huge part of my early success and getting my business off the ground. Going through the whole start-up process alone would have not really been feasible. There were so many things to focus on during that time, and it would have been overwhelming and probably so discouraging that I might have lost the ambition to follow through.