FranFund Provides Funding Solutions to Small Businesses
FranFund, a leading funding supplier for franchises, announced Kimberly Steenblock as director of franchisor relations. She will assist FranFund’s franchisor partners in understanding their funding options and leverage the funding supplier as a resource. She brings years of franchise development experience to the role.
“I understand the fulfillment of destiny and triumphs small business ownership affords, which is why servant leadership in franchise development is so rewarding for me. I am thrilled to have the opportunity to join FranFund and its experienced leaders to expand the mission of helping people get access to the funding they need to start or grow their business,” Steenblock said.
She believes that FranFund is a class act in the industry and aligns with its values. “The FranFund Franchisor Relations team has done an impeccable job over the last six years building strategic brand and referral partnerships. The team and I look forward to building off that solid foundation and increasing our industry reach.”
She added that “FranFund was the first organization in the franchise funding space to facilitate multiple strategies under one roof and continues to keep efficiencies for franchisees at the forefront of our customer experience approach. Our employees focus on understanding the challenges and opportunities that franchisees face so that we are a true professional partner for our clients versus just a service provider.”
FranFund’s leadership team is thrilled to have Steenblock on board. “We began a department dedicated to supporting and growing our relationships with franchisors about six years ago. The idea was to make sure we, as a funder of franchisees, understood the brand economics, Item 7, Item 19, TPC, etc., so that when we receive referrals, we can validate the brand and make the customer journey more powerful. Kim has joined us to take that concept to the next level,” said FranFund president Sherri Seiber.
Steenblock and Franchise Development
Prior to joining FranFund, Steenblock worked at FranConnect as a solutions engineer and for Scooter’s Coffee in franchise development. Living in Omaha, Neb., Steenblock lived near Scooter’s Coffee headquarters. “As a long-time loyal customer, I took the opportunity to join their franchise development team to help contribute to growing the brand to a national level. I felt immense gratification in playing a part in helping award business owners the opportunity to fulfill their entrepreneurial destinies.” FranFund’s funding solutions affords entrepreneurs that opportunity, she said.
Funding Strategies
Steenblock is proud to work for a company that offers funding options for small business owners. “The FranPlan is FranFund’s name for the Rollover for Business Start-Up Program. Sometimes you may hear this program called the ROBS strategy, or the 401k rollover program; it’s all the same.” This program allows borrowers to invest eligible retirement funds into a business without income tax or early-withdrawal penalties, she added. “It allows the use of the full value of these funds to purchase a business. This is not a loan, so there is nothing for a client to pay back.”
Small Business Administration (SBA) loans are another option. “The SBA is a government program that allows lenders to offer business loans for start-ups, acquisitions, expansions, refinances, and working capital with values from $100,000 up to $5 million.”