Few people have the means to buy a franchise for cash or to finance the working capital out of their own pocket - most will approach their bank as a finance partner. From the Bank's point of view, and in terms of assessing our risk, we will take steps to evaluate whether the franchise you want to buy is reputable, which will also help you with your pre-buying investigations.
What the Bank will need from you
When you apply for a loan, we will consider the overall risk of the franchise. This means that we will look at the financial position of the business, the security or collateral you are offering, the business environment, and the management expertise in the business. We will also look at your personal credit record. Here is a full checklist of the information we will need from you:
Please note the above list is not exhaustive. Speak to your Business Banker for a full list of requirements, contact our Franchising Support Centre at +2711 344 5438, or email us email@example.com.