Benefits of using the CBI TEAM’s Loans4Biz program
Several years ago, a young man contacted CBI TEAM about his need for a loan. He wanted to establish a new location for a franchise and he had already been told “no” by more than a handful of banks in the Northwest Arkansas area.
As the manager of our Loans4Biz program, I was happy to visit with him about our ability to help him obtain a loan – in fact, I told him it was likely that we would be able to provide him with not only a loan, but several different financing options to consider.
After he agreed to participate, we worked through the steps to prepare a Confidential Deal Room (CDR), a secure online repository that would contain all of the typical information most lenders request when considering a deal.
After alerting over 75 lenders about the opportunity to provide financing, we received six proposals with just as many different ways to structure a loan.
The young man selected a lender and was able to open his first franchise location within the year.
Since then, this young man has established multiple successful franchise locations across the country. Without the assistance of the Loans4Biz program, this young man may have never opened his first franchise location.
The Loans4Biz program saves participants time and money by offering the following benefits:
– Assistance with gathering and completion of documents required by most lenders
– Initial communication with all interested lenders handled by CBI TEAM
– Much better chance of finding a lender who is interested in providing a loan
– A number of financing options presented for consideration
– Thousands of dollars of interest saved over the full term of the loan
– Faster processing with select lenders
Although Loans4Biz program was created to assist buyers of businesses listed by the CBI TEAM, the benefits of using the Loans4Biz program are available to anyone who needs assistance with financing…whether you are buying a business listed by CBI TEAM or not. To learn more about the Loans4Biz program, contact Kelly Tivis @ 479-770-8989 or kelly.tivis@cbiteam.com
