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Question

Can I finance all applicable franchising & Investment fees?
Heather T - Kamloops, BC

Answer

Generally, no. Banks will usually only lend money where there is “tangible asset backing”. “Assets” are things that you own personally or as part of the business. “Tangible” means that someone can touch and feel them (tables, chairs, refrigerators, stoves, lamps and so on). These types of assets are also referred to as “collateral assets” for this reason. “Backing” means that the bank can seize the collateral assets used to back the loan in the event (God forbid!) something goes wrong with the business so that they can get back some of their money.

The answer to this question was provided courtesy of: Perry Maisonneuve.
Perry Maisonneuve can be reached via email: jpmaisonneuve@FranchiseServices.ca or by visiting his website: www.franchiseservices.ca