Baskin Robbins Franchise
Baskin Robbins Franchise
Speaker 1: It was really difficult for me to find big banks that were interested in lending to a small business entrepreneur. Basically, every time I reached out whether it was Bank of America or any of the big ones, they constantly would say no over the phone or wouldn't even want to meet to discuss the opportunities.
Speaker 2: So one of the things that I liked about Eric when he came aboard and to join Biz2Credit is that he was looking to purchase into or buy into an SBA approved franchise. He had all of his documentation ready to go, and also there was a true reason as to why he was purchasing the franchise, because it was a name brand that he grew up with and he loved.
Speaker 3: They put together a very complete package. It appeared that they knew their business by looking at the application materials they provided, and they had selected a candidate that knew his business and knew what he needed to do.
Speaker 1: It was a simple process. It was much easier than for somebody who hadn't gone out and secured any kind of business loan. It was a great way to meet with somebody to discuss how the opportunity worked, what the process was, have them walk you through the process, have somebody who is there to support you and obviously somebody who is there to guide you through the entire process.
Speaker 4: They have you prescreened so if you are going to get your credit pulled through a particular funding source, the likelihood is that they reviewed your financials, and they want to go ahead and move on with the transaction.
Speaker 2: I met with Eric through the process as we worked toward closing. We had already approved the transaction from the materials that Biz2Credit had provided before it was necessary to meet with Eric. He was very responsive, was able to answer questions and get us the materials we needed in order to close his loan.
Speaker 1: It was a simple process. It was much easier than for somebody who hadn't gone out and secured any kind of business loan. It was a great way to be able to meet with somebody to discuss how the opportunity worked, what the process was, have them walk you through the process, have somebody who is there to support you and obviously somebody who is there to guide you through the entire process.
Speaker 3: The people that we work with at Biz2Credit have been very prompt and assertive when it comes to answering our questions and handling any short falls in the application package to allow us to move the transaction as quickly as possible.
Speaker 4: Since Biz2Credit works with over 1000 lenders, we have a way of doing business with them where we consolidated our business. We also have banks close more deals than they would close on their loan. It lowers their cost of acquiring customers and in view of that; we pass on a lot of savings to the customer. So as a customer if you go to a bank and if you go to Biz2Credit, you will actually get a better term, better service and also going forward when you come back to get more money, we will be able to help you much faster because we have the data on you. Going forward, we can also now pull data on your company from your financial accounting packages. We can do it from IRS and make it very seamless for you to keep focusing on growing your business while we are always there to help you get more financing and also refinance your [inaudible 00:03:55].
Speaker 2: Our success rates are great. Out of the applications that we bring in, about 75 percent of it gets approved within a two months time. Speaker 1: Based upon the materials they provided to us, it's obvious that they know their business, they understand what a lender is looking for in an application package and they provided it.
Speaker 4: To date, we have funded over $550 million to more than 10,000 businesses. We have an approval rate of 75 percent-plus. Anybody who comes in within three months, 75 percent, plus businesses gets funded. The rest, we don't leave them. We help them become more credit worthy or try to get new lending sources who can keep funding them at any given point in time.
Speaker 1: I would say that the best part about Biz2Credit is that once you're in and talking to somebody, they just don't give up until they have secured a loan for you.