Franchise Note Buyers Debuts New Business To Help Franchisees Carrying Business Notes

AUTO-MOBI.info:

The current credit crunch has hurt franchising, one of the nation’s largest business segments. Thousands of franchisees, in order to sell their franchised business, are finding it necessary to carry back a business note to complete the sale, thus becoming their buyer’s bank. The seller financed business note puts the franchisee in a difficult situation as they do not end up with cash from the sale of their small business, and they’re faced with the worry that the note payor (their buyer) will not continue to make payments. Terms for Seller financing notes can last 5 years or longer.

As Rich Kolman, president & principal owner of Franchise Note Buyers explains “Carrying back these seller financed business notes can be a real nightmare for the small business owner or franchisee. Also, the fear of carrying back seller financing without a way to cash-out is limiting franchise re-sales. This is causing franchise closures which, in turn, slow down new franchise sales growth. So, we started this business to help franchisees, and the franchise industry, by buying these seller financed business notes.”

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