Snap-On Tools Franchisees Bypass Traditional Lenders

March 15, 2012 by Mark | 0 Comments

StartupSmart:

Tool franchise Snap-on Tools Australia has established a private funding offering in a bid to attract franchisees, effectively cutting out traditional lenders in the franchise market.

Operating in Australia for more than 20 years, Snap-on Tools imports and distributes automotive hand tools, power tools, tool boxes, tool storage and automotive diagnostic tools.

The Snap-on Tools Australia Credit Program was launched in mid 2011, in response to the major banks’ tough lending criteria and the ongoing uncertainty surrounding interest rates.

To date, more than 10 new franchisees have taken up the offer, representing a third of the company’s yearly franchisee intake.

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