Can I Finance a WIN Home Inspection Franchise?
In-house financing makes a low-cost franchise even more affordable
Getting a loan can be the most difficult part of starting a new business, especially for a first-time business owner. WIN’s low startup costs mean that many franchisees don’t need a loan, but there is good news for those who do: WIN offers in-house financing.
We know our system works and has been successful for 20 years, and we also know that bank lending became much more difficult following the Great Recession. That’s why we’re putting our own money on the table to help people start their businesses. If you meet WIN’s credit standards, which includes a credit score of at least 650, WIN may finance up to 50% of your franchise fee at an interest rate of 8% per year.
Other common sources of startup capital include:
Home equity loans: If you own a home and it’s worth more than you paid, you can likely tap into your equity to secure a loan at a good interest rate.
401(k) and other retirement funds: It’s possible to use your retirement funds to start a business without incurring any penalties for early withdrawal. The key is to rollover the money into a specific type of account that can be used to fund your business. We recommend consulting with an accountant and can also direct you to 401(k) loan providers.
SBA loans: SBA loans are also available. Stringent lending and documentation requirements can make the loan approval process quite lengthy — expect approval to take months, not weeks.
Bank loans through BoeFly: Even though traditional bank lending has gotten tougher to obtain, there are still banks ready to lend — it’s just a matter of helping you find them, and helping them find you. To help make the connection, WIN Home Inspection has partnered with BoeFly.com, an online marketplace that matches loan applications against more than 3,600 lenders nationwide. Banks then compete to win your business.
To learn more and discuss financing options, fill out the form above and we’ll be in touch!