SBA Loans Decreasing AND Increasing?

SBA loan trends

  According to recent statistics, the Small Business Association (SBA)  approved $28.6 Billion in loans this year.  While that number might sound staggering to some, it's actually $1 billion less than the previous year, and the third straight year of decline. Some might be concerned with this trend, but on the other side of the coin, the number of approved loans has been increasing steadily. In fact, almost 58,000 loan applications were approved this year compared to 54,106 last year, and...

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Top Questions to Ask when Choosing a 401(k)/IRA Business Funding Company


  So you've made the decision to purchase a business or franchise, and you think you'd like to fund it using your retirement plan? Congratulations! That's a wise choice for funding a franchise — you can secure funding FAST , there are NO loan payments, you can pay yourself a salary from the start, and the list goes on… Now, the question is "What company should I choose to help me do this?"   While there are a few good companies out there who handle this type of funding, it is critical...

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Benetrends Leading a Financial/Lending Summit at the 2014 Emerging Franchisor Conference

          Benetrends President and CEO, Rocco Fiorentino, will be facilitating a session at the 2014 Emerging Franchisor Conference: Financial/Lending Summit: Strategies for Growth Be an active participant in this panel session featuring guest franchisors of varying sizes who have been where you are now and are sharing their best advice on: • Funding insights and resources to empower you and your franchisees to reach your growth goals • Building a foundation for growth...

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Dispelling Current Myths in Franchise Funding

Dispelling Franchise Funding Myths

Eric Schechterman, Director of Sales at Benetrends, examines and dispels the current myths in franchise funding, in a featured article in the November issue of Franchising USA magazine. Read full article

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Unlock the Necessary Funds Required for an SBA Loan

Use a 401k for SBA loan equity injections

One of the most popular questions we are asked by entrepreneurs interested in getting an SBA loan is:"What are my options for securing the money needed for an SBA loan?" This is because in order to qualify for an SBA Loan, most lenders typically require the entrepreneur to come up with a 20-30% equity injection. So, say you need $125k to purchase a franchise plus another $75k for working capital, for a total project cost of $200k. The bank would require you to inject $40k to $60K towards the project,...

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This Segment of Small Business Owners is Flourishing

funding for women

What do these businesses have in common? Flickr, Build-a-Bear, Eventbrite, SlideShare. If you guessed they were all founded by women, you are correct. Women small business owners are one of the fastest growing sectors of our economy according to the Small Business Administration (SBA). Thank the inspiring role models who have paved the way and showed younger generations that it can be a viable and lucrative career move. (Even the current head of the Small Business Administration, Maria Contreras-Sweet,...

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Great News for Veterans: SBA Extends Fee Relief for Business Loans

Veteran loans

According to the U.S. Census Bureau, nearly 1 in 10 small businesses are veteran-owned. Additionally,  about one quarter of the 22,658,000 veterans in America today say they are interested in starting or buying a small business. US Military Veterans So the recent announcement by the U.S. Small Business Administration (SBA) that it will extend its fee relief for SBA Veterans Advantage loans through September 30, 2015, is terrific news for our military veterans. (This fee relief was originally scheduled...

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The Entrepreneurship Story of Benetrends President/CEO


Benetrends President/CEO Rocco Fiorentino knows what it's like to be an entrepreneur and franchise owner. His unique story and perspective on how (and why) he started on his path to entrepreneurship at a young age was featured in a recent interview with Executive Leaders Radio. Listen to his story here and tell us about your own!

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Small Businesses and Data Breaches: What you Need to Know Now about Cyber Liability Insurance

Cyber liability insurance

By: Bill Skene, Executive Director of Insurance and Risk Management Got insurance? With a number of high profile data breaches in the news over the past several months, 2014 has already been dubbed by some as the Year of the Data Breach. According to InfoSecurity Magazine, as of July 15, 2014, more than 400 data breaches have been reported, affecting more than 10 million personal records. While an underground network of overseas hackers stealing thousands of credit card records from large corporations...

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$23.7 Trillion to Help Franchisors Grow

401k funding

Retirement plan assets According to a recent report by the Board of Governors of the Federal Reserve System, there is an estimated $23.7 Trillion in U.S. Retirement Plan Assets. This is great news for franchisors who are looking to grow their franchise system. As you may already be aware, when leveraged by your candidates and franchisees, retirement plans can be used to purchase a franchise tax-deferred and penalty-free. This type of funding, often called 401(k) rollover funding or ROBS (Rollovers...

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