Funding for Franchise Owners Topic of IFA Summit
The International Franchise Association announced it will cohost a Small Business Lending Summit April 7 in Washington, D.C. The summit will address concerns from IFA members about access to funding for franchise growth in 2011.
According to a recent IFA member survey, “39 percent of franchisors report that more than 50 percent of their franchisees and franchise prospects are unable to obtain needed financing, compared to 33 percent from a similar survey in November 2010.
“Some 60 percent say they have seen no improvement in credit access in recent months compared to 65 percent who reported the same conditions in the November survey. Among franchisees, 41 percent report that credit access has a significant impact on their business compared to 31 percent in the November survey.”
IFA is partnering with organizations such as the Consumer Bankers Association, CIT Group, the National Association of Government Guaranteed Lenders and the National Restaurant Association to address these issues.
The summit will feature Don Graves, Treasury Department deputy assistant secretary for Small Business, Housing and Community Development; FDIC Vice Chairman Marty Gruenberg;, Senate Small Business and Entrepreneurship Committee Chairman Sen. Mary Landrieu;, House Small Business Committee Chairman Sam Graves; and Steve Moore, senior economics writer and editorial board member at the Wall Street Journal.
To learn more about the summit, click here. Do you plan on following the outcomes of the summit?
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Do you plan on following the outcomes of the summit?
Yes, please forward any information that you can on the summit when it is done.
Thanks, Sincerely, Scott Wurst