For the borrower it works like this: They Complete Questionnaires and Upload Docs. This information populates the business plan and pro forma (projections) and completes their Loan Package. They then click which of the franchisor’s preferred lenders they want to share (give access) to their package and receive loan proposals from interested lenders. The franchisee selects the winning loan proposal/lender and the loan process stage moves from package to underwriting. This is when the borrower’s credit is pulled and the full underwriting process begins. They work with the lender direct or through their LoanBox advisor. Either way, you get alerts when each borrower’s loan process changes.

What are the benefits for Franchisee Borrowers using LoanBox?

1. Access to a Diverse and Tailored Lender Network: LoanBox connects franchise borrowers to an extensive network of lenders, including top national SBA lenders, niche industry-focused lenders, and local community banks and credit unions. This diverse range of lenders ensures that franchisees have access to a multitude of financing options tailored to their specific needs and circumstances. By exploring various lending options, franchisee borrowers can increase their chances of finding the most favorable loan terms, interest rates, and repayment structures that align with their business objectives.

2. Simplified and Streamlined Loan Application: LoanBox offers franchisee borrowers a streamlined and user-friendly loan application process. Within the portal, franchisees can access all the necessary loan tools, documents, and resources in one central location. The platform's intuitive interface guides franchisees step-by-step, making it easier to compile loan packages, meet lender requirements, and submit loan applications electronically. This seamless process eliminates the need for extensive paperwork, reduces the risk of errors, and accelerates the loan application timeline.

3. Flexibility and Time Savings: LoanBox caters to the needs of franchisee borrowers by providing flexible accessibility options. Franchisees can access the portal through a web interface or a dedicated mobile app, granting them the freedom to submit loan applications and manage their lending process at their convenience. This flexibility saves considerable time, as franchisees can submit applications, upload documents, and participate in loan-related discussions without the need for in-person meetings or the constraints of traditional office hours. Franchisees can dedicate more time to their business operations, enhancing productivity and driving profitability.

4. Expert Guidance and Personalized Support: Within LoanBox, franchise borrowers have access to a dedicated team of loan advisors who possess specialized expertise in franchise lending. These loan advisors provide personalized guidance, offer expert insights, and act as trusted confidants throughout the loan journey. Franchisees can benefit from their vast knowledge and experience, ensuring they understand the intricacies of the lending process, making informed decisions, and securing the most suitable financing options tailored to their unique requirements.

5. Less stress. Securing a loan for a franchise can be a daunting and time-consuming process for franchisees. Navigating the complexities of SBA loans, conducting extensive research, approaching multiple banks and brokers, and battling misinformation on the internet can lead to significant stress. LoanBox changes all of this. When everything and everyone specifically for your franchise brand lending is all in one place, it makes things a lot easier and less stressful. You don’t have to try to figure everything out yourself, how to do it, which lenders to use, everything is laid out for you.

Franchise-Tailored FAQ

For those franchisees who favor straightforward answers without engaging with an AI chatbot, our FAQ portal is a one-stop solution. Derived from a comprehensive database of many hundreds of FAQs, our portal provides franchisors the flexibility to select categories that are relevant to their brand. We assist you in curating a dedicated FAQ page, infusing any additional queries you might have, and tailoring the responses specifically for your franchisees.

The standout feature of our FAQ portal is its brand-specific customization. Typically, franchisees are not interested in learning the intricate details of an SBA loan or SBA lending process; their primary concern is a simple, quick loan procedure. Consequently, we eliminate any guesswork and misinformation by providing answers that are not merely generic, but tailored specifically to your distinct brand and industry.

Our FAQ portal is seamlessly divided into two sections behind the scenes. One area, editable by the franchisor, allows you to add new FAQs, modify existing ones, and even incorporate images within an FAQ answer for better understanding. Rest assured, these FAQs are accessible only within your portal, maintaining your privacy and control.

The second section, not editable by the franchisor, covers comprehensive information on the SBA, SBA loans, SBABOX, SBADNA Analytics, and more. This section is regularly refreshed with any significant changes in SBA rules and regulations, such as the recent release of the SOP 10 50 7. These updates are automatically integrated into the portals of those who have these specific questions. While franchisors cannot edit in this section, most of these questions can be deleted if not relevant, ensuring the FAQ remains user-centric.

In summary, our FAQ portal is a harmonious blend of franchisor-specific FAQs that you control, and the ever-evolving SBA loan side, tailored for your franchise brand. By providing accurate, brand-specific answers at your franchisees' fingertips, we ensure they can avoid time-consuming online searches and evade the risk of inaccurate or generalized responses. Experience the power of personalized guidance with our Franchise-Tailored FAQ portal.

MANAGE & MONITOR
Some franchisors want to manage and monitor and others just want to monitor. The portal’s system is proficient at both.

While some franchisors want to be more actively involved than others in individual franchise lending, all franchisors wouldn’t mind knowing how many franchise loans are being worked, amounts and rates, how many are pending, which lender has each loan, and exactly where each loan is in the process.

The portal shows you in real time the loan process stage every franchise loan is in. And when one of your franchisees moves from closing stage to funding stage for example, you’re the first to know from the process alert you received.

KANBAN PIPELINE STATUS REPORT

See where every franchise is in the loan process. When the lender changes the process stage the franchisor and the borrower receive an alert. If the franchisor changes the process (dragging a loan box into a different column) then the lender and borrower receive an alert. Download your pipelines into excel.

LOAN PROCESS ALERTS
Whenever the lender or loan advisor changes the process stage of a borrower, the franchisor receives an email notification and the alert is posted onto the user dashboard.

INACTIVITY STATUS ALERTS
When a specific loan does not have any activity (notes, uploads, downloads, status change) after X days (you set number of days) an alert is sent to the franchisor.

Franchisors inherently understand the power of a well-designed system, as it forms the backbone of their franchise business. Similarly, when franchisors provide their franchisees access to the lending portal app, they offer a valuable system that simplifies the loan journey. In doing so, franchisors not only make themselves look good but also fulfill the franchisees' desire for a supportive and systematized approach.

Appreciation for Simplifying Complexity:

Franchisees invest in a franchise because they see the value in buying into a proven system. They appreciate the fact that franchisors have already figured out the operational intricacies, providing a ready-made roadmap for success. In the same vein, when franchisees encounter the complexities of securing an SBA loan, they naturally seek a systematic solution. The lending portal app answers this need by simplifying the loan process, saving franchisees from the burden of navigating the complexities themselves. By providing this value-added system, franchisors reinforce their commitment to franchisee success and are appreciated for streamlining an otherwise overwhelming task.

Consistency in Brand Experience:

Maintaining a consistent brand experience is paramount for franchisors, as it ensures the replication of their successful business model across multiple locations. In extending the lending portal app as a system, franchisors further enhance this consistency. The app's design, branded for the franchise, creates a familiar and cohesive experience for franchisees. This continuity in the lending process reinforces the franchisee's confidence in the brand, highlighting the franchisor's attention to detail and commitment to providing a comprehensive system that supports the franchisee at every step.

Savings in Time and Energy:

Just as franchisees seek systems that save them time and energy in managing day-to-day operations, the lending portal app delivers similar benefits in the loan process. Franchisees appreciate not having to spend countless hours researching, contacting multiple banks and brokers, or deciphering generic loan information from the internet. The lending portal app consolidates resources, provides accurate and specific knowledge, and offers a centralized platform. This time-saving convenience aligns with the principles of a well-structured system, demonstrating the franchisor's commitment to optimizing the franchisee's success.

Strengthening Franchisee-Franchisor Alignment:

Franchisees' decision to invest in a franchise goes beyond the financial aspect; they also seek a sense of partnership and alignment with the franchisor. By offering the lending portal app, franchisors showcase their dedication to meeting franchisees' needs and providing them with the necessary tools for success. This alignment is particularly evident when franchisees apply for an SBA loan to fund their investment in the franchisor's brand concept. The lending portal app becomes an extension of the franchisor's system, fostering a stronger bond and setting the stage for a collaborative and prosperous partnership.

Conclusion:

The lending portal app embodies the system-centric values that franchisors and franchisees inherently appreciate and seek. By providing a value-added solution that simplifies the loan process, franchisors enhance their credibility, reinforce brand consistency, and demonstrate their commitment to franchisee success. Franchisees, in turn, appreciate the support and systematized approach, aligning their journey with the principles they bought into when they invested in the franchisor's brand concept. The lending portal app becomes a natural extension of the financing of the dream the franchisor is selling.