DESCRIPTION:

John Hayes, host of Franchise Hot Seat, interviews Shay Kleinschmidt, Vice President 

of Funding at Fran Fund, a company based in Fort Worth, Texas, that provides 

funding solutions to franchisees nationwide. Kleinschmidt discusses the changing 

franchising landscape, stressing the importance of early and tailored funding 

strategies. She also highlights the role of AI in enhancing lending processes, 

including a lender match system that matches client profiles with appropriate 

lenders. The discussion encompasses various funding products such as SBA loans, 

the rollover 401k program (ROBS), and traditional non-SBA loans. Kleinschmidt 

outlines the process of obtaining an SBA loan, indicating that approval typically 

takes between 30 and 120 days depending on the type of business. She emphasizes 

the need for potential investors to understand the franchise disclosure document 

(FDD) and supports calls with existing franchisees. The episode highlights Fran 

Fund's role in helping clients navigate the complexities of securing franchise 

funding.

- With Shay Kleinschmidt.

TIMESTAMPS:

00:59 How tech changed franchise lending?

01:59 When to start funding talks?

03:02 Most popular loan products?

05:35 Best alternative lending options?

12:33 Typical borrowing costs/fees?

15:47 How economy impacts franchising?

20:51 SBA franchise approval process?

24:41 Hottest franchise categories now?

30:35 Best advice for new franchisees?

LINKS:

WEBSITE: http://franchisehotseats.com/

LinkedIn: https://www.linkedin.com/in/drjohnhayes/

Twitter: https://twitter.com/drjohnhayes

YouTube: https://www.youtube.com/c/Howtobuyafranchise

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TikTok: https://www.tiktok.com/@johnphayesfranchise

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Facebook: https://www.facebook.com/franchisehotseatpodcast