Franchise Update Magazine Issue II, 2013 - Page 67

Is Your franchIse sYstem credItworthY? You may think so, but do lenders? When a bank considers your mortgage application, it looks at your credit history. When a lender considers your franchisee’s loan, it looks at your Bank Credit Report. The Bank Credit Report (BCR) A Bank Credit Report (BCR) addresses lender’s questions about the creditworthiness of your franchise system. In the current conservative lending environment, if you don’t provide information about your system’s performance history, lenders assume the worst. Your BCR will provide lenders with an objective, 3rd-party evaluation of the performance of your system in comparison to your immediate peers and your industry. The report also provides you with an opportunity to explain any risk issues that may be present by allowing you to include appropriate Management Comments if you choose. In the words of Shelly Sun, CFE, CPA, and CEO of Brightstar Franchising, “with hundreds of loan requests, the ones who make it easier and show they have nothing to hide, get the loans.” an 80% ore th M es packag of loan lude a that inc ort edit rep Bank Cr To request a Bank Credit Report for your franchise system, call FRANdata at 800.485.9570 or visit www.frandata.com/BCR. l. CCessfu are su © 2011 Franchise Information Services, Inc. 4300 Wilson Boulevard Suite 480, Arlington, VA 22203