Citi Wide Merchant Funding is excited to announce a new small business financing program for franchise owners. This new franchise financing program will allow newly opened franchise to access working capital quickly. Financing for the restaurant, quick service restaurant (QSR), and franchise industries has been notoriously difficult to raise since the banking crisis.
The franchise industry currently employees over 18 million people and generates over $2 trillion in economic activity. Franchise owners currently rank financing and access to working capital as one of their top concerns. As the economy and consumer spending improve Citi Wide Merchant Funding expects an uptick in the number of franchise businesses opening.
This new franchise financing program offers franchise owners working capital up to $1 million dollars with no collateral and simple documentation. The approval to funding process takes one week. This program is open to businesses in the late start up or soft opening phase.
Citi Wide Merchant Funding’s restaurant business loan programs have previously been recognized by publications such as Entrepreneur Magazine and TheStreet.com.