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Having bad credit makes it harder to qualify for a franchise loan, but it’s not impossible. If you have bankruptcies combined with lots of judgments and tax liens against you, then the chances of getting a loan from a financial institution are very small. On the other hand, if you’ve experienced a few financial setbacks in the past that left your credit less than stellar, don’t give up hope: You can still possibly qualify for a franchise loan. Let’s examine your options.
First of all, it’s difficult to qualify for a bank loan for a new franchise business even with perfect credit. Banks and other lenders tend to evaluate prospective borrowers in terms of these questions…
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