blackfranchisefoundation

07/20/2022

Spring Valley now has a Chick-fil-A, but that's not the only thing customers in the area are excited about. Many have been dropping by to meet the new owner.

02/16/2022

https://aeoworks.org/capitalone/

Capital One’s Commitment to Building Resilient Futures Despite the significant increase of Black-owned businesses over the last several years, Black business owners have long faced a disproportionate number of challenges, many of which have only been exacerbated by the COVID-19 pandemic, including...

02/12/2022

Asia Thomas is making her dreams a reality after she becomes a Black franchise owner at Subway. “I always say one of my favorite scriptures is, ‘If you ask anything in my name, I’ll do it.’

11/08/2021

https://gwinnettmagazine.com/lavida-story/

An amazing massage… It’s a welcome opportunity to set your daily stresses aside and drift into deep relaxation. It’s when all those aches and pains that have bothered you for weeks are released. It brings a sense of true rejuvenation that leaves you feeling uplifted for the rest of your week. ...

10/14/2021

Franchise Me, please!!

07/19/2021

Congratulations Stacey Hess and Sign Gypsies! This is where we got our start!

https://www.franchising.com/news/20210715_ey_announces_stacey_hess_of_sign_gypsies_as_an_entrepreneur_of_the_year_202.html?fbclid=IwAR0KUdwNdBz7LSPjUgGnSowSw_z9GfP6iAGAbOZnKhJWOJdm7lmnOpjGRLU

Ernst & Young LLP (EY US) announced that Stacey Hess, President and CEO of Sign Gypsies, was named an Entrepreneur Of The Year® 2021 Southwest Award finalist.

07/01/2021

Another great meeting with a goal-getting client!!

06/27/2021

05/13/2021

https://www.inc.com/jared-hecht/business-line-of-credit-vs-business-credit-card-which-is-best-for-your-company.html

When you need to spend on the unexpected, these two great financing tools can keep your small business going. But when do you use which?

05/13/2021

Lenders requirement list make sure you have all these things in place. Also good to have a credit score of 700+ don't be afraid to personal guarantee if needed. Especially start-ups in most cases.

ARTICLES OF INCORPORATION
Your business must be with a good and active standing on the state records.

TAX ID (EIN) NUMBER
You must have an

EIN that matches state records.

BUSINESS ADDRESS
Business must have its own commercial address preferable with a commercial lease.

BUSINESS PHONE NUMBER
Your business must have a separate business number listed with 411 using the business legal name.

BUSINESS ACCOUNT
As far as lenders are concerned, the official start of the business is when you opened a business bank account.

LEGAL DOCUMENTS
Contracts, Franchise agreements, Commercial leases required for you to conduct business.

BUSINESS CERTIFICATE & LICENSES
Your original business license or certificate of doing business. It’s essential that all DBA’s with state, federal, or banking records are organized.

BUSINESS CREDIT REPORTS
You must have an open file with a good credit history and score with Dun & Bradstreet, Experian and Equifax business.
CREDIT HISTORY
There can be no late or derogatory marks on the business file.

TAX RETURNS
You must file all the appropriate business tax returns.
FINANCIAL STATEMENTS
Profit and Loss (P&L), Balance Sheet, Income Statement, Cash Flow and Bank Statements – This must be current within 180 days of your application.
PUBLIC RECORDS
Public records can have no liens or judgments against your business.
BUSINESS CREDIT CARDS
Have at least 3 revolving credit cards and make payments as early as possible.
VENDOR & SUPPLIER CREDIT
You should have at least 5 to 8 vendor lines of credit and pay as early as possible.

LOAN FROM BANK
Secure at least one small business loan from a bank.

PERSONAL CREDIT REPORTS
There cannot be open bankruptcy, no late or derogatory marks on the personal credit report.

BUSINESS PLAN
Required for start-ups. Create a summary of the business plan and include projected revenue.

BUSINESS INSURANCE
Your business must have the appropriate liability insurance