Visit the J3 Collaboration Project for more information to start your business ownership journey: https://thej3collabproject.com
Richard Snow VP SBA National Franchise Relationship Manager at WSFS Bank joins our host Jack Wilson of The J3 Collaboration Project to discuss the important topic of SBA loans and funding for franchise ownership.
Join us as Richard breaks down how to be a solid applicant for an SBA loan, how to develop your SBA package, the loan process from start to finish, and how WSFS Bank can help a potential franchisee or business owner get started on the right foot with their new small business acquisition.
Get in contact with WSFS about an SBA Loan here: https://www.wsfsbank.com/borrowing/business-loans/sba-lending
Connect with Richard Snow on LinkedIn at: https://www.linkedin.com/in/rsnowbusiness/
Join the conversation and be a champion for diversity in your community by following the J3 Collaboration Project on LinkedIn: https://www.linkedin.com/company/thej3project/
00:24 Host Jack Wilson and the J3 Collaboration Project Mission
01:14 Introduction of guest Richard Snow of WSFS Bank
04:43 Basic Tips for presenting a strong application for a Business Loan
08:00 When to Start Preparing your Loan Package
11:27 What are the components that make up your Net Worth
14:41 What is the length of the SBA Loan process from start to finish
21:00 Strength of Franchise Brand/Franchisee Partnership and impact on funding
24:10 Common reasons for denial of a Business Loan
29:28 What services does WSFS offer to potential franchise owners?
31:45 Final thoughts
#sbaloan #smallbusiness #franchise #WSFS #blackownedbusiness #diversityandinclusion #j3collabproject