Retail and franchise solutions provider Franchise India is planning to tie-up with leading public and private sector banks to help provide easy finance to investors keen on setting-up small businesses, a top company official said.
Franchise India is trying to bring-in a formal structure to franchise loans and act as a facilitator to provide easy loans for the benefit of small investors.
"We are working out on this (franchise loans) and are in talks with a few banks currently to develop a more proper and organised format for franchise loans to investors. Currently, the challenge is that the banks do not accept only capital equipment as security," Franchise India's President, Gaurav Marya, told PTI here today.
The franchise business, which is growing at a rate of 30-35 per cent annually will be the next tool to create entrepreneurship with an aim to promote financial inclusion.
The retail consulting firm is already in talks with five leading banks--SBI, HSBC, Punjab National Bank, ICICI Bank and HDFC, Marya said, adding that HDFC and SBI are already providing franchise loans but in a small way.
"It has to be more organised as only five per cent of the entire franchise financing requirement in India is met by financial institutions. Banks don't give industry-specific funding options to brand franchisees and often treat them at par with independent start-up businesses. This perception has to be changed," Marya added.
Tags:franchise loans, franchise lending, Franchise Funding, business loans, Franchise Finance, franchise facilitator,franchise assistance, franchising loans, franchisee loan, franchiser loan.
Source: PTI,04:08 PM,Aug 27,2010.
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ReplyDeleteThat's a great idea that retail providers Franchise India is planning to tie-up with leading public and private sector banks.It include ICICI bank,SBI,HSBC,HDFC and PNB.I think Most of the big banks are doing tie up with India Franchise.
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Good One !! This decision by franchise India is the breathtaking decision that they will tie up with different banks and will provide different financial services like Business Loan, Personal Loan and many more from various lenders like HDFC, Axis Bank etc. This the great adnavtage as one can avail all financial products in one go.
ReplyDeleteIt is great for entrepreneurs, who wants to make tie up with multi level malls for progress of their business and its good idea for them that they could easily get franchisee loan and fixed interest rates.
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