Participating Franchises can offer franchisee lower interest rates and waived fees through TD Bank Small Business Administration Loans
TD Bank, America’s Most Convenient Bank®, recently announced that it has joined with the International Franchise Association and a pilot group of franchises to help United States veterans become franchise owners.
Across TD Bank’s Maine to Florida footprint, franchises such as Dunkin’ Donuts, Domino’s Pizza, Baskin-Robbins and Papa Murphy’s will be able to offer a streamlined loan application process, a packaging fee waiver, and lower interest rates from TD Bank for U.S. military veterans.
“A military background provides veterans with important skills and traits that we see in small business owners,” said Rich Bradshaw, head of Small Business Administration (SBA) Lending at TD Bank, who is also a retired Navy Reserve Intelligence Officer. “TD Bank knows that veterans are strong candidates for franchising, and we are pleased to work with the IFA and our franchise partners to help veterans achieve their business dreams.”
Participating franchises will be able to offer veterans information about financing with TD Bank when a veteran approaches them about becoming a franchisee.
“As a member of the IFA’s VetFran Program, Papa Murphy’s International offers a military royalty reduction incentive. In 2012, we proudly welcomed twelve new veterans to our franchise family,” said Dick Larsen, VP of Development and Finance for Papa Murphy’s. “Papa Murphy’s International is honored to partner with TD Bank on this important financing initiative for our veterans and their spouses.”
“This groundbreaking initiative will help accelerate the number of veteran-owned franchise businesses along the Eastern seaboard,” said IFA President and CEO Steve Caldeira. “Veterans have a proven track record in franchising, and with more than 1 million troops returning to the civilian workforce in the coming years, we continue to work hard each and every day to extend career opportunities to our nation’s veterans.”
TD Bank is the largest SBA lender in its footprint and the seventh largest in the United States, and offers competitively-priced, government-backed financing programs for small businesses within its Maine to Florida footprint. To learn more, visit www.td.com.