Australian small-to-medium enterprises (SMEs) seeking franchise funding opportunities up to $2 million now have leading non-bank lender Banjo Loans as an option.
The International Trade Organisation reports that Australia has more franchising outlets per capita than any other country except New Zealand, with almost 90% of franchises being Australian developed. Furthermore, independent research and advisory firm FRANdata says there are currently around 1,221 franchise profiles in the country.
The lender feels the time is right for Banjo to promote its lending capability for franchise-related needs, according to Banjo Loans CEO, Guy Callaghan.
“The franchise sector in Australia presents a significant opportunity for growth, with many franchise businesses actively looking to expand, refinance, fit-out or acquire. Through our solutions, we’re aiming to solidify our presence with existing partners, while also opening conversations with brokers and referral partners who specialise in franchise business financing,” he said.
Leveraging the established intelligence of FRANdata, Banjo Loans has launched an accreditation program to assess which franchise groups they will be able to support, considering factors such as the number of franchises a group may have, and the length of time they have been operating in Australia.