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UFood Restaurant Group announced that the U.S. Small Business Administration (SBA) has listed its UFood Grill healthy fast-casual restaurant concept on its official Franchise Registry.
The Franchise Registry is a compilation of franchise systems that have had their franchise agreement reviewed by the SBA, thereby materially expediting the loan approval process for franchise investors and ensuring a consistent eligibility decision.
"Owning a business is part of the American dream, one which I've been fortunate to be a part of," says George Naddaff, UFood CEO and veteran franchising expert.
"We look forward to partnering with entrepreneurs and veterans on the opportunity to own their own UFood franchise. The SBA approval is an important step forward for our company as we continue to build our dream of giving Americans everywhere access to fresh, healthy fast food," Naddaff says.
UFood Grill offers consumers nutritious food with a wide-ranging menu that includes lean burgers, rice bowls, salads, wraps, and smoothies. The company currently has eight locations in Boston, Cleveland, and Dallas, Texas, including airports, urban areas, and Parkland Memorial Hospital in Dallas. Among other initiatives, UFood is exploring development on military bases.
The Franchise Registry lists names of franchise systems whose franchisees enjoy the benefits of a streamlined review process for SBA financing. Loan applications for franchises on the Franchise Registry can be reviewed and processed more efficiently and quickly by the SBA and its lenders because the respective franchise agreements do not need to be reviewed in each individual franchisee situation.
Among the SBA's programs is the Patriot Express Pilot Loan Initiative for veterans and members of the military community who want to establish or expand small businesses. The SBA and its resource partners are focusing additional efforts on counseling and training to augment this loan initiative, making it more accessible and easy to use. Eligible military community members include veterans, reservists and National Guard members, and their spouses. More information is available at http://www.sba.gov/content/express-programs [9].
