Long John Silver’s (LJS) received approval from the United States Small Business Administration (SBA) for listing on the SBA Franchise Registry. According to LJS franchise development experts, the action will help expedite the process for new and existing LJS franchisees to obtain loans to start or expand their businesses with the seafood restaurant brand.
The Franchise Registry, operated by Fran-Data in partnership with SBA, is an online national registry of franchise systems whose new and existing franchisees receive streamlined loan processing. Fewer than 30 percent of all franchisee systems qualify to be listed on the Registry. Applicants must submit their franchise contracts to ensure compliance with strict SBA criteria.
“It’s no secret that the current economy and credit environment has suppressed franchise systems from meeting growth plans,” says Ben Butler, LJS president. “We want to give our franchisees every advantage to secure financing for a Long John Silver’s restaurant. We believe approval on the SBA Registry is a major step in that effort.”