KFC Corporation announced that the U.S. Small Business Administration (SBA) has listed the company on its official Franchise Registry. The Franchise Registry is a list of franchise systems that have had their franchise agreements reviewed by the SBA. The designation will help expedite the process for new and existing KFC franchisees to obtain loans through the SBA to launch or expand their businesses.
“In today’s economic and credit environment, any step you can take to assist franchisees with meeting their growth plans is vitally important,” says Scott Haner, director of franchising for KFC. “We want to give our franchisees every possible edge in securing financing for new restaurants, and KFC being added to the SBA Registry is a big advantage for them.”
The Franchise Registry is a national listing of approved franchise systems whose franchisees receive expedited loan processing when applying for financial assistance from the U.S. Small Business Administration by centralizing the review process. The Franchise Registry allows the SBA to make consistent eligibility decisions regarding franchise systems, to cut red tape in the system, and to speed access to SBA financial assistance.
There are more than 5,000 KFC restaurants in the U.S., and more than 80 percent of them are independent businesses operated by KFC franchisees.
Less than 30 percent of all franchise systems qualify to be listed on the Franchise Registry.