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LoanBox Franchise Lending System Platform
LOAN PACKAGE
LoanBox acts as your centralized loan packaging system to simplify the complex process of gathering and organizing loan application documents. This feature removes the hassle of manually collecting paperwork, which reduces errors and streamlines the process. Franchisors can customize this system to align with their specific requirements, creating an efficient and seamless experience for franchisees and lenders.
LENDER PORTAL
Franchisors can now facilitate lending options and opportunities for their franchisees through the Lending Portal loan brokering platform. The platform connects franchisees with a network of preferred lenders, extending their financing options and increasing the likelihood of securing loans. By offering a robust network of lenders, the Lending Portal empowers franchisors to strengthen their financial support system for franchisees, fostering growth and expansion within their franchise network.
STREAMLINED PROCESS
Franchisors don't have to think about the process and can just get updates and check their pipeline every once in a while. Franchisors can effortlessly track and monitor each loan application progress. From initial application submission to loan approval or rejection, franchisors can access real-time updates and analytics, ensuring transparency and informed decision-making.
LoanBox monitors the SBA lending activity on about 2,000 franchise brands. LoanBox lenders use this intel to manage the franchise brands and franchise types they are targeting through LoanBox. When a franchise selects the franchise brand, they only receive loan proposals from lenders who are already familiar and eager to lend to that brand.
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LoanBox Solves The Biggest Problems in Franchise Lending
Tailored System
A Tailored Lending System for Franchisors: Franchisors inherently understand the power of a well-designed system, as it forms the backbone of their franchise business. Similarly, when franchisors provide their franchisees access to LoanBox, they offer a valuable platform that simplifies and systematizes the loan journey for their franchisees.
In doing so, franchisors make the financing aspect of their startup franchises more efficient while simultaneously fulfilling the franchisees' desire for a supportive and systematized approach.
Time and Energy
Just as franchisees seek systems that save them time and energy in managing day-to-day operations, LoanBox delivers similar benefits in the loan process. Franchisees appreciate not having to spend countless hours researching, contacting multiple banks and brokers, or deciphering generic loan information from the internet.
The LoanBox app consolidates resources, provides accurate and specific knowledge, and offers a centralized platform. This time-saving convenience aligns with the principles of a well-structured system, reinforcing the projection of the franchisor's commitment to optimizing the franchisee's success.
Simplifying Complexity
Appreciation for Simplifying Complexity: Franchisees invest in a franchise because they see the value in buying into a proven system. They appreciate the fact that franchisors have already figured out the operational intricacies, providing a ready-made roadmap for success. In the same vein, when franchisees encounter the complexities of securing an SBA loan, they naturally seek a systematic solution.
LoanBox answers this need by simplifying the loan process, saving franchisees from the burden of navigating the complexities themselves. By providing this value-added system, franchisors reinforce their commitment to franchisee success and are appreciated for streamlining an otherwise overwhelming task.
System-Centric Values
LoanBox embodies the system-centric values that franchisors and franchisees inherently appreciate and seek. By providing a value-added solution that simplifies the loan process and removes much of the stress factor from the equation, franchisors enhance their credibility with loan-seeking franchisees, reinforce brand consistency, and demonstrate their commitment to franchisee success.
Franchisees, in turn, appreciate the support and systematized approach, aligning their journey with the principles they bought into when they invested in the franchisor's brand concept. LoanBox becomes a natural extension of financing the dream the franchisor is selling and the franchisee is funding through their investment.
Brand Consistency
Maintaining a consistent brand experience is paramount for franchisors, as it ensures the replication of their successful business model across multiple locations. In extending the LoanBox app as a system, franchisors further enhance a consistent brand experience. The app's design, branded for the franchise, creates a familiar and cohesive experience for franchisees.
This continuity in the lending process reinforces the franchisee's confidence in the brand, highlighting the franchisor's commitment to providing a comprehensive system that supports the franchisee during the crucial and stressful step of franchise financing.
Save on Stress
Franchisees don’t want to try to figure everything out on their own regarding getting the financing needed.
Franchisees generally prefer a supportive and systematized approach when it comes to getting financed to open or purchase a franchise. Just ask them.
For many of your franchisees, securing a franchise loan can often seem like navigating through a complex maze. The process can be laborious, fraught with extensive research, numerous bank conversations, broker interactions, and the uphill battle against misleading internet information.
Tailor. Automate. Monitor.
It Really is This Easy
LoanBox offers franchisors the capability to manage, monitor, and automate franchise system lending. This flexibility caters to different management styles, allowing some franchisors to actively oversee each franchise loan while others might prefer a more hands-off approach.
With LoanBox, custom automations can be set up easily, and the LoanBox team handles the entire setup. The portal offers real-time visibility into loan statuses, providing essential metrics such as the number of active loans, loan amounts and rates, pending loans, and details of the lenders handling each loan. This transparency grants franchisors enhanced control and insight into every step of the loan process.
Kanban Pipeline Status Report
Kanban Pipeline Status Report: The Kanban Pipeline Status Report provides a clear visual of each franchise's loan process stage. Alerts are sent when stages are updated by the lender or borrower.
The downloadable pipeline report, available in Excel or CSV format, offers comprehensive data for further analysis and integration into CRM systems. This feature ensures franchisors have all necessary information to manage and track franchise loan status efficiently.
Loan Process Automation
Loan Process Automation: LoanBox enables franchisors to either micromanage every aspect of the loan process or to set it on autopilot.
Automated updates and a detailed pipeline report keep franchisors informed at all times, allowing SBA professionals to manage the system while franchisors intervene only when necessary. Inactivity and caution alerts can be configured to prompt franchisors when specific actions are required, ensuring all details are covered.
Loan Stage & Process Alerts
Loan Stage & Process Alerts: Email notifications and dashboard posts alert franchisors at various stages within the loan process. These alerts may include:
- Franchise downloads the app
- Completion and sharing of the loan package
- Receipt and acceptance of loan proposals
- Credit pulls and underwriting steps
- Scheduled calls and meetings
- Approval reviews and committee dates
- Issuance and execution of commitment letters
- Loan funding and post-loan survey completions
Real-Time Loan Alert System
Real-Time Loan Alert System: A significant feature of LoanBox automation is its real-time alert system.
Franchisors can customize their preferences to receive numerous update alerts or opt for fewer updates with periodic pipeline reports. Alerts tailored to franchisors' specific needs help in managing the process efficiently.
Loan Inactivity & Caution Alerts
Loan Inactivity & Caution Alerts: Inactivity and caution status alerts help franchisors stay informed about loan processes. Examples include:
- No activity posted in the last 7 days
- Potential dormancy with process stage on hold
- Funding deadline at risk due to missing documents
- Potential issues with appraisal, valuation, or deal structure
- Unexpected credit score results
- Analyst concerns or general contractor checklist delays
