Franchising & Distribution Law Blog

A new publication from Greensfelder’s Business Services practice group regarding Economic Injury Disaster Loans (EIDL) may be relevant to many franchise systems.  The purpose of the EIDL program is to provide economic support to small businesses in order to continue operations during the COVID-19 pandemic. The procedure and terms of the EIDLs are determined on a case-by-case basis, but the article linked below provides  a high-level summary of the programs, eligibility criteria and application process.

SBA-backed loans have long been an important source of funding for many franchisees, but in the past several years, the system has been in flux. Changes will again be implemented on Jan. 1, 2018, and franchisors should ensure they are ready.