Pacific Premier Franchise Capital has a staff assigned to each franchisee based on the location of your corporate headquarters.
Where are you located?
Select your State
- Rhode Island
- South Carolina
- New Hampshire
- South Dakota
- New Jersey
- New Mexico
- New York
- New York City Metro
- District of Columbia
- North Carolina
- North Dakota
- West Virginia
It is helpful to have information about your company and project readily available so that we can move forward as quickly as possible on your project. To begin, you may want to gather the following:
- The past two years of complete year financials on ALL of your operation. These can be in the form of tax returns or P&L statements. These should be on each individual store as well as a roll up of the complete operation. If you have separate companies for real estate or management, we would like to see those as well.
- Interim financials for the current year as well as comparisons for the previous year, if it is past April 1. Unaudited P&Ls are ok to submit.
- An explanation of your organizational structure. Sometimes a chart is helpful, if you have several companies that roll into a parent company. We want to know who all of the owners are, and what their percentage of ownership is as well as background information on each of them.
- A completed credit application. This includes a debt schedule and site information on each of your stores.
- A description of the project you would like to finance. If it is for new store development, please include the same type of information that was submitted to the franchisor in order to get the site approved. The site information includes demographics of the area such as population, competitors and a breakdown of the cost.
Each step of the process is partially dependent on how quickly the franchisee provides information to Pacific Premier. We will let you know immediately over the phone if we don't think your project is a good fit for us. If we decide to move forward, and you have provided all of the information above, it should take us no more than a week to review your financials and issue a proposal to you. If some unforeseen reason won't allow that to happen, expect to hear that from us immediately.
If you accept the proposal, sign and return it with a deposit check, you will then need to provide additional information credit needs to fully evaluate the loan application. The list of those additional documents typically includes:
- The past two years of tax returns and balance sheets on all companies, if not previously submitted.
- Two years of tax returns for each owner with greater than a 10 percent stake in the company.
- A copy of the Franchise Agreement.
- A copy of any leases related to the sites that will be financed.
Other items may be requested as the credit underwriter works through the evaluation.
We want to get to know you and your operation as best we can, so expect to talk with the underwriter assigned to your application. Credit review, once a complete package is submitted, is typically two to four weeks.
Once your loan is approved, a commitment letter will be issued. This letter indicates the final terms of your loan, as well as a projected closing date.
We will work with you to set a closing date that works for your project, and is realistic in terms of processing all of the necessary paperwork. Closing can typically occur 2 to 4 weeks after a commitment is issued for an equipment transaction. If the loan involves real estate, it may take longer, as we must rely on independent external appraisers and others to provide information to us. We do our best to work within your desired schedule, but will let you know immediately if that is not possible.
In the interim, if you need to pay equipment deposits or interim invoices to contractors, we do offer progress payments. You may draw down up to 85 percent of your total loan prior to closing.