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September 19, 2017in BusinessBy dean

7 Common Misconceptions About Franchise Loans

Franchising misconceptions can cause someone to jump into a business opportunity ill-prepared or ill-informed. The biggest make or break for first-time franchisees is preparation and planning; those are key to a successful franchise. Below are seven common misconceptions about franchise loans. 1. Success Is Guaranteed The name and brand recognition of a franchise is one...

September 18, 2017in BusinessBy chris

Is Your Business Ready for the Next Devastating Natural Disaster?

In the wake of Hurricane Harvey, we are faced with Irma, Jose and potentially Katia, making landfall and wreaking havoc on the eastern United States. This leaves many entrepreneurs and business owners questioning how they would recover from a natural disaster, including myself. As the co-founder and CEO of Magilla Loans, the impact a natural disaster...

September 18, 2017in Identity TheftBy chris

Applying for a Business Loan? Make Sure Your Personal Information Is Protected.

When applying for financing from either the Small Business Administration (SBA) or a traditional lender, the most convenient option is to apply online. In the early stage of the application, you do not need to provide any private information or documentation as long as you know your financial picture. Additionally, I do not recommend providing your personal phone number…

September 18, 2017in BusinessBy dean

8 Myths About Franchise Loans

Franchises can be a high risk but also a high reward endeavor. Instead of being an employee of a company, you start your own from scratch. Then, you try to make your one, or multiple, stores as successful as possible. To set up a franchise, first the franchise needs financing. Below are some common misconceptions,...