UPS Capital aims at franchise financing

Biz Journals:

UPS Capital has tapped Richard Combs to lead UPS Capital Business Credit. Nicknamed “the grandfather of franchise financing,” Combs has an extensive background in franchise lending through national commercial credit corporations, banks and other financial institutions, UPS Capital Business Credit will offer SBA 7(a) loans guaranteed by the U.S. Small Business Administration to help franchisees start new or acquire existing franchises. Franchisees can use SBA 7(a) and 504 loans, which range from $350,000 to $4 million, to start up a new franchise or acquire an existing franchise, buy machinery and equipment, refinance existing debt, buy commercial real estate or pay for construction costs and franchise fees.