A new report from the IFA shows a bank lending shortfall that could cost the franchise industry 94,000 jobs. Jon Luther, IFA Chairman and Chairman of the Board for Dunkin’ Brands and Arby’s International, joined CNBC’s Squawk Box and Fox Business to discuss how the IFA is helping the small business community recover from the lending crisis.
Bringing together bankers and franchisors at IFA’s Annual Small Business Lending Summit today and tomorrow will educate how successful franchising can be in this difficult market, explains Luther. “Franchises have a very high success rate and everyone coming together at the summit aides the world of franchising,” Luther says. There is a high demand for franchising because the formula for franchising is a workable formula that has been proven and tested and there is a high success rate when opening a franchise store.
Key policymakers and financial regulators, including Karen Mills, Administrator, U.S. Small Business Administration (SBA) will join IFA at its summit. It is important to bring bankers together to communicate how the demand has built for lending. Through IFA’s summit the franchise industry, lending and policy leaders will assess progress, challenges and steps needed to expand credit access and capital to create small-business jobs. “Education is now working and lending is freeing up giving franchising the ability to continue to spur job creation,” says Luther.
For more information on IFA’s Small Business Lending Summit click here.
Posted by Jenna Weisbord, IFA Manager of Communications & Marketing