Make the borrower and ownership clear
Requirements depend on the lender, financing product and transaction. This guide helps you organize an initial file and identify gaps before a formal review. FundMyFranchise helps franchise buyers and owners across Canada prepare the business plan and coordinate the lender's information requests.
Start with the proposed borrower, owners and their roles in the franchise. Keep the business name, ownership details and contact information consistent across the application and supporting documents. Where a company has not yet been established, identify the proposed arrangement rather than presenting it as completed.
Prepare a concise account of relevant experience and who will manage daily operations. BDC notes that lenders may review personal investment, credit information and management background as part of a business-loan assessment. The exact information requested will be lender-specific.
Document the project and use of funds
Show what you want to finance, what it costs and how the figures were established. Mark each item as a confirmed quote, estimate or payment already made. Include dates and supplier information where available, and keep the total aligned with the requested borrowing and owner contribution.
- A project summary identifying the brand, location and transaction type.
- A detailed budget and the sources proposed to fund it.
- Relevant quotes, invoices, equipment lists or construction information.
- Franchise, premises and purchase documents appropriate to the project's stage.
- A record of amounts paid and commitments still outstanding.
Prepare financial information for the right situation
For a new location, distinguish forecasts from actual results. For an existing business or expansion, organize the available historical records and explain which business each set describes. BDC identifies financial statements, projections and a clear use of funds among common elements of a loan application.
Do not combine the seller's results, another location's performance and your future expectations without labels. If an accountant has prepared financial information, retain the original documents and make clear which additional schedules are your own working estimates.
Keep the business plan consistent with the evidence
A useful plan explains the request rather than adding a separate story to the file. The proposed ownership, location, project cost and contribution should agree with the application. If an agreement or quote changes, review the affected forecast and narrative.
We prepare franchise business plans in-house and help identify missing or inconsistent information. You remain responsible for confirming your information and understanding the assumptions. We do not create unsupported sales figures, conceal credit concerns or guarantee that a document will satisfy every lender.
Expect a checklist to develop during review
The lender may ask for additional information after the initial submission. Treat that as a specific request to resolve, not a reason to send every document you have. Keep a simple record of the question, the response supplied and anything that still needs confirmation.
Provide sensitive identity and financial records only through an agreed document-sharing process. An initial website enquiry can identify the project without including account numbers, identification documents or a complete personal financial file. We can explain the next preparation steps after that first discussion.
Your questions, answered
Is there a universal minimum credit score for a franchise loan?
No single threshold applies to every institution and product. The lender determines its requirements and assesses the applicant's circumstances. Be ready to discuss relevant credit history accurately rather than relying on a generic online score promise.
Do I need all the documents before contacting you?
No. Start with the project summary, estimated cost and current stage. We can help identify what is available, what is missing and what the lender may need next.
Does submitting every requested document guarantee approval?
No. A complete file enables the lender to assess the request. Approval, amount and terms remain subject to its credit decision and any applicable product or program rules.