NEW ORLEANS, LA--(Marketwire - November 1, 2012) - VooDoo BBQ Grill, a fast-growing network of Louisiana-themed grill restaurants, was updated not long ago to the U.S. Small Business Administration's Franchise Registry -- a title that broadens authorization candidates' access to loans to launch their businesses.
FRANdata, the authorization data definite that administers the registry, gave VooDoo the headlines Oct. 17. The company had vanished by a perfected consent routine that lasted 4 months, but CEO Tony Avila mentioned it was value the bid to coherent obstacles to financing for estimable entrepreneurs meddlesome in VooDoo BBQ.
"In the initial couple of years after you proposed in 2002, the authorization owners tended to be flattering good financed, and it was a lot simpler to secure a loan, so it wasn't that large an situation for us," Avila said. "But given 2008, loans have been so hard to secure, you satisfied you indispensable to give more people who wish to open VooDoo locations an simpler trail to the financing they need."
The SBA combined the Franchise Registry in 1998 to streamline the routine banks use to establish franchisees' eligibility for SBA loans. When the group approves a authorization network for inclusion, it agrees to pledge 75 to 85 percent of any loan to authorization candidates, shortening the danger to banks and stepping up the odds of approval.
Before commendatory franchisors for inclusion, the group contingency pointer off on their avowal papers to make sure they encounter SBA standards for size and authorization owners independence. The examination allows banks to jump over a few stairs in the consent process, saving them time and energy. The registry includes about 1,600 authorization systems, inclusive food franchising giants such as AW, Denny's, Pizza Hut and Haagen-Dazs.
VooDoo BBQ is a network of swift unintentional restaurants that offer competition-style grill with a Louisiana-Caribbean twist, complementing the unique food with New Orleans-themed store interiors and Louisiana song in every location. VooDoo has 17 locations in 4 states -- Louisiana, South Carolina, Texas and Florida -- with permit agreements for 40 more.