Looking to buy a franchise? Thinking about where to get the required finance? Here are some unique and creative ways to raise the money needed for starting a franchise.

• Get it from friends and families: Think about it, this is a loan that won’t be written in your credit rating! On the flip side, you may ruin a treasured relationship. So, the best way is to take a middle road. Make a proper business plan and put it forward in the right way when you talk to your “investors”. If any one in your family is willing, take him/her as a partner. You can compensate your part of investment with hard work while he can become the “silent partner”. But whatever you do, don’t forget to make a legal document to clarify every points including the loan terms and conditions.
• Take a loan from Credit Card: If Larry Page can do it, why not you? But make sure you have a good credit rating to get a loan. This loan should be taken as a side loan (for example, for buying some equipments or redesigning a place), because if you take up a big amount and fail to pay it back, then you will be knee deep in debt with high interest rates. Furthermore, getting personal loans will become problematic in future, as your credit rating will go down.
• Take a loan on your insurance policy: If you have an old insurance policy that is a whole life policy, then there can be a built up over time in excess of the premium. That is called the cash value and you don’t have to pay any tax, if you borrow cash value from the policy. But it can lower the overall value of the policy.
• New SBA Loans: SBA loans are the best option when you are going for small business franchises. There are some new loans from this organization such as the Patriot Express Loan or the Rural Advantage program. If you are a veteran or from the rural countryside, you can take the help of these loans. Moreover, the terms are very favorable even for general SBA loans.