The International Franchise Association welcomed President Obama’s support to increase SBA loan limits from $2 million to $5 million, which, if passed, would pave the way for more franchise businesses to help create new jobs and set the country on the road to economic recovery. IFA President and CEO Matthew Shay and several IFA-member franchisees joined the president at a Washington, D.C.-area business where he announced his support. The president said he supported increasing the SBA 7 (a) loan size from $2 million to $5 million to help provide medium-sized companies more sources of credit to expand and grow their businesses.
IFA Delivers SBA Loan Concerns to Congress Too
Crucial changes to SBA loan programs could create 650,000 new American jobs, IFA President and CEO Matthew Shay told Congress October 14 during testimony before the House Small Business Committee. Shay told lawmakers that making SBA loan programs work better for entrepreneurs seeking capital to open, acquire or expand a business will allow the economy to recover faster and provide the necessary bridge to a functioning commercial lending market once the recovery is complete. In addition to increasing the loan limits, Shay urged seeking new ways to stimulate small-business lending to provide funds specifically for business start-up and expansion.
Franchising Executives Gather Ideas, Solutions in Phoenix
Zeroing in on the major issues affecting franchising, nearly four dozen franchise
executives gathered for IFA’s Executive
Leadership Conference to gain insights on
steering their firms in today’s economy.
Speakers included 60 Minutes journalist Leslie Stahl, Carlson Companies CEO Marilyn Carlson Nelson, management consultant Ram Charan, Chamber of Commerce Economist Marty Regalia, Roark Capital Group Vice President Geoff Hill,
TSS Photography President Joe Lindenmayer
and social-media strategist David Nour. Conducted annually at Phoenix ’s Royal Palms Resort & Spa, the conference features three days of intensive information-sharing, networking and strategic thinking led by experts in fields crucial to franchise operations.
Vets Bill Co-Author Seeks Franchise Community’s Help
U.S. Rep. Aaron Schock (R-Ill.), co-author of new legislation designed to aid veterans’ entry into franchising, has called on the franchising community to help increase the number of co-sponsors of the measure to hasten its passage. During an October 8 conference call with IFA members, Schock said H.R. 2672, the “Help Veterans Own Franchises Act”, could benefit from the grassroots efforts of IFA members calling their representatives and urging them to sign on as additional co-sponsors. IFA will issue an “Action Alert” soon to urge members to contact lawmakers and request their co-sponsorship of the measure.
California Governor Vetoes Credit Report Bill
California Gov. Arnold Schwarzenegger (R) has vetoed legislation that would have prohibited an employer, with the exception of certain financial institutions from obtaining a consumer credit report for employment purposes unless specified conditions apply. While clearly applying to franchised businesses in their capacities as employers, there also remained some concern that the bill could have affected the ability of franchisors to perform credit checks of potential franchise investors. IFA joined a coalition of business groups opposing the measure and signed a formal letter of opposition. It is unclear whether this issue will resurface during the next session of the legislature.
IFA Seeks to Quantify Business Visa Delays and Denials
The International Franchise Association is seeking feedback from U.S. franchisors who are experiencing difficulty bringing foreign franchisees and managers into the United States for training or other temporary purposes. With increasing frequency, franchisees and managers who are seeking entry to the United States to attend training sessions are being denied visas by State Department officials for fear they may emigrate. U.S. consular officers at America ’s overseas embassies and consulates are denying franchisees’ requests for “business/tourist” visas from non-visa waiver countries, and franchisors are having work around the problem by performing training outside the United States at considerable added expense.
Singapore Franchise Association Adopts CFE Program
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