Excellent
Based on 111 reviews
FranFund4.7Honesty, pricing, process and quality scores appear once 5 customers have rated them.
FranFund designs flexible, all-in-one funding plans that fit perfectly, no matter how rapidly your franchise or small business grows. Our most popular funding programs are SBA loans and 401(k) business funding, which allows you to use qualified retirement savings tax-free and penalty-free. By utilizing our franchise-specific pre-qualification tool and cultivating an extensive network of lenders who are franchise and small business friendly, clients pre-approved by FranFund have a success rate of 99%.
FranFund (franfund.com) has 111 customer reviews on Folks Told, with an average rating of 4.7 out of 5.
Showing 6 reviews with 3 stars · Clear filters
Randy G.
The process of proceeding through this loan process was long. It could have been better if we didn't have to send in so many repat copies of items. Once everything had been completed, there were few documents that didn't follow to the next phase of the process. This made the process frustrating.
Julio R.
Hi. The reason for the 3 stars is because I had to do a lot of follow up with the original two people that were assigned to my account. Once my account was reassigned to Jessica Smith, everything went smoothly. I had to escalate several times because I wouldn't get a response from my representative.
John
I think you guys need to get with the technology that allows me to jump on your employees schedule for a meeting versus playing phone tag back and forth three or four days to set an appointment for the following week. There's different calendar programs that allow you to do that that make it convenient for both you and your customers.
Cristina A.
I really loved the attention and explanations given to us during the first call. However, once we had to submit paperwork we were kind of at a loss for a minute. Also, I wish there was a closing call where we could discuss options, if any, and what we should be working on moving forward to improve our situation.
Lindsay M.
We used FranFund to establish our Corporation and our SBA loan. For the Corporation, the service was really helpful. We had some small mistakes that elongated the process, but overall I would have 4 stars. For the SBA process, I am not sure I would do again. We gathered all the information and had 2 options for the SBA loan bank. However, our loan process with the selected bank made our work with FranFund non-existent. There was multiple do-over's and it was such a waste of time. We just closed on our loan a month ago and we have good credit and solid documentation. After a month of having our loan in place, we severely regret the bank and are trying to transfer our loan.
Reply from FranFundJun 25, 2024
Thank you for sharing your thoughts about the SBA loan process with FranFund. Once your loan request is with your selected lender, FranFund is still available to assist and happy to help when notified of anything needed until the loan is closed to fund. Sometimes there are things outside of our control, such as the bank's internal processes, timing, etc. but we do our best to help even in those situations. We appreciate your feedback and are grateful for the opportunity to serve you.
yb
I don't feel FranFund added value to the process. The lender guided me through everything, and FranFund only facilitated the initial introduction. They charged me a fee and my bank a commission which all comes out of my pocket.
Reply from FranFundJun 18, 2024
Thank you for taking the time to write this review, as we value your feedback. Please note that the only fee FranFund charges in relation to an SBA loan is the loan consulting fee, which does not include any bank-related costs like commissions. Thank you again for your feedback.
