Paris Baguette

<a href="https://www.parisbaguette.com/franchising/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support-2722141" target="_blank" rel="nofollow">Paris Baguette</a>, the bakery café concept with nearly 4,000 units worldwide, requires an initial investment of at least $635,765 to begin the operation of the concept. However, it understands that, for many, this amount is not something the average business owner has on hand, and it has built a partnership with&nbsp;<a href="https://www.celticbank.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support-2722141" target="_blank" rel="nofollow">Celtic Bank</a> to provide trusted franchise financing options to prospective&nbsp;<a href="https://1851franchise.com/parisbaguette">Paris Baguette</a> franchisees.“Celtic Bank has been an SBA lender for about 15 years and focuses heavily on franchising,” explained&nbsp;<a href="https://www.linkedin.com/in/philwinn/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support-2722141" target="_blank" rel="nofollow">Phil Winn</a>, a franchise loan specialist and vice president at Celtic Bank. “My role is to bring brands into the bank, get them comfortable with us and, in turn, help their franchisees.”Celtic Bank and Paris Baguette partnered up around three years ago, through a relationship that Winn had with&nbsp;<a href="https://www.linkedin.com/in/markmele?utm_source=1851franchise.com&utm_medium=article&utm_campaign=paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support-2722141" target="_blank" rel="nofollow">Mark Mele</a>, Paris Baguette’s Chief Development Officer. Through this relationship, Mele and the Paris Baguette development team are able to refer prospective franchisees to both a loan specialist and larger organization as they seek investment financing.Available Financing Options through Celtic Bank“Most franchisees are going to be leasing their space, so there will be a landlord, and they will not have real estate collateral like they would if they had bought the building,” Winn explained. “So the best program for that is an&nbsp;<a href="https://www.celticbank.com/sba-7a-loans?utm_source=1851franchise.com&utm_medium=article&utm_campaign=paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support-2722141" target="_blank" rel="nofollow">SBA 7</a> loan. The qualifications for that are fairly open; it’s at the bank’s discretion whether they want to lend to a borrower within that program or not. At Celtic Bank, we look at a lot of factors to make sure the franchisee qualifies for the program and is going to be successful with the brand.”Though it is a loan, qualification for an SBA loan is a more involved process than that of securing something like an auto loan.“With business lending, especially SBA, generally, we’re looking at projections. We’re taking into account whether the applicant owns any other businesses or if they have outside employment,” Winn explained. “Those are all benefits, but a lot of the time, people want to be active in Paris Baguette and run that full-time, so we need to make sure that the business is likely to do well based on the demographics of the area and other factors specific to their location.”The Current Economic Landscape and Small Business FinancingMany prospective franchisees are feeling apprehensive about the state of the market, and a notable amount of this anxiety has bled into the lending process. However, Winn says, franchisees should feel secure as they work through the process.“There’s a lot of concern right now over the economy,” he explained. “There have been a lot of conversations about whether it makes sense to move forward, and anxiety is high. I’m explaining that, because the bank felt confident the franchisee is going to succeed, they should feel comfortable moving forward.”Small business lending is far less secure for the lender than something like an auto loan or mortgage. There is no concrete collateral, which is why the bank does such detailed due diligence. Winn explained that Celtic Bank partners with Paris Baguette largely because of its confidence in the franchisor’s model as a whole. The bank is positioned well to find solutions for prospective Paris Baguette franchisees because it is confident in its projections and the brand’s ability to source qualified franchisees and real estate during the development period.“We know the brand pretty well. We’ve worked with a lot of franchisees and know the corporate team pretty well. We’re knowledgeable of everything within the FDD and other financials,” he explained. “We really understand the brand and why it works.”As Winn continues through the partnership with Paris Baguette, he says it has been an enjoyable experience and he looks forward to helping many more franchisees open new stores or expand their footprint with the brand.“I’m with the franchisees throughout the process. From that initial call through structuring the term sheets, closing and servicing the loan, I’m there the entire time,” he said. “I’m making sure that everyone at Celtic Bank does their part to get a successful close, and I want to make sure we get the franchisee a close that works for them. It’s a good partnership.”&nbsp;The total investment to franchise with Paris Baguette ranges from $652,565 and $1,750,900 including a $50,000 franchise fee. For more information, please visit&nbsp;<a href="https://parisbaguette.com/franchising/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support-2722141" target="_blank" rel="nofollow">https://parisbaguette.com/franchising/</a>.

Paris Baguette Partners with Celtic Bank for Franchisee Financing Support

1851 Franchise

The franchisor has developed a strong relationship with Celtic Bank to provide preferred lending options to franchisees.

This brand page has been paid for by PARIS BAGUETTE. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

paris-baguette-partners-with-celtic-bank-for-franchisee-financing-support

FRANCHISE INFORMATION

Own a Paris Baguette

Paris Baguette Expanding in 2024

How Paris Baguette Innovates

How Much Does it Cost?

Why Franchisees Love Paris Baguette

Learn

Visit Website

PARIS BAGUETTE

Facebook

Instagram

Twitter

LinkedIn

SOCIAL MEDIA

How Innovations at Paris Baguette Have Set It Apart in the Bakery Segment

Paris Baguette Continues Record Growth in Q1: Opens Restaurant/Week while Executing an Additional 40 Franchise Agreements

Paris Baguette’s Model Will Elevate Non-Traditional Spaces With a Diverse Menu and Unique Experience

PARIS BAGUETTE MOST READ STORIES

LOGIN

ABOUT PARIS BAGUETTE

CONTACT PARIS BAGUETTE

facebook

instagram

twitter

linkedin

First Name

Last Name

Email

Phone

City Of Interest

State Of Interest

Country

Net Worth

Liquidity

paris-baguettes-model-will-elevate-non-traditional-spaces-with-a-diverse-menu-and-unique-experience

Paris Baguette Closes Another Groundbreaking Quarter

Paris Baguette Closes Another Groundbreaking Quarter, Opening 9 New Cafés, Awarding 53 More Agreements and Supporting Development Throughout the System

paris-baguette-closes-another-groundbreaking-quarter

What Now New York: Paris Baguette to Open in Park Slope

what-now-new-york-paris-baguette-to-open-in-park-slope

Paris Baguette Franchise - How Much Does It Cost to Open a Paris Baguette Franchise - 1851 Franchise

How Much Does It Cost to Open a Paris Baguette Franchise?

how-much-does-it-cost-to-open-a-paris-baguette-franchise

From Tech Executive and Samsung Director to Paris Baguette Franchise Area Developer

from-tech-executive-and-samsung-director-to-paris-baguette-franchise-area-developer

Paris Baguette Enhances Franchisee Success Through Upgraded Digital Platforms To Strengthen Sales

paris-baguette-enhances-franchisee-success-through-upgraded-digital-platforms-to-strengthen-sales

Paris Baguette Partners with Celtic Bank for Franchisee Financing Support

MORE STORIES LIKE THIS