Patrice & Associates

<a href="https://1851franchise.com/patriceandassociates">Patrice &amp; Associates (P&amp;A)</a> is a leading hospitality and corporate staffing franchise with over 175 units in the U.S. and Canada. Thanks to its strong brand recognition, flexible business model and growing footprint,&nbsp;<a href="https://patriceandassociatesfranchising.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">Patrice &amp; Associates</a> has established itself as a leading franchise opportunity in the&nbsp;<a href="https://pgcgroup.com/blog/2022-us-staffing-industry-in-review?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">$212 billion</a> staffing industry.The total investment necessary to invest in a Patrice &amp; Associates franchise is $90,000 to $92,000. And for prospective franchisees looking to finance the business, Patrice &amp; Associates has established relationships with lending partners to assist franchisees in securing the proper funding.&nbsp;An Expert, SBA-Backed Franchise Funding PartnerOne of P&amp;A’s primary financing partners is&nbsp;<a href="https://www.bankatfirst.com/personal.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">First Financial</a>, a pioneering firm in flexible and creative lending solutions. First Financial offers a comprehensive range of financing options, most notably bringing more than 25 years of Small Business Association experience.&nbsp;<a href="https://1851franchise.com/how-to-qualify-for-an-sba-loan-2721924">SBA loans</a> are a popular option among franchise owners as they can help cover startup costs, working capital needs, expansions, real estate purchases and more. They’re handled by a private lender but backed by the federal government.&nbsp;"The SBA landscape has evolved — it's no longer the cumbersome process many believe it to be," said&nbsp;<a href="https://www.linkedin.com/in/cindy-watson-first-financial?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">Cindy Watson</a>, President of First Financial. "Our collaboration with Patrice &amp; Associates has seen SBA loans processed in under 30 days, for example. We are debunking common misconceptions and fears. We're capable of closing an SBA loan for a Patrice franchise much faster than candidates expect, using our established templates and processes."According to Watson, the SBA has shifted from a less-favored option to a preferred choice in the banking sector, especially since the economic changes brought by COVID-19.&nbsp;"More than ever, it's essential for potential franchisees to seek knowledgeable SBA advisors,” said Watson. “Choosing a service like First Financial, known for its expertise in SBA loans, is critical. The process can be intricate and repetitive. This is not a situation where you want to consult a rollover company on SBA loans, for example. That’d be like going to a dentist for an appendix operation."Financing Options for P&amp;A Franchisees&nbsp;With the support of First Financial, Patrice &amp; Associates franchisees have no shortage of financing options. The most popular option is the&nbsp;<a href="https://www.ffcash.com/express-loans/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">SBA Express Loan</a>, which Watson says is ideal for Patrice &amp; Associates in particular.&nbsp;“It's a $150,000, 10-year term, non-asset based loan,” said Watson. “Franchisees prefer it because it doesn’t require collateral or retirement funds and doesn’t impact personal credit. The total liquid capital investment by the franchisee, including insurance and licensing, is around $15,000 to $20,000. The SBA's 75-85% backing makes it an outstanding choice for P&amp;A franchisees, with no prepayment penalty. It's an ideal entry point for those hesitant about utilizing retirement funds or other assets, providing a solid foundation for business growth."The second most popular option is the&nbsp;<a href="https://www.ffcash.com/dream-loans/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">SBA Dream Loan</a>, ranging from $250,000 to $500,000. This unsecured SBA loan requires a 20% down payment and is named for its ability to help fund entrepreneurs' dreams.Apart from SBA loans, First Financial offers various other financing solutions, including&nbsp;<a href="https://www.ffcash.com/working-capital/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">term loans</a>,&nbsp;<a href="https://www.ffcash.com/additional-products/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">401(k) Rollovers</a> and&nbsp;<a href="https://www.ffcash.com/commercial-real-estate/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">commercial mortgages</a>.&nbsp;First Financial also offers services of a credit advocate for potential franchisees who might not initially meet the credit requirements.&nbsp;“Depending on the complexity of their credit history, improvements can take anywhere from less than 60 days to around six months,” said Watson. “Our credit advocate specializes in advising and helping individuals to enhance their credit scores, whether it involves resolving simple issues or more complex financial challenges." Financing in Action<a href="https://www.linkedin.com/in/hezekiah-butler-6825565a?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">Hezekiah Butler</a>, a former high school teacher and football coach based in Richmond, Virginia, is one example of an entrepreneur who was able to find a new career path with Patrice &amp; Associates thanks to an SBA loan. Butler, who spent around 15 years in education, realized the need for a professional pivot, especially with the onset of the COVID-19 pandemic. His journey towards franchise ownership began when he connected with a franchise consultant, who introduced him to various options, including Patrice &amp; Associates. "The business model was turnkey with low investment costs, eliminating the need for a salaried team or a physical office,” said Butler. “All I need is a laptop and a phone. Additionally, there are 1,000s of open, workable jobs from the get-go, reducing the initial time spent on seeking new business and clientele. This setup meant I could allocate more time to developing the business and engaging in productive activities."Although he loved the idea of franchising, Butler says he wasn’t sure if he’d be able to manage it financially. However, when he learned about the SBA loan and the way Patrice &amp; Associates helps with financing, it suddenly seemed feasible. "When the SBA loan was introduced to me, it felt like a way that I could actually do this," said Butler. “The adage 'you need money to make money' holds true, but vehicles like SBA loans can open new opportunities. I already have student loans, a mortgage and a car payment, so I was hesitant to add another loan at first. But as I delved deeper into Patrice &amp; Associates, I realized that the repayment was built into the business model. Coupled with the low franchise fee, the financial aspect seemed quite manageable.”The SBA loan process, though not overnight, was made smoother with the lender’s guidance, Butler says. "There were experts in the field who were able to guide me," he said. "Patrice &amp; Associates connected me with a loan officer who specializes in SBA loans, so there was a lot of education involved."All in all, Butler says he is grateful for the SBA loan, as it was a key factor in facilitating his goal of moving on from public education and starting his own franchise.&nbsp; “Starting this business was really the right move for me and my family,” Butler said. “Now, I have the flexibility to take my kids to school, pick them up and participate in more activities. It has been a very positive shift, both personally and professionally, and I wouldn’t have been able to achieve that without the financing support from P&amp;A."Reaching Entrepreneurial Goals&nbsp;Overall, Watson says the First Financial and Patrice &amp; Associates partnership is designed to ensure the financing process is as simple as possible for incoming franchise owners.&nbsp;"Our expertise in funding procedures simplifies the journey for P&amp;A franchisees,” she said. “We guide them through every stage, ensuring a smooth and efficient experience.”Watson encourages those doubtful about affording a franchise to do their due diligence and explore the financing options available to them. "Don't let misconceptions hold you back,” she said. “With First Financial's diverse funding solutions, owning a P&amp;A franchise is within reach for many aspiring business owners who may not initially think so.”By offering accessible, flexible and efficient loan options, the collaboration between Patrice &amp; Associates and First Financial can open doors for a larger pool of prospective entrepreneurs hoping to enter the world of entrepreneurship."As we continue to empower aspiring entrepreneurs to join the Patrice &amp; Associates family, our partnership with vendors like First Financial is a cornerstone of our commitment to accessible franchise ownership," said&nbsp;<a href="https://www.linkedin.com/in/briankmillercfe?utm_source=1851franchise.com&utm_medium=article&utm_campaign=patrice-associates-franchisee-funding-solutions-2725154" target="_blank" rel="nofollow">Brian Miller</a>, CEO of Patrice &amp; Associates. "These are not just financial products, but powerful tools enabling our franchisees to realize their dreams without undue financial strain. We're dedicated to ensuring that every potential franchise owner has the opportunity to succeed, backed by robust support and expert guidance at every step of their journey."For more information on franchising with Patrice &amp; Associates, visit:&nbsp;<a href="https://1851franchise.com/patriceandassociates">https://1851franchise.com/patriceandassociates</a>

SBA Loans for Patrice & Associates Franchises in 2024

1851 Franchise

The renowned staffing franchise finds itself in a unique position, with SBA funding the entire franchise investment for qualified prospects.

This brand page has been paid for by PATRICE & ASSOCIATES. 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

How Patrice & Associates Works with First Financial to Empower New Franchisees with Innovative Funding Solutions

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As Workforce Dynamics Shift and More Older Americans Continue To Work, Patrice & Associates Supports a More Efficient Recruitment Model

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Patrice & Associates Continues Strong Growth Through Q3, Targets New Expansion in Q4

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Patrice & Associates Awards 20 Franchise Licenses So Far in 2024; Rolls Out New AI Recruitment Tools

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How AI Is Disrupting the Industry: The Future of Recruiting at Patrice & Associates

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Patrice & Associates Expands in Georgia: New Franchisee Opens Office in Marietta, Georgia

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How Patrice & Associates Works with First Financial to Empower New Franchisees with Innovative Funding Solutions

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