Small Business Administration (SBA) loans not being repaid?
U.S. Senator Catherine Cortez Masto has concerned that several franchises will not be repaying their government backed loans. The concern covers four franchises:
- Complete Nutrition
- Dickey’s Barbecue
Take a look at this excerpt from Senator Masto’s letter:
“Subway franchisees across the nation are struggling to survive with expensive promotional offers and corporate decisions that undermine the franchisees’ survival. A recent story noted that nearly 3% of SBA guaranteed loans for Subway franchisees have been charged off. Subway is accused by its franchisees of using minor infractions to steal the stores from owners through a rigged arbitration system.”
Wow! Read more here: