EDEN PRAIRIE, MN – (November 11, 2008) Despite what you hear on the news about money being tight there are still plenty of ways to finance a franchise purchase, said Jeff Elgin, CEO of FranChoice, Inc., a national consultant company that helps individuals find their ideal fit in a franchise business. “Financing will always be a crucial part of the process of becoming a franchisee and what you can afford – or borrow – will determine which businesses you focus your research on,” said Elgin. “The more you know about the various sources for finance help, the better decision you will make when it comes time to buy your business.”

The current economic situation has impacted the franchise financing process in a number of ways. “One change we are seeing,” said Elgin, “is that it can take longer to process your financing. For that reason, we recommend to our franchisee candidates that they being the process even before they start looking at individual business to buy.” Another change is that lenders, once they approve you for a loan, want you to move on it more quickly. “Lenders are not going to leave credit commitments out there for weeks or longer. If you don’t take the money, they will lend it to someone else,” said Elgin.

Anyone can identify with the heavy strain placed on a student’s finances. Besides paying for school, many undergrads and those pursuing further education have countless responsibilities and financial obligations to fulfill. Though part-time jobs can cover small expenses, bills and student loan payments can really add up. All students should keep these tips in mind:

• Apply for financial aid early. Make sure you research when the cut off date is and put in your government application in as soon as it’s allowed.

• Pay a visit to your campus financial aid office. Many a times, there are scholarships available that you may not have known existed.

• Keep track of small purchases, such as your weekly spends at Starbucks or dinners out. If you find a significant amount of your cash flow is going to one place, try to reduce it slowly.

One of the first steps to take before you start looking for your dream home is to ask yourself what you can afford to spend on a monthly house payment. Ask real estate agents, real estate brokers, lenders and any other real estate professional you know any questions you have about real estate financing, home mortgages, home loans, commercial mortgages, refinancing and current mortgage rates and get quotes, even if you have bad credit; you can learn a lot in a short period of time. Bit of trivia- this year alone, Americans are expected to borrow $1.33 trillion in acquiring 7.4 million houses, condominiums and co-ops.

Some lenders may impose limits on how much of your down payment can come from borrowing from other sources. Make sure to get an estimate of your real estate financing closing costs from the lender you’ve chosen; by law, the lender is required to provide his statement to you within three days of receiving your loan application. Most of all you’ll need to determine what price range you can afford to buy in.