Long John Silver’s on Tuesday announced that the U.S. Small Business Administration (SBA) has listed it on its Franchise Registry.
The designation will help expedite the process for new and existing Long John Silver’s franchisees to obtain loans to launch or expand their businesses.
Operated by Fran-Data in partnership with SBA, the Franchise Registry is an online national registry of franchise systems whose new and existing franchisees receive streamlined loan processing. Less than 30 percent of all franchisee systems qualify to be listed on the Registry. Applicants must submit their franchise contracts to ensure compliance with strict SBA criteria.
“It’s no secret that the current economy and credit environment has suppressed franchise systems from meeting growth plans,” said Ben Butler, Long John Silver’s president. “We want to give our franchisees every advantage to secure financing for a Long John Silver’s restaurant. We believe approval on the SBA Registry is a major step in that effort.”
Owned by Yum! Brands of Louisville, Ky., Long John Silver’s, operates more than 1,100 restaurants worldwide. Yum also operates Taco Bell, KFC, Pizza Hut and A&W.
Early this month, the nation’s largest quick-service seafood chain has debuted its first ever value menu, dubbed the Dollar Stretcher Menu, comprising a dozen items priced at USD 0.99, 1.59 and 1.99 each.
