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We are often asked how to have great closings, and it truly does take a whole team.

Recently a mortgage buddy told me there are 1000 things that can go wrong from the time a person starts to look for their home until they close.  There are so many humans using so many programs and hardware that what’s amazing isn’t the little hiccups but rather how often things go right.

In short, it is: 16 Code of Federal Regulation (CFR) Parts 436 and 437

More specifically, the Franchise Rule gives prospective purchasers of franchises the material information they need in order to weigh the risks and benefits of such an investment. The Rule, primarily enforced by the Federal Trade Commission ("FTC") at the federal level, requires franchisors to provide all potential franchisees with a disclosure document (commonly known as the "FDD") containing 23 specific items of information about the offered franchise, its officers, and other franchisees.

The U.S. Small Business Administration created the SBA Franchise Directory to try and streamline the process for entrepreneurs looking to access capital.

According to SBA Associate Administrator Willam Manger, “It’s a one stop shop to check the growing list of eligible brands for SBA financing.  Since its establishment, the Directory and new procedures have received extremely positive feedback from the stakeholders participating in the process."

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**This blog site is published on behalf of and reflects the personal views of the article authors, in their individual capacity. It does not necessarily represent the views of the law firm or any clients, and is not sponsored or endorsed by them. The purpose of this blog site is to assist in dissemination of information about general business and interesting legal topics, but no representation is made about the accuracy of the information. The information contained in this blog site is provided only as general information for education purposes, and blog topics may or may not be updated subsequent to their initial posting.

**By using this blog site you understand that this information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice. This blog site should not be used as a substitute for competent legal advice from a licensed attorney in your state. This blog site is not intended to be advertising and Joshua M. Watkins does not wish to represent anyone desiring representation based upon viewing this blog site in a state where this blog site fails to comply with all laws and ethical rules of that state.

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