Research Episode

Financing your franchise with Don Nicol of RBC

If you are looking to get financing for your franchise, you might quickly find yourself getting overwhelmed or confused as you start down that path. You might be asking yourself questions like:

• Can I get financing?
• How much can I borrow?
• How do I start, and what do I do?
• How long does it take, and when should I get started?

Our guest, Don Nicol from RBC, is an expert in business and franchise financing and will probably answer a lot of your questions and map out your process. We start with the considerations for selecting your bank—and your banker. Don helps you learn what the bank needs to see, and more importantly, their rationale for the key aspects of your business plan and financial forecasting.

There are a whole host of different lending products that might make sense for you. We cover the different options like Line of Credit, Term Loans, Equipment leasing and financing, and the Canadian Small Business Financing Lending.

COVID-19 has definitely changed the lending landscape, and Don discusses how things changed and what borrowers can expect in the short to medium term.

And of course, Don has a wealth of experience working with such a wide range of clients over his 30+ years with RBC. I’d be foolish not to ask him to share his insight on some of the biggest mistakes borrowers make so you don’t fall into the same traps.